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Article By: Kelly Kirk-Xu & Emily Stevens
Many parents have encountered that dreaded question “But, why?” at one point or another. Sometimes, these questions can cause you to draw a blank. Trust me; we’ve all been there- done that.
As a matter of fact, your future money master may have asked that “why?” question enough even to have you begin questioning the benefits of saving. You know that building good saving habits is an excellent investment in your future, but have you ever taken the time to consider why that is?
If you have found yourself contemplating just how beneficial saving up your hard-earned cash is, Walt the Vault is here to help you. There are so many great reasons to save your money, including:
Another idea you can consider is asking your kid to answer their own questions. Set up a piece of paper with a line down the middle. On one side, you can write off the “good” things about saving. On the other side, you can list off the “bad” things about saving. This list can be added to at any time in the future. It’s nice for kids to think about the pros and cons of saving, and some ideas may pop into their heads while they’re out and about later in teh week or year.
Getting kids to think about money and setting money goals is a great practice for financial literacy. To become future money masters, they must start practicing good habits and debating their spending options from a young age.