Teaching kids to save their money can be hard. Heck convincing myself I need to save money seems nearly impossible sometimes. That’s why I decided to try something new with my kids this year. This year we will be saving money 1¢ at a time.
Here’s how this works. First you will need a jar. I chose a nice big one since we will be adding lots of coins in (because that’s the type of money my kids have). You can get a jar like mine HERE. Next you will want to print a label for your jar. HERE is the label shown in the picture above, available for you to print for free. Lastly, you will need some loose change. We all have some of that lying around. I usually tell my kids they can have any loose change they find, this is perfect for helping them supply the money for this fun money saving project!
Now there is one more item you might want/need. I have gone ahead and made this Yearly Savings Chart HERE that you can print. It lists all of the money amounts for each day. Laminate it (if you want) and mark off the day or money amount you have added to the jar for the day. What I like about this is, if you have a quarter on hand you can go ahead and drop it in and mark off the 25¢ spot. You don’t necessarily have to add the money in order, just make sure you add some amount each day and mark it off on the chart! Super easy right!
So check this out…add 1 penny for each day of the year to your jar and by the end of the year you will have saved nearly $668! That is the perfect amount to get a kids savings account started for a future car, video game console, college or whatever!
This year I am having all 4 of my kids participate together (sharing the one jar and duties of adding money). Next year we will have them each do their own as they will all be a little older and have hopefully established each their own habits of adding the money.