Skip to main content

Encouraging Children to Save

I am a firm believer in saving is a learned skill and that as parents it is our duty to teach our children money management and how to save.

Coinstar has launched the Dust off your Pennies campaign, encouraging consumers to stop banishing their loose change to the backs of sofas and bottoms of drawers. This comes in light of a new survey that revealed just under 70% of households have loose change lying around their home that never make it to a savings jar, equating to £60 a year per household on average and a shocking accumulative £1.5 billion in the UK! 

This could prove just the incentive to get your children saving.  Why not set them the task to search your house looking for loose change!  

My top tips for encouraging children to save
  1. Set a good example - talk about saving and how you save up and plan for important purchases.
  2. Make it visual.  This is why saving pennies in a jam jar or glass bottle is so effective.  Children can see how much they are saving and it makes them want to save more.
  3. Incentive it - why not pay interest on their savings or offer bonus when they reach a certain stage.
  4. Set a goal - give them something achievable to focus on.  This will obviously vary from child to child.
  5. Take it out of their hands.  My boys only get half of their pocket money in their hands, the rest goes straight into the bank. 

I would love to know your thoughts on getting children to save and how you do it.  I believe that the more we talk about money with children the better equipped they will be to manage their money when they grow up.

My boys have both used the coinstar booths and really enjoyed watching how much their saving added up to, so I am more than happy to blog about them.

If you’ve got coins you want to change into spending money,  you can find your nearest Coinstar kiosk here,


Popular posts from this blog

Win a XXL'MAN SIZE' Faux Leather Bean Bag for Fathers Day

I have a fab competition for you to win a  Man Sized Bean Bag just in time for Fathers Day from Bean Bag Bazaar , which is worth £69.99. We are big fans of bean bags as they make perfect additional seating and can be popped in the garage when not in use and we are looking forward to reviewing one in Maxi's new bedroom . a Rafflecopter giveaway

Win A Cineworld Family Ticket

It is half term for us next week and we will be off to our local Cineworld to See Turbo thanks to a complimentary family ticket.  We were blown away at how much effort Cineworld had put into making cinema going better value for families the last time we went.   In addition to Turbo and Cloudy with a chance of meatballs 2 ,  Cineworld are also  running their popular Movies For Juniors screenings throughout half term. They are showing ‘The Smurfs 2’ every morning and tickets for kids and their folks will be just £1.50 (or £1 if people book online with mycineworld). To win a family ticket (4 x tickets) to any film at your local Cineworld just complete the rafflecopter below – Good Luck x a Rafflecopter giveaway

Bissell Vac and Steam Machine Review and Giveaway

I have hard floors downstairs which I love.  They are much more practical than carpet with 2 mucky boys and a dog. Over the past 8 years I have tried all sorts of ways to keep them clean and I think I have finally found the product that does that for me. It is the  Bissell Vac and Steam Machine .  This amazing suel action machine vacuums and steam cleans either independently or at the same time.  It means that I have done away with my vacuum and steam cleaner downstairs (which I gave to my brother in law). What I like: You can either vacuum or steam clean or do both It is lightweight and easy to manoeuvre The handle is adjustable great for a home with people of different heights and for getting the kids involved. You need no chemicals The pads are washable and reusable It comes with a two year guarantee It warms up fast (within 30 seconds) so no long wait to start cleaning It costs under £100 It is space saving.  No need for a separate vacuum, steam cleaner or mop.