Here’s How We Taught Our Kids How to Save

The second Saturday in April is a day that I think should get more attention than it does. It's National "Teach Children to Save Day." My thought has always been the sooner we can teach our kids how to save for the future, the better off we'll all be.

Granted, there's no one perfect way to get this point across to kids, but here's what we did when our kids were young. We taught the kids that for every dollar they earned or were given, it had to be split up among three different pots.

The first 25 cents had to be set aside for savings, whether that be a piggy bank in their bedroom or a savings account at the bank. And when we did visit the bank, they had to tell the teller where they wanted the 25 cents to be put.

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The second 25 cents had to be earmarked for charity, whether that be Sunday School offering, the Zoo, the Humane Society; it could go where ever they thought they wanted to make a difference.

And then the remaining 50 cents could be spent on whatever they wanted - toys, candy, souvenirs when we were on vacation - it was their money to do with however they wanted (yes, we also let them have a little fun with their money).

That's the plan we used when our kids were growing up. Maybe it would also work for you and your family - maybe not. The key is to do something! Don't wait until it's too late. You, and your kids, will be amazed how fast those coins add up.