February 16, 2021

4 Money-Saving Tips to Help Your Kids Learn Smart Money Habits

Saving money is a habit that takes time and effort to build. In fact, some adults still struggle with their money-saving habits. It only makes sense to start educating children about money matters and helping them develop good habits. If you want to start your child early with their financial knowledge, consider these money-saving habits.

Evan Leaphart
Startup Founder

Start with the Basics of Saving

Experts say that you can begin teaching money-related lessons to children as young as five years old. Those piggy banks you see on TV shows are there for a reason—to teach young kids to save.

Pre-schoolers may be too young to add or subtract at this age, but they already understand the value and the idea of trading items, which is basically one of the building blocks of understanding money. Over time, you can teach them more complex financial concepts as they acquire basic math skills.

Once your child is old enough for an allowance, it’s time to take things to the next level. This is the perfect time to encourage them to put a percentage of their allowance into savings. One great way to motivate them is to check the balances often. They’ll enjoy watching their money grow the more they save. You can even introduce the concept of interests and add to their money to simulate how interest rates work.

Look for Teaching Opportunities

Learning about money shouldn’t feel like a chore or even going to school. Look for learning opportunities and make your child’s financial education more fun. For example, you can take advantage of teachable moments in everyday life as a learning tool. Whenever you go to the bank, compare it to easy-to-understand concepts like a garden where money grows over time. Remember piggy banks? You can teach your child to fatten them up with spare change. Whatever the activity is, as long as it’s fun and teachable, your child will get something from it.

Lead by Example

Children are like sponges, capable of absorbing immense amounts of information as they grow. They are also quite observant, making them emulate whatever behavior they see from their parents. When it comes to money matters, be conscious of what you say and do around them. You may not realize it, but your money attitude will eventually get picked up by them. You can also utilize positive reinforcement by praising them for their money-saving accomplishments. Tell them they did a great job depositing money in their piggy bank or doing simple chores for a small amount. Ultimately, these little tasks and observations will help them develop smart money habits.

Use Technology to Your Advantage

If your child has reached the age of having their own mobile phones, you can use certain apps to teach them the importance of financial literacy and saving money. Apps like Kiddie Kredit allow entire families to assign chores for kids to perform in exchange for in-app credits. Apps like this empower families with life skills for money management.


When it comes to teaching kids about saving money and financial matters, it’s good to start them young. Saving money is an important life skill that requires time to develop fully. Teaching children about smart money habits doesn’t have to be serious and formal. Make it fun and engaging, so they can actually enjoy the process of saving.

Kiddie Kredit is a mobile app designed to educate children and empower families with money management skills. The app is designed to educate children on the credit system by completing a series of chores, each with its own corresponding value when completed. Download Kiddie Kredit today and start your child’s financial education early.