A very good morning to the Headmaster, teachers and my fellow students. I am here to talk about teaching children to save money.Saving money is a good habit and children should be encouraged to save from a very young age.
Children can be taught to put a small part of their pocket money into their saving box. They can choose an item that they wish to buy, for example, a small toy or a storybook. Then they can work towards saving enough money to buy this item.
When children save money to buy something special, they will value that item more. They will also learn the value of money if they are paid for doing work such as gardening, washing the car or cleaning the drains around the house. This will teach them responsibilities as well as help them earn some money.
When children start having money of their own, they should be taught to write down their accounts. They should not down what they have earned and how much they have spent. When they list down items that they have bought or wish to buy, they will think carefully before spending their money.
Children love to buy things such as toys, books, stationery, and games. But when it comes to buying these things with their own money, whether saved or earned, they will be more careful about spending it. This will ultimately teach children to be wise shoppers.
Thank you.
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