What can we do to cultivate saving habbit in teenagers?

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What can we do to cultivate saving habbit in teenagers?

Post by ashwini on Sat Feb 02 2008, 18:46

My brother doesn't save a single rupee out of his pocket money...Spends all money in no time and asks for more... What can be done to bring in the habit of some savings in children?

Some tips/tricks pls...

ashwini
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Re: What can we do to cultivate saving habbit in teenagers?

Post by enidhi on Mon Feb 04 2008, 10:40

Give him some incentives-if he saves 100 Rs by end of month, reward him to double his savings by contributing 100 Rs from your side...

Downside-he should not borrow the money from elsewhere to show as saving-ensure that saving is maintained in a bank..

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Re: What can we do to cultivate saving habbit in teenagers?

Post by rakeshkamble on Mon Feb 04 2008, 17:48

Good tip Nidhi.. I liked
Downside-he should not borrow the money from elsewhere to show as saving-ensure that saving is maintained in a bank..

Saving in Bank- He will be exposed to Banks and its process which will helpp him a lot in future... Also let him know about http://moneytalk.enidhi.net/news-media-updates-f76/warren-buffet-s-life-style-t51.htm

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Re: What can we do to cultivate saving habbit in teenagers?

Post by ashwini on Mon Feb 04 2008, 21:11

Thanks enidhi... Will try this out-it should work...

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Re: What can we do to cultivate saving habbit in teenagers?

Post by enidhi on Mon Feb 04 2008, 23:37

You're welcome. In fact I am planning to write a detailed post on this in my blog-standby.

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Re: What can we do to cultivate saving habbit in teenagers?

Post by enidhi on Fri Feb 08 2008, 12:32

Read this post for more tips

http://www.enidhi.net/2008/02/how-to-cultivate-habit-of-savings-in.html

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Re: What can we do to cultivate saving habbit in teenagers?

Post by ashwini on Mon Feb 11 2008, 10:42

Thanks. Quite a good collection of tips...

ashwini
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Re: What can we do to cultivate saving habbit in teenagers?

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