How to let your kid start saving

[and_reau]

I’m so proud of my daughter! She had the initiative to ask me to go with her to BPI to open a Jumpstart account. (I think she learned this from her cousins) She’s been very active in tutoring younger schoolmates that she actually earns from it a little bit. Ang galing!

[elatagaw]

it's good to that you have started saving for you kids in bank. but if you want them to have the best with theirs lives. start investing now. you can accumulate more wealth for them as early as possibile. now is the right time. invest in long term, let say, in mutual funds. this will give higher returns than banks.

[elatagaw]

teach your kids to be a saver instead of spender. explain to them the difference between "WANTS" and "NEEDS".

[Snowfly]

Just sharing my experience-

When my children were still small like 3yrs.old +, I bought a plastic piggy/bear bank for each one of them. I told them that whenever they see coins nga naka kalat lang dyan, inside or outside the house, they must pick it up and put it in their piggy/bear bank, because big things start from small.

Whenever they receive a cash gift from ninong/ninang or services rendered bec. they helped cleaning their rooms for .50cents, shining their school shoes for .25 cents, watering the plants for .50 cents, run errands, massaging my or their dads legs when tired for .50 cents each legs , arms for .25 cents each hehehe or made extra from their allowances etc.etc. they will put it too.

Ohhh you can see from the glow of their eyes how happy they were looking at their piggy/bear banks and mag contest pa gani sila kon kinsay daghan ug sulod, pag ma puno na we will all go to the bank and deposit it at their junior savings account w/c was still P100 initial deposit before. I taught them how to view their savings at the passbook para ma appreciate nila how it grows.They continued this style till they reached college when I already made a transfer of funds at their individual accounts for their allowances.

Now my children are all working, I don't know how much they have already saved , but am sure they can rely on it during rainy days kay sila man hinuon ang utanganan sa mga office mates. Sometimes they compare each others net worth and we all laughed remembering the good old days hahaha.... Yes, they ended up kuripot, because they learned to value money from hard work.....good or bad,,, that was our style before hehehe

[elatagaw]

Just sharing my experience-

When my children were still small like 3yrs.old +, I bought a plastic piggy/bear bank for each one of them. I told them that whenever they see coins nga naka kalat lang dyan, inside or outside the house, they must pick it up and put it in their piggy/bear bank, because big things start from small.

Whenever they receive a cash gift from ninong/ninang or services rendered bec. they helped cleaning their rooms for .50cents, shining their school shoes for .25 cents, watering the plants for .50 cents, run errands, massaging my or their dads legs when tired for .50 cents each legs , arms for .25 cents each hehehe or made extra from their allowances etc.etc. they will put it too.

Ohhh you can see from the glow of their eyes how happy they were looking at their piggy/bear banks and mag contest pa gani sila kon kinsay daghan ug sulod, pag ma puno na we will all go to the bank and deposit it at their junior savings account w/c was still P100 initial deposit before. I taught them how to view their savings at the passbook para ma appreciate nila how it grows.They continued this style till they reached college when I already made a transfer of funds at their individual accounts for their allowances.

Now my children are all working, I don't know how much they have already saved , but am sure they can rely on it during rainy days kay sila man hinuon ang utanganan sa mga office mates. Sometimes they compare each others net worth and we all laughed remembering the good old days hahaha.... Yes, they ended up kuripot, because they learned to value money from hard work.....good or bad,,, that was our style before hehehe

are they into investment?

[Snowfly]

are they into investment?

Of some sort....small scale.

[makie]

Piggy bank is a good start. Later on, we will open an account for our kid and let him experience depositing his savings to the bank.

We just opened two mutual fund accounts. We're planning to have two children (hopefully the second one is going to be a girl) and we'll use mutual funds for their education rather than going for preneed plans.

Of course, the most important part is to talk to them later on about saving, investing, and limiting expenses as soon as they can already comprehend it.

[marqi_20]

just start with yourself on how to save and maybe the kid will follow you or just teach the kid how to save even though in a little way diba

[elephant]

my is 2.8yrs old nag ako na gipalitan og piggy bank start na cya hagbong2x... so everytime makakita cya og coins sa house kay iya dayon isulod sa piggybank

[james_mustaine]

bring your child to toy kingdom then tell the proper way about saving