Smart Saver Tips for Parents:

• Instead of constant cash handouts, consider providing a weekly allowance and help your children make a budget for spending,  giving and savings.
• Make sure your children understand the relationship between the number on a price tag and actual money. You can show relative costs by using actual dollar bills or play money.
• Take your children on a family field trip inside the bank. Call ahead and ask for a tour. Explain how an ATM machine works.
• Help your children find ways to earn their own money, such as  contributing personal items to a garage sale, doing odd jobs (washing cars, pulling weeds, running errands), or creating their own businesses (lemonade stand, walking pets).
• Give your children their own piggy banks and once they reach their first savings goals, take them to the bank to open minor savings accounts; set up a family account at the same time and develop timelines for future deposit goals.