Teaching children to save money starting when they are small is easy. Every child learns very quickly that money buys things they want. They already know the value of money, money concepts are taught in school, and the basic mathematics involved. Here a 6 simple tips to help you get them saving and investing.

1. 3 things to do with money. They can let it sit in their wallets and purses, spend it, or save it and watch it multiply. Drive to different parts of your city with your children and point out different living conditions. Some spend everything and never get ahead. Others let their money sit idle and it never increases. But the wealthy know how to spend what they need and then save and invest the rest.

2. Help your children set goals. Ask your children what they want when they grow up? Every child wants to be someone like a doctor or a fireman but what do they want? How do they want to live? Do they want to be poor or rich? Help them set some goals early and explain that proper saving and investing is a huge part of getting what they want.

3. Activate those goals. If you have a financial planner you can introduce your children. Explain to your adviser what you are doing and they will have the foresight to develop a future client. You can also help your children develop a financial plan. Make a game of it and show them how they can retire by the time they are 40…wouldn’t that be fun.

4. Be frugal. If you have not already, read the book “Millionaire Next Door.” This really opened my eyes to the world of the rich. People become rich through saving and investing wisely, not by earning a great deal of money. The typical millionaire in America has appreciated assets from years of careful investing and saving. Show your children how a frugal budget allows you to save more.

5. Open savings accounts early. Take your children to the bank as soon as they understand basic money principles. Open savings accounts in their names and go over the statements with them as they come.

6. Let your children make choices. As parents we want our children to have the best. Often times though our children are just as happy if not happier with simpler things. Examples of this are birthday parties and family get togethers. Consider taking some of these occasions and letting your child choice simpler activities that are less expensive. Show them how you can then take these savings and invest them.

Saving and investing is difficult for most of us. In America we save less than many par