Teaching children to save and invest

The value of savings

The lesson is simple–if you want something, you have to save for it. Talk to your child to find out what it is that they want. Once you know what it is and how much it will cost, work with your child on how to save for it.

Give them options for reaching their goal. If your child receives an allowance, talk about saving all of the allowance for a certain number of weeks versus saving half of it for twice as long. This teaches your child to view their options and make informed decisions about how to manage money.

Encourage children to save their money

Once your child has learned how to save money to achieve their goals, it's time to talk to them about how to earn money through interest accumulation. Learning about the benefits of compound interest should encourage children to invest their money in income-producing securities.

Stay involved in the process

Most children look to their parents as a primary source of financial information. This makes it important for you to stay involved with your child throughout their learning experience with saving.

Practice what you preach

You can talk to your child about investing until you're blue in the face, but chances are good that they won’t pay close attention to the subject unless you're following your own advice.

Take a moment to speak to your child about investing in their future. Then, contact your Desjardins Agent who will help you look at the options that are right for you and your child.