Saving is a very important part of financial literacy. Learning how and why to set aside a portion of income will help kids to be more patient, have greater understanding of what it takes to buy the items that they want, have money available for investment or business ventures and have greater control over their finances.
Kids should also learn how to save money on items by negotiating, bargain hunting and waiting for price reductions. If kids save money on the products they buy, they will have money left over for future purchases, investments, businesses or savings.
|Allowance or No Allowance? That is the question.||May 25, 2012|