10 Easy Ways to Teach the Little Ones to Save for the Holidays
Taking a vacation helps you relax and reenergize. However, the holidays can cost the family a fortune. Fortunately, you can take care of this in the future by teaching your kids how to save for holidays. Money talks with children teach them to be responsible adults.
Unfortunately, even as the year comes to an end and the new one approaches, most parents don’t have financial conversations with their kids throughout the year.
If you have not started the conversion, it’s not late.
The Wazzio and WazzCards team strongly believes in getting children exposed to financial literacy at an early age.
Teaching kids how to save money will help you take them for summer vacation without getting or feeling broke.
These ten ways are an excellent start for saving money.
Related: How to teach your child to save in general
Related: Top 10 Finance Books For Children They Can Read Now
- Start Small
A journey starts with a single step, so money-saving techniques. That single coin your child drops in a piggy bank is the surefire way to start saving. But, it’s a journey that requires patience and discipline. As a parent, help your child transform savings into a culture. As a result, they will make it a habit to save a good percentage of money before spending it.
As you teach them how to save, ensure you help them cut expenses. Show them that having candy is okay but not daily. So, if your child wants a cat, teach them to save for a cat tree first and cat food before buying a cat. It teaches them that saving is a step-by-step process.
- Make it Fun
Handling finances should be fun and lighthearted. Some children earn allowances by performing and completing specific tasks. As they perform different chores, they become responsible and shape their personality traits.
You can also create a fun game where the winner gets more money. Ensure the game provokes their critical thinking. More so, expose your child to cartoon videos that highlight crucial money topics.
- Set a Goal
Vacation is the main goal but let kids learn that they can save for something small like a bar of chocolate. This acts as a trailblazer to know how far they are willing to go. For instance, if you’re planning for vacation the following summer, why not save for a swimming costume first?
You can then go for another item like the beach umbrella. When children attain small goals, they’ll feel encouraged to save towards the bigger budget. Ensure you don’t pressure them towards saving.
- Look for Free Things
As the savings towards the vacation remains the primary motivator, let the children know there are free activities for families. For example, local parks or public beaches are free and fun for the entire family. Saving is not only enough, but let them know some tricks to cut vacation costs.
You can do a simple web search to know places attractions that offer free entrance. For instance, some hotels do not charge a dime for children below ten years. Maybe they can enjoy free video games or free archery activities.
- Make it a Habit
With summer every year means vacations will always be beckoning. So, the saving techniques should be habitual and always look for better deals. In addition, savings habits will help children when they are adults.
Once children see the work of their hands, they will get motivated to save even more. A good savings culture creates a smooth financial culture for the entire family. It also ensures you never miss on that stunning Disney trip due to the lack of finances.
- Start with a nearby destination
The nearby hotel definitely offers vacation deals at subsidized prices. So, this can even be a good approach for a start. Then, with the little bucks save, show children that they can have incredible moments in the nearby amenities.
Nearby destinations can intrigue their brain to help them save more aggressively.
- Involve other children
Make the entire saving idea for a vacation sounds like competition. Divide them into two groups and challenge them to see who will have saved more the following summer. This type of competition is healthy because it acts as the accelerator of saving challenge.
- Carry your snacks
Carrying your snacks will save you a great deal of money. Instead of throwing cash at vending machines, pack healthy snacks at home or pass at a grocery store and stock whole grain crackers, bottled water, and fresh fruits.
9. Practice your math
Practicing math can help to hold longer discussions/debates and in general conversations that involve money more easily. Everything from planning to debating saving scenarios becomes easier. You can find some easy-to-practice worksheets here.
10. Use the WazzCards App
WazzCards apps have a ton of financial literacy quizzes for children in grades 3 to 8. You can practice and learn with your little one a ton of financial topics including savings, discounts, costs, and other financial arithmetic. The best part, you can do this remotely or in person!
Image Source: WazzCards App: Financial Literacy Quiz. Grade 3
The Bottom Line
If you want a financially liberated child, then introduce them to money savings tips while young. Follow these tips to help your kids save for the next vacation. You may also creatively think of other saving tips.