How to Save Money: A Kid’s Guide to Building your Piggy Bank

Imagine one day, you’ve been saving your coins in a jar for weeks. You finally count them, and you have enough for that toy or game you’ve been wanting for months. That’s the estatic feeling you get when you save money. It’s not about having cash; it’s about building that treasure for your future adventures.

Whether you get money from chores, birthdays, or a little side hustle, learning how to save is one of the most important skillls you can have. Let’s break it down step-by-step so you can start building savings like a pro.

Step 1: What are you saving for?

Saving money is much easier when you have a reason to. Ask yourself: What do I want my money to do for me? Do you want a new game or toy? Maybe a trip to a fun place like an amusement park? Do you want to start your own small business? Write down your goal, and keep it somewhere you can see everyday. This “somewhere” could be on your wall, in your wallet, or next to your piggy bank. Everytime you think about spending money on something small, remember your “why”.

Step 2: Create a Short and Simple Savings Plan

Even if you’re just starting, having a plan keeps you on track. Here’s an example formula:

• Save some (for your goal), Spend some (for fun), and Share Some (by helping others)

For example, if you earn $10, you might: save $6, Spend $3 and donate $1.

This way, you’re not only working toward your dream purchase, but also learning how to manage money like a business owner.

Step 3: Use the Right Tools

You definitely don’t need a fancy bank account to start saving, but it can help! Here are a few options: Piggy Bank or Jar, Envelopes, and Youth Bank Account. These are all convenient ways to manage your money effectively.

Step 4: Practice the “1 week rule”

Often times you think you need something, and wanna buy it on an impulse. But did you even care about it? Wait one week before buying something you think you want, before you buy something unplanned, wait. You could ask yourself questions like, “Do I really need this?”, “Will I still care about it next week”, or “Will this get me close to my big goal?”.

You’ll be surprised how many times the answer is “no” to these questions. That’s money you can save instead.

Step 5: Find Creative Ways to Earn More

Saving money becomes a lot easier when you’re also earning more! You don’t need to be an adult to make extra cash, you just need creativity. Here’s some kid-friendly ideas: Handmade jewelry, wash cars or bikes, offer pet sitting, help neighbors with gardening. The more you makes the more you can save towards your ultimate goal.

Step 6: Track your progress

Keeping track of your savings is like leveling up in a game. Every dollar you get is another step closer to “winning”

Some of the ways I found to be the most creative were keeping a notebook, using a kid-friendly budging app, or drawing a thermometer chart and color it in as you save (A personal favorite!)

Tracking your progress makes saving fun and motivates you to keep going.

Step 7: Learn to Say No (Sometimes)

The hardest part of it all might be to say no. You’ll see things you want now, and it really can be tempting to spend your savings but remember: every “No” today is a bigger “YES” to your dream goal later.

Saving money just isn’t about buying things, it’s about building habits that will help you for the rest of your life. When you’re older you might use your savings for: starting your own business, traveling, or paying for school. If you start now, you’ll already know the tricks that take most people years to learn.

So grab your piggy bank, write down your goal, and start saving today. Your future self will thank you!