As a Private Wealth Financial Advisor with over 25 years of experience, Jennifer provides guidance to individuals, families, foundations, and institutional investors. Through a long-term investment approach, Jennifer helps high-net-worth clients develop and implement strategies to support their financial and life goals.
To teach children to save, create a set list of chores they can do that are age-appropriate. Determine an amount that they receive for each type of chore and have the amounts vary based on the task. Then your child can start making decisions themselves on what chores they want to do. Make a chart to show them how much they have saved over a set period of time so they can see their progress. This exercise motivates your children to learn how to make choices and see the benefits of their ‘labor’.3 May 2021