Helping Kids (and Teens) Understand the Power of Saving

It’s never too early—or too late—to teach kids the value of saving money. Whether they’re tucking away spare change in a piggy bank or setting a goal for their first car, helping children and teens understand how saving works builds essential habits for the future.

Start with a Simple Goal

Children get excited when they can see progress. Encourage them to pick something they want to save for—like a new game, art supplies, or a fun outing. For teens, the goals might be bigger: saving for a concert ticket, a summer trip, or even a first car. When there’s a clear purpose, saving feels like an empowering choice rather than a chore.

Use Visual Tools

For younger kids, watching money grow is part of the fun. Try using a clear jar or a chart to track their savings. With every deposit, they’ll see their efforts adding up, which reinforces the value of patience and persistence.
Teens can take it a step further by using budgeting apps or opening a student savings account. These tools give them a real-world sense of responsibility and a glimpse into how adults manage their finances.

Explain “Needs” vs. “Wants”

Saving is a great opportunity to talk about priorities. Help younger kids understand the difference between spending on things they need (like school supplies) and saving for things they want (like a special treat).
For teens, this conversation becomes even more meaningful. Discuss trade-offs like saving for future goals versus spending on daily splurges. These moments teach them how to balance enjoyment today with preparation for tomorrow.

Celebrate Milestones

When your child reaches a savings goal, celebrate it! Recognizing their effort builds confidence and makes them more likely to set—and achieve—future goals. For teens, consider adding incentives like matching part of their savings or giving them more responsibility over larger purchases.

Teach the Bigger Picture

As kids grow, help them connect saving to larger life goals. Explain how saving money can reduce stress, create freedom, and open doors to exciting opportunities down the road. For teens especially, understanding concepts like emergency funds and long-term saving can be empowering steps toward adulthood. 

Consider a Savings Account

Encourage your child to save the money they earn. C&N’s youth clubs allow kids and teens to start putting money away at as early age:

Ju$t for Kid$ Club – For children ages 13 and under, Ju$t for Kid$ club participants will also receive birthday cards, access to our rewards program, a semi-annual newsletter and much more.

Teen $teps Program -  Designed for teenagers 14 and over, our Teen $steps Program is a great way to get teens involved in saving their own money. With a parent or guardian’s permission, teenagers open a C&N Everyday Checking Account. They’ll be given real-life scenarios in a fun, interactive Banzai® Teen game, gaining more access to their account as they build real-world skills.  

By teaching your kids and teens the power of saving, you’re giving them a gift that will last a lifetime. Start small, stay consistent, and celebrate their progress—you’ll be surprised how quickly good habits can grow.

If you’d like to speak with a C&N expert, please contact us to set up an appointment or visit us at your nearest C&N office, and we’ll partner with you to get your child on the path to financial responsibility.