CB&S Bank Logo

How to Teach Your Child Good Saving and Spending Habits

Little girl putting money inside piggy bankTeaching your child good saving and spending habits is beneficial for them to be financially fit.  Instilling these good habits will not only help your children financially in the future, but can also help them think more efficiently.  Here are 7 different ways you can help boost your children's saving and spending habits:

  1. Give your children an allowance—An allowance can offer your kids a way to make money by helping out with household chores.  Giving your kids an allowance will help them have a good foundation to start saving and open the doors to teachable moments regarding healthy saving and spending habits.
  2. Avoid giving money so freely—Even if you're financially able to, refrain from giving your kids cash every time they ask for it.  By doing this, you will be teaching them that they cannot expect funds just because they are wanting it at that specific moment.
  3. Teach your children about expenses—A vital life lesson that you can teach your children is about expenses.  They will need to know what expenses are essential to everyday living and how to prepare for their own expenses one day.
  4. Teach them the importance of saving—Now that your kids have a means to make a little bit of money and they're well-informed of living expenses, it is a good time to teach them about saving.  Also, it is a good idea to inform your kids about the different types of savings plans (ie: personal, emergency, and retirement).  Be sure to reiterate the significance of hard work and how saving money can help you in the long run.  Check out CB&S Bank's article on how to Teach Kids to Save for more ideas.
  5. Create a Savings Account for your children—When you feel that your child is responsible enough, head over to the bank and open a savings account with them.  Some children's savings accounts will even give bonuses on their birthdays, such as CB&S Bank's Super Star Savers Club!
  6. Let your kids join the money discussion—One way to help teach your child good saving and spending habits is to include them in your financial conversations... Don't be afraid to talk about your financial status or make money decisions around them.
  7. Practice what you preach—Parents, your kids look up to you... Watching you is where your children begin to form their values and beliefs... If you have good saving habits, chances are your kids will be more apt to have good saving habits, as well.  Therefore, show your children that you also have healthy saving and spending habits.

 

  1. Personal

    1. Personal Banking
      1. Personal Checking
        1. Personal Checking Account Comparison
        2. Free Checking
        3. Star Rewards Checking
        4. eChecking
        5. Premium Checking
        6. Interest Checking
        7. Prime Advantage
        8. Platinum Checking
        9. All About U Student Checking
        10. Golden Customer Club
        11. Golden Customer Club Plus
        12. Insured Money Fund
      2. Personal Savings
        1. Savings Account Comparison
        2. Statement Savings
        3. Star Rewards Savings
        4. eSavings
        5. Super Star Savers Club
        6. Christmas Club Savings
        7. Vacation Club Savings
        8. Certificates of Deposit (CDs)
        9. Individual Retirement Account (IRAs)
      3. Debit Cards
      4. Safe Deposit Boxes
    2. Personal Borrowing
      1. Home Loans
      2. Personal Loans
      3. Auto Loans
      4. ScoreCard Rewards Credit Card
    3. Account Tools & Resources
      1. Personal Financial Insights
      2. Personal Financial Calculators
      3. ID Protection
      4. Access Line
      5. Reorder Checks
      6. Report Lost/Stolen Card
      7. Download a Switch Kit
  2. Business

    1. Business Banking
      1. Business Checking
        1. Business Checking Account Comparison
        2. Free Business Checking
        3. Business Select Checking
        4. Business Analysis Checking
        5. Business Interest Checking
        6. Business Prime Advantage
        7. Insured Money Fund
        8. Workplace Advantage Checking (For Your Employees)
      2. Business Savings
        1. Business Savings Accounts
        2. Simplified Employee Pension (SEP) Account
      3. Business Mobile Banking
      4. Business Debit Cards
      5. Treasury Management
        1. Treasury Management Services
      6. Merchant Services
    2.  Business Borrowing
      1. Small Business Loans
      2. Commercial Loans
      3. Commercial Real Estate Loans
      4. Credit Cards
    3. Account Tools & Resources
      1. Business Financial Insights
    4. Business Financial Calculators
      1. Capital Calculator
      2. Cash Flow Calculator
      3. Commercial Loan Calculator
      4. Debt Service Calculator
      5. Ratios Calculator
  3. Digital Banking

    1. Personal Digital Banking
      1. Mobile Banking
      2. Mobile Deposit
      3. Internet Banking
      4. Internet Bill Pay
      5. PopMoney
      6. eStatements
      7. MobiMoney
      8. Mobile Wallet
    2. Business Digital Banking
      1. Mobile Banking
      2. Treasury Management Internet Banking
      3. Business Express Deposit
  4. Home Loans

    1. Home Loan Options
      1. Apply For A Home Loan
    2. Meet Our Mortgage Team
      1. Scott Pride
      2. Dean Smith
      3. Lenea Waldman
      4. Charlotte Loines
      5. Alana Beaugez
      6. Bobby Wright
      7. Martha Neely
    3. Mortgage Tools & Resources
      1. Home Loan Insights
      2. Home Loan Toolkit
      3. Home Loan Glossary & FAQ
      4. Loan Calculator
      5. NMLS Registry
  5. Financial Services

    1. Insurance
    2. Personal Investments
      1. Meet Our Team
  6. About Us

    1. Our Story & History
    2. Locations & Hours
      1. Adamsville
      2. Ardmore
      3. Birmingham
      4. Bolivar
      5. Cherokee
      6. Clarksdale Downtown
      7. Corinth Alcorn Dr
      8. Corinth Harper Rd
      9. Cornersville
      10. Decatur 6th Ave
      11. Decatur Beltline Rd
      12. Eupora
      13. Fayetteville
      14. Florence Downtown
      15. Florence Hough Rd
      16. Greenville Downtown
      17. Greenville Highway 1
      18. Greenwood Downtown
      19. Greenwood Park Ave
      20. Hodges
      21. Hohenwald West Main St
      22. Huntsville Downtown
      23. Huntsville Hampton Cove
      24. Huntsville Perimeter Park
      25. Killen
      26. Lewisburg
      27. Madison
      28. Main Office
      29. Moulton
      30. Murfreesboro
      31. Murfreesboro Cason Lane
      32. Muscle Shoals
      33. North Russellville
      34. Parsons Main St
      35. Phil Campbell
      36. Pulaski
      37. Red Bay
      38. Ripley
      39. Savannah Main St
      40. Russellville Franklin Plaza
      41. Savannah Water St
      42. Scotts Hill
      43. Selmer Mulberry Ave
      44. Starkville
      45. Sturgis
      46. Town Creek
      47. Tupelo Gloster St
      48. Tupelo Main St
      49. Walnut
      50. Whiteville
    3. Contact Us
    4. Career Opportunities
    5. Privacy & Security
    6. Terms & Conditions
    7. Disclosures
  7. Education Center


    1. Personal Financial Insights
    2. Business Financial Insights
    3. Home Loan Insights
    4. Home Loan Toolkit
    5. Home Loan Glossary & FAQ
    6. Product Video Demos
    7. Financial Calculators
Go To Top