Wednesday, September 17, 2008

Learning to Save

My husband and I are trying to save money. When I was working we actually had money to spend on crazy things. These days with only one income we are having to spend way less money than we are used to. It can be a hard concept to learn for people who aren't used to it. But we are getting better.

My 11 year old has been listening to us talking about saving. I have been watching him roll up his pennies, dimes, nickels, and quarters that he has saved up. He asked me for something to keep them in, so I gave him an old coffee can. Last week we went to the credit union and opened him an account.


They have a kid's savings club there. He received some goodies for opening an account. They gave him a backpack, T-shirt, pencils, crayons, a coloring book, and a bean bag dog. His baby brother got a doggy too, just for being good.


He got part of his money changed into dollar bills so he could spend a little. Which is fine with me. I just want him to be better at managing money than me.

10 comments:

Candace said...

It is great that he is learning to save. If only I had learned such a concept at his age *sigh!

Rachelle(aka mamabear) said...

Nancy-

So nice !! Your right about them learning now!! Hopefully my children will be better savers then we where when starting out !!
Blessings-
Rachelle

Colleen said...

That's fantastic! Hey, I'm 33 years old, and I still save my change and roll it. I bought a new camera with my saved up change recently.

Heather said...

Good for him! Good for all of you!
I'm here, cheering you on!

I just heard on the radio the other day that if everyone saved their change for a whole year, it could add up to $1000 or more. That's a pretty easy, painless way to save $1000!

Amanda said...

great to have him learning this now. i hear you about how tough it can be to spend wisely and learn to save...

hey pop by my blog...i'm having a giveaway!

2 Much Farm Primitives said...

Wish there were more parents like ya'll these days :) Teaching the values of managing money instead of the value of just "Gettin'". We still save our change and use it at Christmas time to buy all the gifts. It's amazing how much you can squirrel away with just "change".

Love ya girl,
Vic

Nancy said...

What a neat idea! I wonder if the banks around me have a kids club type thing. And look at that loot! Free stuff rocks :D

Lea of Farmhouse Blessings said...

Very cool! Now is the time to begin learning about these very important concepts. I love how you're encouraging him and making this an exciting time.

Smiles,
Lea

Donna(mom24boyz) said...

That is neat that your bank gave such cute incentives to kids opening an account. We too are stressing money managment to our kids in hope of teaching them to vear from mistakes we have made. I truly feel America does not spend enough in educating our children on money. It should be it's own subject---English, Math, Social Studies, Science, and Money Management!

Homemom3 said...

I've been trying to teach my kids this too. Want them to be better at it than we are.