Do you teach your kids to save money? / myLot

May 17, 2020 10:55pm CST

I don't remember anymore if my parents taught me how to save money. But all i know, when I was in college, they did not spend a dime on my graduation because I saved for it. I saved my allowance. When I started working, I got to know how hard it is to earn money. It was then I started saving. I am frugal, not spending on frivolous things, but when I spend, I spend a lot. But it seldom happens. My dad is a one-day millionaire. My mom is very good in budgeting though am not sure if she is in saving. I think I got this quality from my aunt on my paternal side. Aunt Vivian may be frugal but she is generous with her siblings and parents. And she has no debts. What about you, do you teach your kids how to save money?

9 people like this

9 responses

Aanshi Raghava

@Aansh13 (11251)

• New Delhi, India

18 May 20

This is something that I have been taught from my early childhood.... My father is extremely particular in saving, and he has passed on the same to us... May be, in future I would teach the same..... but honestly I would try to teach minimalism....

2 people like this

hereandthere

@hereandthere (45651)

• Philippines

18 May 20

saving and minimalism would be a good combination, as well as learning life skills

1 person likes this

Simone

@Janet357 (75656)

•

18 May 20

Both are good to teach to kids nowadays.

Simone

@Janet357 (75656)

•

18 May 20

@hereandthere

1 person likes this

Brigitte Gonzales

@bbghitte (3294)

• Philippines

18 May 20

As early as 4 years old, I try to teach my daughter to not spend too much on toys so we can save for her future. So every time a relative gives her money as a gift, she directly put it in her wallet and she even organized it by color and telling her aunts that she will use it for her study.:)

1 person likes this

Simone

@Janet357 (75656)

•

18 May 20

wow, that's very nice time will.come she will.be wise in managing her finances.

1 person likes this

Brigitte Gonzales

@bbghitte (3294)

• Philippines

18 May 20

@Janet357 I hope she will:)

May2k8

@May2k8 (18078)

• Indonesia

18 May 20

My mother is very good at managing finances and she has taught me to set aside the rest of my expenses for savings.

1 person likes this

Simone

@Janet357 (75656)

•

18 May 20

your mom is very wise..

1 person likes this

hereandthere

@hereandthere (45651)

• Philippines

18 May 20

that was a wonderful gift to your parents. our mother is also the one who handles money well.

1 person likes this

Simone

@Janet357 (75656)

•

18 May 20

for you she passed on to you such quality.

1 person likes this

Mrki Krki

@mrki444 (15150)

• Croatia (Hrvatska)

18 May 20

My parents teached me.

1 person likes this

Lavanya

@Lavanya15 (12888)

• Chennai, India

18 May 20

My kids are very small but some information I give about saving money.. But now they are not in understand level.. It take time.. But teaching about money savings is very important to every parents...

1 person likes this

Simone

@Janet357 (75656)

•

18 May 20

True. how many kids do you have?