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Teach Children About Saving: Start Early

Allowances. Sit down with your child and encourage them to identify ways for them to earn money through age-appropriate chores. Help them make a list and keep a chart of all the chores they complete. The amount of chores can be based off of age - 4 years, 4 things a week. The lesson is that money does not grow on trees - there is a value to money and it is earned through hard work.

Shopping. Make a grocery list and get kids to cut and organize coupons with you. Take them to the store and have them match the coupons with the items on the shelves. As a reward, give them some or all of the money saved from using coupons. 

Celebrate saving. Put a picture of the item for which your child is saving on the piggy bank or jar they use to visually reinforce their goal. Track the child's progress with a colorful chart that can be posted on the refrigerator or bedroom door as a reminder of the child's achievement. Give them recognition for their discipline when the savings goal is reached. 

Trips to the Bank. Take children to the bank periodically for visits and to learn more about saving and spending.

Withdrawing money from the ATM. Teach them about the "invisible money" at ATMs and how it really works. We know it isn't free, but do they?