Early Habits Equal Successful Futures

Is there anything more adorable than watching a baby say their first words? You don’t even need to have children of your own to witness this momentous occasion either, you can practically stumble across adorable, first word videos just by scrolling through Facebook.

It’s actually pretty fun to watch children learn anything new.  Initially it can be comical, a little awkward, and sometimes frustrating, but inevitably it ends up remarkable.  Children and young adults alike have the extraordinary ability to learn at lightning speed.  You may have also seen videos of three-year old’s skiing, two-year old’s solving the Rubik’s Cube and maybe a five-year old presidential expert.  Is there anything these tiny humans aren’t capable of?  It may take a village to introduce the lessons, but I think we can all agree that getting a head start during the formidable years is extremely beneficial.

I’ll be the first to say that being able to do a no handed cartwheel on a balance beam at six, seven or any age is stunning, but have you ever seen a five-year-old race to their piggy bank with a ten-dollar bill they just pulled out of a birthday card?  You probably just got goosebumps if you have.  Come to think of it, there aren’t nearly enough video compilations of this sort of breathtaking, adolescent moment.  Is there a possibility that we could collectively turn this life changing habit into the next TikTok trend?  Who’s with me?  Surely there must be a dance move that we could use to demonstrate the importance of saving money, right?

Regardless of which method we use to teach fiscal responsibility, the importance of saving money at a young age is a crucial and sometimes overlooked lesson.  Afterall, saving money doesn’t come naturally. It requires a lot of discipline and like learning to crack the Rubik’s Cube, it can be incredibly difficult to master if you don’t practice.  The good news is, once it becomes a habit, children and teens will be much more likely to control their financial future.  And, let’s be real here, time is always an advantage; especially when we’re talking about saving for the future.  So, begin teaching the youth in your life to stuff those ten-dollar bills into their piggy bank today.

Another perfect investment option is a savings account.  Most youth savings accounts are created to assist the youngest savers, with minimum opening balance requirements, the ability to earn interest and waived maintenance fees until adulthood.  They’ll also likely have the opportunity to go to the bank where Financial Account Representatives are happy to assist and encourage new savers.

Young savers are also more likely to create budgets to cut out unnecessary spending in effort to save more.  Budgeting is a fantastic tool to learn early on and will continue to be a lifelong asset.  It’s easier to comprehend the value of something when you link the money you want to spend to how long it takes to earn or save. Eventually, the habit of saving money will turn into saving’s goals, like a first car, college tuition, a mortgage and even retirement. And, attaining goals comes with a sense of satisfaction and achievement, leading to a cycle of positive reinforcement.

A wealth of experience comes from long term habits and there’s no better time to begin than today.  Children are brilliant and excited to learn new things, so make sure to introduce them to a piggy bank at an early age.  And hey, when they get excited about a handful of pennies, do the social scene a favor and record and share that moment.  Go viral, start saving.