How It Works
Sometimes saving benefits from a little extra encouragement. Children commonly feel their saving goals are unattainable and their efforts inadequate. You may need to help them a little.
Consider matching anything they save. It could be as generous as if you save $2,500 for a car, we’ll give you another $2,500; or, as limited as if you save $12 for that game, we’ll give you the other $12.
You may want to present the idea as interest on savings. If so, you can use this opportunity to show them how long it takes to double their money in a bank or credit union account.
What Other Games Do You Play?
Have you tried other games with your kids to encourage them to save money and build smart money habits? Let us know.