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The Benefits of Savings

Teaching kids the importance of saving money from a young age provides many lifelong benefits. It helps them learn the value of money, avoid wasteful spending, grow into smart adults, and develop important financial skills like calculating savings. Starting money saving habits as young as age 3 helps kids understand that saving money is earning money and a valuable asset. Parents should encourage kids to save portions of their pocket money and gifts to learn control over spending and the concept of saving for future goals and purchases.

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672 views2 pages

The Benefits of Savings

Teaching kids the importance of saving money from a young age provides many lifelong benefits. It helps them learn the value of money, avoid wasteful spending, grow into smart adults, and develop important financial skills like calculating savings. Starting money saving habits as young as age 3 helps kids understand that saving money is earning money and a valuable asset. Parents should encourage kids to save portions of their pocket money and gifts to learn control over spending and the concept of saving for future goals and purchases.

Uploaded by

nuzaihan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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I bid a pleasant morning to the honourable

judges, teachers and fellow friends…


On this beautiful day I would like to deliver a
speech entitled…
The Importance of Saving Money for Kids
“Save money and money will save you!” This single sentence describes the
importance of saving money in a significant manner. Saving money is a beneficial
habit that helps us for lifetime. It provides financial security and ensure a prosperous
future.
Teaching money-saving habit to kids at a younger age helps them grow into smart
and intelligent adults.
Keeping aside a small portion of money from the regular income after the money
being spent on essential expenditures is known as savings or the saved money.
Parents give pocket-money to their kids and sometimes they receive it in the form of
cash as a token of love from their loved ones. Parents should make their kids learn
to save the money.

It is very important for kids to know the importance of


savings…By saving money,
First, they will learn the value of Money…

“A penny saved is a penny earned”. Let the kids learn and understand the value of
money. The kids slowly get to learn that saved money is like earning money, when
they start having their own savings. Also, they will learn with time that having money
is a valuable asset. They will also gradually understand that money is earned with
hardships so one should save it!

Second, learn to avoid wasteful expenditure


Kids automatically learn to avoid wasteful expenses when they start saving money at
their own. In the beginning, they might wish to spend money for small items like
candies, chips and toys. However, parents should encourage them to save it for
buying something important. This way, the money-saving habit teaches kids to
control unnecessary expenses and buy something useful and important.

Third, kids will grow into smart and wise adults

Early money-saving habits help kids grow into smart & wise adults. They get to learn
the concept of ‘less is more someday’. Hence, encourage them and make them learn
how and why save money, at an early age. Surprisingly, kids can start learning this
concept as early at an age of 3!

Last but not least,they will learn about financial skills and calculations

Kids get to learn how financial goals are set and how those goals can be attained, by
saving money at a young age. Money saving habit also develops faster calculating
skills in kids. They also get an idea of how the banking system works.
It can be concluded that kids enjoy many benefit when they get to learn and value
the concept of saving money. The finance lessons, which they learn at this age, help
them forever! So encourage your kids for saving money now!

WITH THAT, I THANK YOU…

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