3 Methods to teach your kids about saving money

When I was 15 I was babysitting for a family with two girls over the summer and bringing home a paycheck so to speak of close to $300 every two weeks. I was there from 6 am to midnight Monday thru Friday, they lived across the street from me at the time.

The guy who lived two houses away was a police officer who would be just coming home from work. He say good morning to me and tell me to have a good day and then he would sit outside and watch me walk across the street, around midnight he would also be there watching me cross back home and tell me good night so all was OK.

Out of my paychecks I received about $50 of it and the rest went to my folks to help with bills. One thing I regret about my childhood is that I was never taught about saving money and was never encouraged to save it by opening a savings account. It was automatically assumed that I would hand it over, so pretty much I have been paying my own way through this world since I was 15 years old.

Here's a few tips to help your little one save money for their future.

1.Take the contents of their piggy bank to the bank and open up a savings account in their name. Then once a month or whenever take the bank to the bank and add their piggy money to their savings.
What I do as an adult: I have a large plastic jar that I do this with only I take it at the end of the year. Yeah, it's a pain rolling change, but it's well worth it.

2. Encourage them to use their allowance wisely and if desired to add a few dollars to their piggy bank and their savings.
What I do as an adult: I have been earning some extra funds that go straight into my savings jar. It works for me and my savings is building up.

3. If they are old enough encourage them to find summer jobs, dog walking, mowing lawns, babysitting. They are out there.
What I do as an adult: I'm working part time in retail and the rest of the time is spent doing surveys and writing online. The $$ is building up slowly.