Do not engage him in a habit of getting money easily.

Instill the discipline. Give only if necessary. Better yet, wait until he is a little older before you allow him to use his own cash. He values what he does not easily get.

Constantly ask for what things he spent his money on.

Call his attention for spending which is not really important. Realizing that you are monitoring his moves will force him to spend his money wisely for items he really needs.

Own a piggy bank. This is the simplest and easiest way to introduce your children to the idea of saving money. Develops the habit of dropping coins is an exposure to savings. Not to forget that having money saved can inspire them to take control of spending habits but to buy what they aim for their future as well.spend!!!

Open a savings account.

When children have gained some experience in money handling, it’s time for them to be exposed in opening their savings account. Not only they teach them to save but open on the reality of saving for future needs. Making them involved in depositing and tracking their balance, and be taught of “interest” makes their savings experience more exciting and meaningful.

Take time to reflect, teaching your children to save is not that hard. Be smart! Anyway, it’s a good idea to start saving when you are still young.