Posted
on Thursday, April 24, 2025
in
Financial Education
Encouraging Children to Save
Helping kids develop smart money habits may seem like a tall order, but it can start with something as simple as a coin in a piggy bank. Thats the goal behind National Teach Children to Save Day, celebrated annually on April 24. Sponsored by the ABA Foundation and Boone Bank & Trust Co., this free national program is designed to help young people begin building healthy savings habits early in life.
In honor of the day, Boone Bank & Trust Co. is sharing fun, practical strategies that parents can use to introduce their children to the value of savings- and turn it into a rewarding experience for the whole family.
Why Teaching Kids to Save Matters
Learning to save is a foundational life skill that can set children on the path to financial confidence and independence. When kids understand how money works- and how to manage it- they're better prepared for the real world. And who better to teach these lessons than parents?
By weaving money habits into everyday routines and making the experience fun, parents can lay the groundwork for a lifetime of smart financial decisions.
1. Start with a Piggy Bank
Sometimes, the best tools are the simplest. A piggy bank is a great way to introduce the concept of saving. It makes money feel tangible and visual—kids can watch their savings grow with every coin they drop in. Let them choose a piggy bank in a fun shape, color, or theme—or turn it into a craft project by decorating one together.
2. Use a Savings Chart
Visual learners will love this one. Create a sticker chart or savings tracker to help your child set and reach small financial goals. Maybe they’re saving for a toy, a treat, or a family activity. Every time they add to their savings, they get a sticker. Once they reach their goal, celebrate with a fun reward—like a movie night or special outing—to show that saving pays off.
3. Tie Allowance to Chores
An allowance can be a powerful teaching tool, especially when it’s connected to completing age-appropriate chores. This helps kids learn that money is earned through effort, not just given. It’s a great way to teach responsibility, discipline, and the satisfaction that comes from working toward something.
4. Make Money Lessons a Game
Game night can double as money school! Board games like Monopoly, The Game of Life, and other finance-themed games are packed with lessons about budgeting, saving, spending, and investing—all while keeping kids entertained. It’s a playful and stress-free way to spark conversations about money.
5. Take a Trip to the Bank
A real-life trip to the bank can be an eye-opening experience. Visit Boone Bank & Trust Co. and show your child how to deposit money, use the ATM, or ask questions about how banks operate. Some branches even offer tours, where kids can see the technology behind the scenes—and maybe even take a peek inside the vault! If your child is ready, this is also a great opportunity to open their first savings or checking account.
Building a Bright Financial Future
Teaching kids to save isn’t just about money—it’s about preparing them for life. When parents introduce these lessons early, they help children build confidence, responsibility, and the skills they need to reach their financial goals.
So this National Teach Children to Save Day, make saving a part of your family’s everyday fun. It’s one of the best investments you can make in your child’s future.
Learn More
For tailored tips and helpful financial education tools, visit our Information Center or stop by your local Boone Bank & Trust Co. location- we're always happy to help!
These tips are provided by the Iowa Bankers Association