City Lifestyle

Want to start a publication?

Learn More

Featured Article

Dollars and Sense

Teach Kids the Importance of Saving Money

Teaching children the value of saving money should start early. “Most kids’ early interactions with money will likely involve spending, so it’s important to teach
them from a young age that money isn’t only for making purchases – they should also be saving regularly,” says Nicole Gibbs, senior vice president of CapStar
Bank.  CapStar can help. “CapStar operates with an owner mindset with highly effective teammates who are obsessed with ‘wowing’ customers by setting the
standard in guidance, responsiveness, flexibility, and service,” she says.

+ Play a board game, like Monopoly, or play “grocery store” with bills and coins as a fun hands-on way to learn to make change.
+ Introduce the concept of “wants” vs. “needs” by creating a worksheet that notes the difference between things we need to survive and things we simply want.
+ Teach the value of delayed gratification with a parent-supervised savings account. Then, set savings goals, create a budget, examine results, and reward
+ Ask older kids to help balance your checkbook to show how the family budget works as a step toward real-world money management.