Breakthrough Performance Coaching for Small Business Owners

Kids Savings Ideas – 6 Easy To Start Ideas For Any Age

Kids savings ideas make me smile. Little minds dreaming of the future? That’s good stuff.

That’s why it is so important to prepare you with these six kids savings ideas.

I cover several more of these here.

Learning to save at an early age is the key to long-lasting foundations and a good relationship with the money for kids.  

Kids that do not learn to save may end up in debt or doing without. I’m sharing this information so you can start your kids down the yellow brick road of saving right now.

Kids Savings Idea #1 – Teach The Money Ratio


The money ratio is 10/30/60.  Give 10%, save 30%, and live on the remaining 60% of what you earn.  

You can use this to know how much to spend on your home or your 10-year-old can use the ratio to know when they’ll have enough for that iPod.

Good thing to do is to check yourself and your habits before having the conversation with the kiddos.  Make sure you are walking the walk before you talk the talk. Kids see through the bull.

Kids Savings Idea #2 – Design Three Piggy Banks (Give, Save, Live)


  1. Get three ordinary containers.  Mason Jars work great. It’s important that the containers are clear so they can see progress.  
  2. Have them draw a picture that represents each money bucket, give, save, & live. Tape them to the front of each of the jars.
  3. Talk with them about giving and ask what cause or whom they have in mind with the giving.  

Ask them how they think their contribution might help. How they would feel receiving the gift and then ask them to picture the recipient and how they will feel.

Word painting like this is a powerful way to connect the efforts of earning and giving to real people.  That will prove helpful if they get reluctant to share their money.

As you are making the jars together, ask them what they think each jar’s purpose is for.  “Living is for that shirt you wanted from the store.”  Let the conversation be the teacher. Ask the questions and guide them to discover the answers.

Kids Savings Idea #3 – Create A Savings Goal


When you make your saving jar, the conversation will take you to the outcome goal naturally. “What are you going to save up for?”  My daughter wanted an iPod when she was younger. That is a good “outcome goal” and an outcome goal is quite necessary.

The outcome goal tells you what you will achieve, but it does not cover how you will get there.  I’m talking about the baby steps needed to reach the outcome goal. For that, you need to talk about a process goal.

Process goals are the tactical and tangible things they can do regularly to reach the outcome goal.  

For example:

  • Put $3 in your bank each week for the next 10 months
  • Save 30% of whatever I receive (gifts, pay, allowance, find, etc.)

They can easily keep track of that on their own and you can check in on the progress.  

For younger kids or beginners to start off with something small that takes less time to achieve.  Taking too long won’t teach children delayed gratification. It teaches them it doesn’t work.

Think of something they can achieve in just a few weeks.  Then extend the limits as they go. Think of it like lifting weights.  It takes practice, repetition, and results to stay motivated.

Kids Savings Idea #4 – Help Them Earn


It’s a good idea to have a list of chores that are age appropriate for your children to do.  

Choose jobs that they can finish within 30 minutes and require your help. Here are some age-appropriate chores:

3-5 Years old

  • pick up room and/or playroom
  • Help fold socks
  • Put crafts away
  • Pick up pine cones/sticks

5-8 Years old

  • All of the above
  • walk the dog with you; pick up the poop
  • Put clean laundry away
  • Set the table
  • Wash the car with you

8-12 Years old

  • All of the above
  • Put clean dishes away
  • Sweep or blow out the garage
  • Feed the dog/cat

12-15 Years old

  • All of the above
  • Wash clothes
  • Clean bathrooms
  • Clean kitchen
  • Vacuum

Choose chores you can do with your child and seize the teaching moment.  Set clear expectations.

“I would love to see you doing this on your own soon.”

This lets them know why you are doing less and less of the chore as they take more and more ownership. Without a clear expectation, your child will wonder if you value the chore anymore.

Kids Savings Idea #5 – Make Savings A Habit


Back to our process goal of depositing 30% every time they earn money.  This is not auto-pilot. FOLLOW UP for this to be effective.

“Here’s the $10 you earned.  Are you still putting money in your jars?”  It is that simple.

Whatever the answer they provide, ask questions to get them talking about what they have learned.

Try only asking questions for as long as you can instead of telling them how to do it.  Their answers are where the real learning moments will show up.

Kids Savings Idea #6 – Celebrate Hitting the Goal


Get visual. Using a vision board is a great kid savings idea. Kids learn about delayed gratification through visualization.

Get some magazines or print off internet pics of what they want and paste them to a board. Even better help them or draw their treasure.

The time they spend doing this exercise with you is a great time to talk about the benefits of delayed gratification.

Connect with them. How will they feel in the moment they actually get their prize.  “What will you feel like when you pay for your iPod?” “Proud? Happy? Excited?”

Connecting the feelings to future moments transports them in time to that moment.  They can associate that moment with efforts they have put in.

Hitting their savings goal is a big moment, especially when it is the first time. Celebrate the moment.  Make a BIG deal. When they are approaching the completion of the goal, spend time with them planning to go and buy it.

For the first goals, do not to buy online. This needs to be as tangible as possible.


  1. Use a plan – 10/30/60 rule
  2. Create a place – Create three banks
  3. Have a goal – Outcome goal and process goals
  4. Give help – Roll up your sleeves – teach as you go
  5. Make saving a habit
  6. Celebrate success


For more tips on savings, servant leadership, or just being a better man, sign up for our newsletter and get “101 Ways To Be A Better Man” as a free gift.

Ryan McKinney

Ryan McKinney

Ryan is a leadership coach, sought after speaker, and transformational workshop facilitator. He works with highly successful business leaders to develop discipline, enhance leadership, and build confidence so they can enjoy the success they deserve without giving up what they want most.

Join The Leaders Circle Community

Are you looking for great material to use with your team? Join and get free access to paid content.