How To Help Kids Save Money: A Real Family Story
How to help kids save money is something every parent wishes they knew the best way to do. Marie’s mom, a hardworking single mother, was trying to show her how to save, but it wasn’t as easy as it seemed.
Saving Money For A Toy
Marie had her eyes on a toy. Not just any toy. The Unicorn Magic Doll. The one her classmate, Kayla, always talked about. It was the biggest thing at school — everyone had one. It wasn’t just the shiny glitter on the unicorn or the way its horn sparkled — it was the fact that every kid in Marie’s class had one. Without it, she felt like she had nothing to talk about. No friends to hang out with. No reason to fit in.
Marie didn’t know anything about saving money for a toy. Her mom wasn’t exactly making things any easier. Life wasn’t good at the moment. Rent was due. Bills were tight. Marie’s mom, a single woman who worked long hours just to make sure they stayed in their cramped apartment, barely had time to stop and catch her breath, let alone handle every little thing her daughter needed.
“I want the Unicorn Magic Doll, Mom,” Marie would say, staring longingly at the toy in the store window. “It’s all the other kids have.”
Marie’s mom felt her frustration rising. “Marie, I hear you. But we can’t buy everything we want. I’ll teach you how to save, so you can get it yourself. Do you understand?”
It was tough. It wasn’t because Marie’s mom didn’t want to buy her the toy. She’d spend every last penny if it meant seeing that sweet smile on Marie’s face. But it just didn’t work like that.
Teaching Kids to Save: Kid Allowance Tips
Marie looked at her $5 a week allowanceA set amount of money given to a child by a parent or guardi... More. It wasn’t much. Just enough to buy a couple of candy bars or small treats at the corner store. She wanted the toy so badly, but with that little bit of money, the path to getting it seemed far away.
Her mom sat her down one evening. She didn’t have much of an “education talk” to give, but it was clear Marie was going to have to figure out how to make that $5 work for her. She had to come up with kid allowanceA set amount of money given to a child by a parent or guardi... More tips to get this toy.
“Marie, here’s how this is going to go,” her mom said, pulling out a sheet of paper. “You get $5 a week, but if we really want that Unicorn Magic Doll, you’ll have to save all of it — week after week. That’s the deal. But, if you spend it on small stuff every time, you’ll never have enough.”
Marie bit her lip. Could she do this? Could she save for a whole month and get what she wanted?
“So… how much longer?” Marie asked, frowning. “A month feels so long.”
Her mom didn’t sugarcoat it. “Yeah, it feels like a long time when you’re a kid, but you won’t be spending your money on candy or anything else for a while. You’re saving for something important.”
She could tell it was hard for Marie, but saving money wasn’t about rushing. It was about understanding that things wouldn’t always come quick. Patience wasn’t just a lesson for Marie, either — her mom had been trying to find any way to make extra money, like picking up extra shifts at her two jobs. But that wasn’t easy either.
Obstacles That Made Everything Harder
But then, things got worse.
A few days later, Marie came home upset. “Mom!” she said, dropping her backpack on the floor. “I lost my allowanceA set amount of money given to a child by a parent or guardi... More! I don’t know where I put it!”
Marie’s mom pinched the bridge of her nose, feeling the weight of the world on her shoulders. “This is not what we need right now, Marie!” she snapped. “You had it earlier! Where did you put it?”
Marie started to tear up, and her mom immediately regretted raising her voice. “I don’t know! I just lost it! I only need a little more money to get the toy!”
Marie’s mom sat down and let out a frustrated sigh. There was no money to give Marie to replace the allowanceA set amount of money given to a child by a parent or guardi... More she had lost. Every dollar counted. Still, she didn’t want to break Marie’s heart completely.
“Listen,” her mom said, taking a deep breath. “It happens. You’re going to have to try again next week. But that’s just how life is sometimes. We gotta work with what we have.”
But the problem didn’t stop there. The week after, it wasn’t a matter of Marie just losing the money. It was that Marie’s neighbor had come around, offering a “great deal” — a toy train that was selling for just $5.
“Mom, can I please get it? It’s just $5, and I really want it!” Marie begged.
Her mom clenched her fists. “Marie, remember the Unicorn Magic Doll? That’s the toy we’ve been saving for! If you buy that train, we’re starting over. And I can’t do that right now. You have to understand, we don’t have extra money to waste. When you save up, it means you have to say no to other things.”
Marie’s face fell. She wanted so much to have that toy, too, but she could understand her mom’s point.
