Today, I’m going to help parents who have kids that spend too much money. Here are some money saving tips you should show them:

3 Tips For Showing Your Kids How To Save Money

Saving money is an important part of everyone’s life. When you save, you give yourself a better chance of a bright financial future. As parents, we tend to save as much as possible for our children. We save cash to help pay for big things in their life, like a first car or college education. The problem is, sometimes, your kids aren’t saving money too. In fact, they’re spending all their money as soon as they get it. So, they end up asking you for more money to go out with friends, etc.

Shop For Clothes In Clearances

No doubt your kids will spend a fortune on clothes. They’ll ask for money on their birthday, then spend it all on expensive clothes. They could save a bucket-load of money if they shopped in the right places. Every main fashion retailer will have a clearance section on their website. This is where they sell clothes for cheap. They do this because they’re old clothes that are out of season. The thing is unless you’re a fashion design, this doesn’t make a difference to you. They can get designer brand clothes, for half the price. Get them to shop in the clearances, and always look for voucher codes before they buy too.

Stop Paying Crazy Taxi Fares

When you’re kids enter their late teens, they start going out a lot in the evenings. As a result, they often need a lift home. Normally, they find the nearest taxi and pay a large fare. But, they can save loads of money if they used a rideshare company like Uber or Lyft. They offer cheaper fares and a more reliable service. In fact, as you can see on sites like Rydely, there are many promo codes and offers too. Your kids can save so much money on transport if they’re clever and make this change.

Set Up A Savings Account

The easiest way to get your kids to save money is to encourage them to set up a savings account. In truth, this is something you should do for them when they’re very young. Create a savings account and add some money to it now and then. When they get older, they’ll have a nice amount saved up already. Then, when they’re old enough to access the account, they can add their own money to it. If you have kids that are in their late teens, they can set up these accounts themselves. Go with them to the bank and get things sorted. Now, they have a real way of saving money every month.

With these tips, your kids can start saving money, fast. No longer will they nag you for spending money, as they won’t have wasted all of their cash! Naturally, this advice is for parents with older kids between the ages of around fourteen and above. Younger ones aren’t going to have any money to waste! If you’re looking for more parenting advice, then there are plenty of other articles on this site.  

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