• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer
We Own Adventure

We Own Adventure

Scouting News for the DC Metro Area

  • Home
  • Submit Your News
  • Advertise
  • NCAC Main Site
You are here: Home / Scouting Programs / Teaching Scouts to Save

Teaching Scouts to Save

November 6, 2019 by Tanesha Siggers

Download Westie's Save, Spend & Share Jar Labels

NCAC is partnering with Northwest Financial Credit Union to provide tools you can use with your Scouts to discuss financial literacy. Watch for future articles to help teach children about saving, budgeting, and more! As the Scout Law says, A Scout is Thrifty!

One might ask, when is the right age for children to learn about saving? Some may say parents should start teaching their kids about the importance of money as early as age two. Some say parents should let children be children and not worry about real-life matters, such as finances. You can teach your children to save money at almost any age, just by following these tips:

No Spoiling

Be careful not to give in to your children every time they ask for toys and gifts. Many parents have their children earn rewards instead of getting things just because they asked for it. If they have to earn something, they are more likely to appreciate its value.

Use Jars to Save

A fun way to help your children save money is to use piggy banks or jars. Using clear jars will give a visual of how much money is piling up and how close they are getting to meeting their savings goal.

Set an Example Through Actions

Our kids learn from us. If they see us doing something, the likelihood they will also do it is high. If your children see you purchasing excessively, they might think that this is a normal part of life.

Start a Savings Account for Them

Open savings accounts for your children as early as possible. It will help you teach them the importance of saving for something special and how to earn dividends.

Credit Cards are Loans

It’s important to teach your kids about loans and debt. Teach them to respect credit cards, how they work and that credit cards are loans.

Allowance vs. Commission

Instead of just giving children a monthly allowance, you could pay them commission in return for doing chores. Money in return for mowing the lawn, doing the dishes, cleaning their room, doing the laundry, and other chores, will help teach them it can be hard work to earn money.

Talk to Them

The best way to get the message about saving money across is by talking to your children. Nothing works better than telling children about the advantages of savings. Teach them what they can do with their savings and how it’s beneficial to save as early as possible. If you help your children to understand the importance of money early, they will develop smart savings habits to use as adults.

Make your own Save, Spend, and Share Savings Jars with Westie! ww.nwfcu.org/youth

Print Friendly, PDF & Email

You Might Also Like...

Scout Builds Bicycle Shed for Brisben Center
Aquia Scouts BSA get “Back to Basics” at Fall Camporee
Leesburg’s Scouts BSA Girl Troop 998 Grows in 2020 and Works to Cement Bonds Across Area Scouting
Your Baker Wants a License to Decorate; We Can Help with That!

Filed Under: Scouting Programs

Primary Sidebar

NCAC Social Media

  • Facebook
  • Instagram
  • Twitter
  • YouTube

Latest Issue

TSD Summer '18 is on Issuu

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • October 2018
  • July 2018
  • May 2018

Featured posts

Troop 492B’s First Eagle Scout!

Family Camping Weekends at Goshen – next up is Labor Day!

Composite Materials is the material science merit badge

Scouts Weld Nameplates on their way to earning new awards

Footer

Categories

Adventure
At Camp
Leaders
Scouting At Home
Scouting Programs

Subscribe for Scouting News!

Follow Us!

  • Facebook
  • Flickr
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

You Might Also Like…

  • Director David Henrie Invites NCAC to Digital Movie Premiere

    August 26, 2020

  • Missing Summer Day Camp or Resident Camp?

    June 25, 2020

  • Microscope + Camping = FUN !!!

    June 15, 2020

  • Family – Fun – Flag – FOURTH!

    June 14, 2020

  • Guidance on Resuming In-Person Scouting Activities

    June 12, 2020

  • NCAC Scouting at Home 2020 Award for Unit Scouters!

    May 29, 2020

  • Introducing the NCAC Scouting at Home 2020 Award!

    May 11, 2020

  • NCAC Response to COVID-19

    April 4, 2020

  • Scouting At Home Challenge!

    March 19, 2020

  • Scout Service Center Closing

    March 17, 2020

  • Help Celebrate NCAC Camping Centennial at Camp Snyder’s Work Days for All

    March 5, 2020

  • General David L. Goldfein Receives the Distinguished Eagle Scout Award

    February 25, 2020

  • TUSKEGEE AIRMAN RECEIVES NCAC LIFETIME ACHIEVEMENT AWARD

    February 14, 2020

Copyright © 2022 · Genesis Elk on Genesis Framework · WordPress · Log in