Long-Term Savings Jar

The fourth jar is the Long-Term Savings Jar. Another 30% goes into this jar or pouch. Yes, this means your 3-year-old is starting to save for college. Premature? No way. This is all about habit building and starting those habits early.

Does a 3-year-old child understand the concept of long-term saving? Absolutely not!

Does a 10-year-old understand the concept of long-term saving? Absolutely not!

Do the adults in America understand the concept of long-term savings? Absolutely not!

So, here is a chance for us to instill these values in our young children. Saving has to become a habit, like taking a vitamin pill. In fact, sometimes making sure your kids start saving as 3-year-olds and keeping them at it, can have unexpected side benefits.

I can't tell you how many parents have come up to me and tell me, "I drilled saving into my kids long enough that finally it started to rub off on me."

As a parent, keep in mind there are few joys in life more satisfying than earning your own money and then buying something you really want with it. Remember the satisfaction you enjoyed when you bought your first stereo or car or house?

Parents can show their children this joy at a very young age, and it will become a gift their kids will benefit from all their lives.

Get your kids started on the road to financial literacy at MinyanLand.com
 
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