How do I get my children to save more?
A great way to encourage your pre-teen or teen to save is to have them think about their values; the things in their life that are most important to them. When your financial goals are tied to your values you feel much more motivated and compelled to achieve them. Especially for teens it’s an important lesson that the money that they earn is not just for spending. Some of it is for saving towards the things they really want to have and do.
Robin Taub is a Chartered Accountant, and author of the book “A Parent’s Guide to Raising Money-Smart Kids”.