Monday, March 29, 2021

Teaching kids the importance of saving for the future


It is a fact that education is the best legacy parents can leave their children. This doesn’t only mean sending them to the best schools, enrolling them in workshops to hone their God-given talents, but also teaching them the necessary life skills to survive.

Teaching kids the importance of saving for the future

We always remind our kids that they need to learn how to be innovative. Not in the sense of being smart like learned in school. The kind of savvy that will keep you one step ahead in real life. They have to become street smart, be resourceful, know how to put on the moves, learn how to play the game. The truth is we, their parents, won't be around forever. But while we are still here, we need to guide them, make sure they'll make it. How?

Here are some learning tips that both parents and children can do together.

Thinking abundantly. 

Instead of saying you can’t afford something your child wants, sit together and discuss ways to earn the money needed to make the purchase. This creates a mindset of abundance -- instead of being defeated by scarcity, show how hard work and smarts can get us what we want. Money is always there; we just have to figure out a way to earn it.

Business and investment. 

It’s so easy nowadays for young people, even children, to start a business. Many people are now selling food, products, and services online. Take the time to Google ideas for a business that your child can put up. As for investing, there are online resources that can help you teach the basics to your child.

Spend on needs before wants. 

When it comes to their allowance, spending on food, school supplies, and school requirements should take priority over toys, accessories, and other non-essential wants. This basic principle is the foundation for teaching your kids how to create a proper budget.

Savings for your child’s future. 

Explain to your kids the basic reasons for saving regularly and consistently: we save in order to anticipate emergency situations and we save to prepare for a future, essential expense. Give examples that your child can relate to.

Teaching your child the habit of saving money is so much easier when you work with your bank. BDO, for example, has a Junior Savers Account specially designed for kids. With an affordable initial deposit and a low maintaining balance, the Junior Savers Account is easy to open and maintain at any BDO branch. 

Once your kids already have a BDO Junior Savers account, help them grow their funds by scheduling regular deposits using your BDO Digital Banking account. Setting the amount and date of transfer can easily build their savings and teach them more money lessons.

Teaching kids the importance of saving for the future


Learning to save money is the primary step for anyone, even a child, to learn proper money management and, eventually, start building wealth. By taking these first steps with your child, you’ve already given them true riches.

If you’re a parent, making saving a regular part of your child’s routine can lay the foundation for a bright financial future. 

Give your kids a financial head start.

8 comments:

  1. Yes maganda po sya na habang bata palang marunong ng mag impos.. if ever mag open po ng account do I need po ba na hulugan sya every month?

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  2. Madali lang po ba mag apply at ano requirements sa pag open ng bdo junior account maganda po kasi ito para sure na siguro na tayo sa future ng mga kids natin..gusto ko din po mag open ng gantong bank account para sa anak ko para nadin sa Future na gusto nya pag nag aral na sya

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  3. Save for the future! Isa talaga ito sa natutunan ko sa aking ina. Nakita ko noon paano nya itabi at hati-hatiin ang aming kita sa tindahan para sa iba't ibang expenses at ang dapat ilagay sa banko. Tanda ko din kung paano ako tuksuhin ng aking mga kapatid tungkol sa pagiging "matipid/kuripot" ko sa mga nakukuha kong aguinaldo.😂

    Saving money is a great habit we could teach our kids. Kahit simulan muna ito sa pagiimpok sa maliit na piggy bank. Include them in the process para makita at matuwa sila kapag dumadami na ang kanilang ipon. At kapag sapat o higit na ito, maaari na nating ilipat sa kanilang bank account. Napakagandang programa talaga ng BDO ang Juniors Savers Account.

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  4. Gusto ko po itong BDO Junior Savers para sa mga kids ko,sa panahon po kasi ngayon mahalaga din kasi na may ipon sila para na din sa future nila.Hindi naman kasi habang buhay ay nasa tabi nila tayo,mas okay na din na habang bata pa sila ay marunong na silang mag ipon.Malaking tulong po yong mga tips mo momsh,salamat sa pagshare.
    Dhel Manog

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  5. Thanks for this momsh.Napaka halaga na ipamulat natin sa anak natin ang kahalagahan ng pag iipon kahit na sa paunti-unti pag pinagsama-sama at inilagay sa bangko ay dadami rin.Kaya natuwa ako na may ganito ang BDO pwede na makapag ipon ang anak natin na sa kanila mismo nakapangalan para sa future nila ay may madudukot din.Sa pag iipon mas napaghahandaan natin ng kanilang kinabuksan.

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  6. magandang motivation ito para sa kinabukasan ng atingmga anak..Na habang bata pa sila ay maturuan na on how to spend money wisely.Invest natin sila ng ganitung savings para incase of emergencies or para sa future schooling nila meron silang makukuha..Thanks for sharing this Mommy.salute to BDO ♥️

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  7. As a parents we wants everything, anything for our children. We wants all the best for them. Savings for their future is like giving them a bright financial Future. That's what I want for my kids too. I'm planning too, Mommy to open account (BDO Junior) for my kids. Actually matagal ko n po SyA balak. Nung Isa palang anak ko. Now po tatlo n sila. Kaya kailangan n po tlaga. Maliit man ihulog ko monthly pag naipon lalaki din un. Anything for my kids. Sna po soon. Maka open acc nako in Jesus name🙏❤️

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  8. Tama po mommy.Mas mainam habang bata pa sila matutunan nila ang pag-iimpok at mapag handaan natin ang kanilang kinabukasan

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