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How to teach your child how to save

As a famous saying goes, “A penny saved is a penny earned,” small savings can gradually metamorphose into big investments. You need to develop the habit of saving money in very early age, and you will do a great service to your child if you teach her or him how to save money. The habit of saving money not only keeps your child financially sound in the long run, it also keeps him or her away from many other harmful habits such as spending too much on unnecessary things, eating junk food and buying junk toys and other possessions.

Of course you cannot force your child to save; you need to live by example first of all. Going wild with your credit card in the mall and then lecturing you child on the benefits of saving doesn’t make the right impact. It doesn’t also mean that you turn into an incorrigible miser. You need to strike the perfect balance. Lifespy has a post that tells you how to teach your child how to save.

[tags]parenting, saving money[/tags]