Teaching our kids about the importance of saving and giving starts so early! I have already started incorporating certain habits into our daughters’ life that I know will have an impact on them as they grow up. I feel like there are different approaches we can take as parents with kids of every age. Here is what I am currently doing with our daughters:

1. They know what “money” is. She knows we have to pay for things. She understands that if we need anything, we go to a store, we buy things, and we have to pay for them either by credit card, cash, or phone (yes she knows about ApplePay). Sometimes, she wants to open things before we leave a store, I try to teach her that first, we have to pay.
2. She understands that money is earned. The other day I asked her where her father was and she said “my dada is making money for me.” Pretty amazing:)
3. Our daughters already have piggy bank. Our daughters were gifted piggy banks when they were born (I guess my friends know me). And it’s been so great because the girls understand what they are and use them. Now, when our daughters find change around the house, they say “piggy bank” and ask to take them there and put them in, and then are always excited to say “I saved mommy.”
4. I think gifting is also as important as saving. From time to time, I have been taking our daughter Siena to Starbucks where I purchase gift cards for her teachers to show our appreciation for their hard work. Together, we buy the gift cards, we “sign” the card, and I make Siena hand the cards to her teachers. It makes her so happy to do that when she arrives at school. She truly enjoys the act of giving as well!
5. Learning the difference between needs and wants. A trip to the store is such a great opportunity to start this conversation. We need groceries for dinner, but a new toy is something we want. There is nothing wrong with wanting things! I just want our girls to understand that we make choices with our money, and we don’t have to buy everything we like.
6. Saving for something special. As they get older, I would love to help each of them choose something to save toward. We could put a picture of it beside their piggy bank and watch their savings grow together. I want them to experience the excitement of reaching a goal and understand that sometimes, getting something we really want takes time.
7. Giving them small choices. Eventually, I want to give our daughters opportunities to make simple spending decisions. If they have a little money to spend, they might choose between buying something now or saving it for something else. I know they won’t always make the choice I would make, and that’s part of learning, too! I give my girls a budget for their squishies or toys before we walk into a store all the time.
8. Showing them that giving isn’t always about money. Along with gifts, I want our girls to understand that we can give our time, attention, and kindness. As they outgrow books and toys, we choose gently used items together to donate to an organization that needs them. I want them to be involved in the process and understand how something they once enjoyed could bring joy to another child.

Most of all, I want money to be something we can talk about openly as a family. These conversations don’t have to be complicated or happen all at once. For now, a few coins in a piggy bank, a thoughtful gift, and little everyday choices are meaningful places to begin. These are just baby steps we are taking for now. As they grow older, we will ensure they learn how to “earn” money and save money, and donate money. Ultimately, for me, raising children who understand the importance of making and saving money, and want to give to those in need, is the goal!