Why should I teach my child to save money at a young age?

A child in a shopping cart especially designed for children with a physical disability, with his mother and sister by his side

Between the ages of 6 and 12, you can help children absorb rules of thumb and day-to-day habits that shape how they earn, save, and shop. Habits like planning ahead, saving up, and sticking to goals and values help children (and adults) achieve financial well-being in adulthood. 

In this age range, your child can develop these skills and more!

  • Positive attitude about saving, being frugal, and self-control
  • Ability to plan ahead or save up for what she wants
  • Ability to make money choices that align with her own goals and values 
  • Self-confidence in starting an unfamiliar money task

Content adapted from https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/school-age-children-preteens/money-milestones/

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