The world we live in seems to demand instant gratification. Once upon a time, when we wanted something, instead of flashing the credit card or borrowing from the bank, we saved our money to get things important to us. With what has been happening in our economy, more people are re-discovering these "old-fashioned" values and think it's important to teach them to children at an early age.

 

April 24th is National Teach Children to Save Day. It's a day to teach our young ones the importance of saving and making fiscal fitness a lifetime habit. It's a habit that a lot of adults could benefit from developing.

If your kids have income from an allowance, from getting good report cards, from picking up coins they find under Dad's recliner, it's important to teach them the benefits of saving money for things that are important to them. Perhaps they do jobs around the house or in the neighborhood.

Get them started early with a savings account or at least a piggy bank. Keep track with them as they add to their savings. If you are able to, match a certain amount of what they save to encourage more saving (some companies do this for employees who put money into a 401k plan. If you don't take advantage of matching dollars, it's like turning down a raise).

If you and your children start the savings habit early, you might be surprised how much wealth you can accumulate over time.

Once you do, buy yourself something nice!