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Top 5 FUN Ways to Teach Kids How to Save!

Money jar and growth

1. Start Saving Now

A piggy bank gives kids a visual way to see their money grow, which builds excitement and reinforces the habit of saving. Watching coins pile up is motivating! When should you start a savings account for your child? It’s Time! It’s never too early to open an account to start earning compound interest. A benefit of opening an account after your child is a year old is that the money can grow and earn compound interest.

2. Providing Opportunity to Save

Help your child develop smart saving habits by giving them real-world opportunities to manage money. Whether it’s earning a weekly allowance, completing tasks on a chore chart, or running a lemonade stand on a sunny afternoon, these activities teach kids the value of hard work and the importance of saving. Each dollar they earn becomes a chance to make thoughtful choices of when to spend, save, or share.

3. Celebrating Milestones

Offer a “parent match” to reward consistent saving-just like a mini 401(k)! If they save $10, you match it with another $10. It’s a great way to encourage long-term thinking. When your child reaches a savings goal, celebrate it!

4. Encouraging Them to Participate in Decision

Sharing your own age-appropriate financial wins and mistakes helps kids connect with money on a personal level. Being honest about your experiences like saving for something special or learning from budgeting missteps builds trust and shows that managing money is a lifelong journey.

As children grow, involve them more directly in financial decisions. For older kids, this might mean reviewing bank statements together, discussing how interest works, or exploring mobile banking tools. These steps help them feel more responsible and capable.

You can also turn everyday moments into powerful lessons:
  • At the grocery store, compare name-brand and store-brand prices. Give your child a weekly ad and challenge them to plan a meal for under $25. Then shop for the ingredients and cook together—teaching budgeting, planning, and the value of money all in one activity.
  • During back-to-school shopping, ask them to sort their list into “wants” and “needs.” This helps them prioritize and understand the difference between essentials and extras.
  • When making family purchases, talk through your decision-making process. Whether it’s choosing a new appliance or planning a vacation, involving your child shows them how to weigh options, consider costs, and make informed choices.

5. Financial Education Games

Kids learn best when they have fun. Games offer a playful, low-pressure way to introduce important money concepts without needing real cash.
Try these fun and educational options:

  • Board Games: Classics like Monopoly Junior, The Game of Life, and Payday teach kids about earning, spending, and budgeting in a fun, interactive way.
  • Online Games:
    • Financial Football by Visa and the NFL is a fast-paced, interactive game where players answer money-related questions to advance on the field. It’s available for free online and through mobile apps.
    • Peter Pig’s Money Counter is great for younger kids learning to count coins and understand basic saving concepts. Early financial education builds economic confidence.

Want more tips on teaching your kids about money? Check out these articles on How to Teach Your Kids the Value of Saving and 5 Ways Parents Can Teach Their Kids About Financial Literacy. Check out more articles on Enrich, Royal’s free financial education platform.

Options for Young Adults:

  • Kickstart your financial journey with Smart Start Checking. This is perfect for ages 13–25, featuring two free NSF refunds per year, Way-to-Go Rewards eligibility, a Visa® debit card, mobile check deposit, and easy online management. Learn more about Royal’s Smart Checking here.
  • Save & Spend Duo combines the power of Duo Checking and Duo Savings to help you manage your money more effectively. With every debit card purchase, your Duo Checking account automatically rounds up the amount to the nearest dollar and transfers the spare change into your Duo Savings account. There are no minimum balance requirements to open or maintain either account, or you don’t need a direct deposit to qualify. Learn more about Royal’s Save & Spend Duo here.

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