We are a consumer society, or that’s what its being installed in our minds and we,
like good followers, do as we are told. Lately we have discovered that it has been wrong all the time to follow our government and companies to go and spend money to improve the economy. Well, we have been doing this for ever and what has led us to? Our children have no concept of savings and after all the things we get for them, they always get bored and when it comes the time to go to College or to become independent, they cannot do it on their own. We are at fault! We have not done our part in showing them that it is important to start saving when they are young to be able to get on with their lives in a smart way. If we had saved all the money we spent in toys, gadgets for them, they would have had enough to pay their College tuition and much more.
Children do not understand the concept of savings, but if they see you and hear that you did not buy them the toy they wanted, but instead you started a savings account for their future, they will eventually get it and will start the same practice. I am doing this with my grand daughter, she is 5 years old and I started a savings account for her last week. I told her but she did not understand the whole idea, but I know she will be very happy the day she needs to use her savings, and also, during this process she will see how important it is to save for the future. The best teachings come from home and this is one that will change our future because our children are the future and if they are not ready to meet their financial needs, they will be in the same boat many people are today.
Discipline is another thing they will learn while saving. Not to go out and spend money in things they see on TV will develop a discipline that will change their lives. If we all do our part teaching our children to importance of saving money even when they do not understand, we will see them enjoying life, taking care of themselves and teaching their kids to do the same.
The average person in the US have hardly any money saved. Do we want the same for our children? I do not, and thats why I decided to make a change in my grand daughter’s life. Hope you all decide to do the same to help them succeed.