As a parent, not only are you taking care of your kid as they grow, but you're also helping them prepare for the real world. Whether it's about time management or how to lose a game gracefully, these lessons will make them more well-rounded as they grow older. A big life lesson that often gets overlooked is your child's relationship with money. Teaching the concept of saving doesn't have to be a boring task. Try these fun ways to teach your toddler how to save.
1. Let Them Pick Out a Favorite Piggy Bank
The first step to giving your toddler a bit of control is to let them make the decision on their piggy bank. While pig-shaped banks are classic, they come in a wide variety of animals, ships, and castles. Show your toddler some banks and let them pick their favorite.
2. Use Saving as a Fun Reward for Games and Chores
Not only does a piggy bank teach saving, but it also shows the value of earning money. Let your toddler get coins in return for doing chores or winning games. Even just a nickel for a great win at Candy Land can be all the difference. After they earn, make a ceremony of putting the coin in the bank.
3. Play Store
Of course, with saving money, your toddler should also learn about spending. As you play store with your child, show them that the money in their bank relates directly with the money spent on a cute plastic cupcake or fake banana. This way, your toddler will have a better idea of the worth of items the next time you go to the grocery store.
4. Track Savings Goals
Perhaps your kid has a toy their coveting. Make a colorful chart to hang from their wall. Every time they add money to their bank, they can put a fun sticker on the chart to show that they're earning their way to their favorite toy.
5. Let Your Toddler Have Control
Give your kid control by creating a spending game. Choose two or three items for them to choose from, along with how many coins it would take to buy each. Stickers, lollipops, or little trinkets all work great. By being able to choose something to "buy," you're teaching your toddler that they have control.