April 24, 2025 - National Teach Children to Save Day
- Olu Olu
- Apr 24
- 3 min read
💡 Financial Literacy Starts at Home
Every 4th Thursday in April, National Teach Children to Save Day reminds us of one simple truth: good money habits aren’t inherited — they’re taught. As a financial advisor, I’ve seen firsthand how early exposure to money principles gives children a lifelong advantage. In today’s fast-moving, spend-heavy world, equipping the next generation with financial literacy isn’t just smart parenting — it’s legacy building. Also considering the fact that Canada is a country of immigrants whereby most adult immigrants have to start afresh with both their careers and wealth building, it is very important to help our children to lay a strong financial foundation for their future. That way, they do not have to relive the hard life and struggles that some of parents already experienced or are still trying to cope with.
🏦 Start Small, But Start Early
If your child is still young, the first step is tangible learning. Give each child a clear piggy bank so they can watch their money physically grow. This simple visual cue is powerful for younger minds. You can add lessons by rewarding small chores with quarters or loonies — this builds an association between effort and earnings.
Once they’re old enough, consider opening a savings account. Show them how deposits, interest, and balances work. If they’re teens, introduce a basic checking account. Better yet, help them find odd jobs or after-school gigs — this not only boosts their savings but also builds independence and accountability.
🛍️ Teach by Experience — Not Just Talk
One of the most impactful lessons? Let them spend their own money.When your child asks for a new toy or trendy item, direct them to their savings.
Ask them questions like:
Is it worth the amount you’ve saved?
How long did it take you to earn that?
The simple act of handing over their own money creates a lasting emotional connection to the value of a dollar. Over time, they begin to weigh purchases more thoughtfully.
Also, don’t shy away from teaching them the difference between needs and wants. Break down daily decisions at the grocery store or during errands:
Needs: food, clothes, a roof over your head
Wants: fast food, designer shoes, the latest iPhone
Make budgeting a part of your everyday family conversation.
👨👩👧👦 Lead by Example
Your children are watching more than they’re listening. That’s why your own saving and spending habits matter. Set up automatic contributions to your RRSP or TFSA? Talk about it at dinner. Set a goal for a vacation or home renovation? Share the saving strategy openly.
Modeling responsible financial behavior is one of the most powerful lessons you can give your child.
🎉 Celebrate Teach Children to Save Day in 3 Easy Steps
Sit down for 30 minutes with your child to talk about money. Use coins, bills, or your bank app to make it real.
Start a “Piggy Bank” for them and set a small goal together — like movie night or a treat.
Share a savings story in the comments here or on social media with the hashtag #TeachChildrenToSaveDay to encourage others.
💬 Let's Build Financially Confident Kids — Together
Helping children understand money today builds adults who can thrive tomorrow. As your trusted financial advisor, I’d love to help you map out a strategy to weave financial education into your family’s journey — whether that means setting up education savings, introducing budgeting tools, or modeling strong saving habits.
Want help setting up your child’s first savings plan or family budgeting tools?
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