Monday, August 22, 2011

Save money for your kids

Teaching kids to save money can be a feat, once you throw in the though of trying to save for your retirement while saving for their future needs in college, you may begin to wonder where you will find the money for all of it. Well, you can now take a deep breath and relax, because there’s a lot of easier than you think.

Whenever you children decide to cash in the money they have saved on a toy, have them give you the money instead, pays for the item by using your cash or credit card. Tell your child if they ask that once the money is handed to you for the purchase of the item they will not get the money back.

Take an empty container and begin placing all the money from your child’s purchase into the container, do not tell your child about the container. Once you have collected enough money from various transactions from your children, take the money to the bank and open them a saving account.

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