“I’ll save my money next week,” Marie said softly, though it felt almost impossible.
Easy Money Lessons for Kids: Teaching Patience and Responsibility
Marie’s mom tried her best to teach her simple, straightforward rules about money. Teaching kids to budget wasn’t easy, but her mom knew that saving money for a toy didn’t just help Marie get the unicorn — it helped her learn that spending isn’t always instant.
“Look, here’s what you have to remember,” her mom explained, “When you get your $5 allowanceA set amount of money given to a child by a parent or guardi... More, set aside some money and leave the rest alone. Maybe give yourself a little bit for a small treat, but your goal right now is that unicorn. No more extra toys until we’ve got the cash for it.”
It wasn’t all smooth sailing, though. As the days went by, Marie sometimes got discouraged. Watching her friends get new toys while she stuck to the plan felt miserable. The months went on, and she still had to stay patient.
Some weeks, when her mom took her shopping for groceries, Marie would see the toy — still sitting there, so close yet so far out of reach. It was harder than it seemed.
One day, the family hit a new low. The car broke down, and instead of making progress with their savings, the extra cost of repairs drained the little bit of money they had put aside. Marie’s mom spent all day on the phone with car mechanics, trying to figure out what she could do.
Marie watched as her mom struggled. She could see the worry on her mom’s face and feel the tension in the air. They might not make it. But no matter how much Marie’s mom tried to push through, some things just weren’t in their control.
“I’ll never get my unicorn,” Marie muttered as she slumped down onto the couch, close to tears.
Her mom sat next to her and held her close. “Sweetie, we will get through this together. It’s tough. But don’t give up. Saving isn’t always easy. It’s not always fair. But we can try.”
Easy Money Lessons For Children: The Toy Finally Becomes Reality
As luck would have it, three weeks after everything seemed to fall apart, Marie’s mom found a little extra cash from an unexpected source — a refund check for an overpaid bill. It wasn’t a huge amount, but it was just enough to make a difference.
Now, Marie had the money she needed.
“Mom, I did it!” Marie jumped up, her face lighting up. “I can get it now!”
Her mom grinned, but even she couldn’t hide how proud she was. “You did it, Marie. You stuck to the plan. I’m so proud of you.”
Marie raced to the toy store. The Unicorn Magic Doll had finally dropped in price, just like her mom had always talked about. The final price was $18 — just enough for what Marie had saved.
Even better, when she walked into school the next week, she held the toy proudly for all the other kids to see. They asked her about it, and for once, Marie felt like she belonged. It wasn’t about the toy. It was about doing what she’d promised herself, about feeling like she could manage something all by herself.
And while her mom didn’t get a day off to relax, there was a deep, silent satisfaction knowing that she was teaching Marie more than how to save money — she was showing her how to overcome hardships.
Helping Your Child Learn How to Save
Sometimes, it feels impossible. Sometimes, life gets in the way, and even with all the work you put in, things still go wrong. But what matters is sticking to the plan, adjusting as you go, and teaching your kids simple lessons on how to help kids save money.
By giving them the tools to learn how to budget, save, and make money decisions — even when times are tough — you set them up for the future. Saving money for a toy isn’t just a lesson for Marie; it’s a lesson for all kids, and something parents everywhere should pass on, whether they have extra money or are scraping to get by.
As much as Marie wanted that toy, she learned that patience, persistence, and a bit of money discipline would take her farther than any instant gratification ever could.
When teaching kids how to help kids save money, remember that it doesn’t have to be complicated. Here are some key pointers to keep in mind to make learning about saving fun and effective:
- Help Kids Save Money By Starting Early: Teach the value of money as soon as your child starts receiving an allowanceA set amount of money given to a child by a parent or guardi... More. Even if it’s just a small amount, it’s a great way to start them on the path to financial literacy.
- Give Kids AllowanceA set amount of money given to a child by a parent or guardi... More Tips & Create Goals Together: Sit down with your child and set a realistic goal, like saving for that toy they really want. This helps them understand the concept of saving and gives them something to work toward.
- Give Them Responsibility: Let your child have control over their savings jar or piggy bank. It’s important that they understand that they are the ones in charge of their money.
- Teach Them the Difference Between Wants and Needs: Help your child learn the difference so they can make more informed decisions about how to spend or save their money.
- Be Patient and Encourage: Financial lessons can take time. Celebrate small wins and continue encouraging your child even if they don’t immediately grasp everything.
For more tips on how to help kids save money, check out this detailed guide on NerdWallet – Teaching Kids About Money
