Children's savings: teaching them to set money aside
AmanaFi team · Updated · 1 min read
A child learns to save when the goal is concrete and near. A piggy bank, a visible goal and the parents' example do more than long talks about money.
A concrete, near goal
A small child does not grasp "saving for later". Offer a goal reachable in a few weeks: a toy, a book. Quick success creates the wish to do it again.
Three pots
A simple method is to split pocket money into three parts.
- Spend: for the wants of the moment.
- Save: for a bigger goal.
- Give: for sadaqah, to link generosity and money from the start.
Lead by example
Children copy what they see. Talk about your own choices simply: "we wait until we have saved enough before buying". A parent who plans purchases teaches better than any lesson.
Frequently asked
At what age should I start?
As soon as the child understands a coin has value, around four or five. What matters is starting with small amounts and short goals.
Put it into practice with AmanaFi
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