Lessons in Saving

Schools are out for summer but that doesn’t mean learning has to end! Teaching kids to save at an early age will prepare them to reach their full potential later in life.

Thinking about money seems like a grown-up idea, but according to the Pew Research Center, 36% of Americans say that they have, at some point in their lives, felt their financial situation was out of control, and 57% admit to having less than $1,000 in a savings account. The importance of financial literacy is undeniable, so help your kids develop a savers mindset at a young age.


Earning their own money will help your child develop a sense of responsibility. Whether it be through an agreement to reward completed chores at home, helping them host a lemonade stand or start a babysitting business, or even encouraging them to get a job, you will help them learn valuable lessons about earning money and saving for the future.


The best learning happens through experiences. Dinner table discussions are a great way to involve the entire family in money-management decisions.

Start simple by letting the kids help develop a budget, create a meal plan, and gather ingredients. A trip to the grocery store is a fun way to teach kids how to get the most out of their dollar by comparing brands and keeping an eye out for coupons. Plus, at the end of the experience, they will feel pride and a sense of ownership by helping mom or dad with a family meal!

Planning a vacation as a family is a great way to help kids identify and understand expenses. Consider assigning kids tasks that support the trip, like identifying activities that the whole family would enjoy and pricing tickets.

Consider involving older kids in family budgeting and planning discussions. Whether it is time to talk about a new car or college, having an understanding of major expenses and the potential financial burden they can place on young adults will prepare them for the next step in life.

Remember that all children learn by example, so make smart choices they can see!


In our digital age, what better to track your savings goals than an online piggy bank! With SmartyPig, you can help your children set up various accounts to support their savings goals. Then, schedule automatic recurring deposits to divide earnings between accounts and support multiple goals at a time. Consider including monetary gifts from birthdays, holidays, religious rites of passage, and even graduation gifts. SmartyPig offers interest rates that reward saving and help you save more!

Giving Back

Teach kids the importance of acknowledging blessings and giving back to those less fortunate. Work with your child to identify a charity that sparks their interest. Set up a special SmartyPig account for that charity and schedule recurring deposits.

It is never too early to instill smart money management skills in your children. Teaching them to make good choices cultivates self-sufficiency and builds self-confidence. Start the conversation today!

Find Out for Yourself

Don’t just take our word for it. Give it a try. Open a SmartyPig account today and discover why we are one of the top destinations for savings.

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