When it comes to most positive habits, the younger your children are when they learn them, the more likely they will become ingrained.
This also holds true when it comes to teaching your children about the value of money and why it is important to save.
There are various ways of teaching your children the value of saving money, depending on your circumstances and lifestyle.
Check out some of the following for ideas.
If you are wealthy enough, it is a good idea to give your children a weekly allowance.
From this allowance, you could tell your children that they have to put a weekly amount into a money box that they are only allowed to retrieve at the end of the month.
If you don't have the money to be able to give your kids pocket money on a regular basis, you could simply explain to the children whenever they want something that we have to save for these things.
Whenever the children receive some money, such as a birthday gift or the odd treat here and there, you could impress upon them how the money will all go if spent all at once on garbage.
Once again, a money box would be a good idea in this situation.
Teach your kids money saving habits, such as switching off lights and heaters when they are not in use and not throwing out uneaten food.
Make a trip to the store educational, showing the child the different prices on various goods and why it is better to buy the less expensive item even if it does not have a famous brand name.