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Show your children that saving their money in the primary grades is important, and then avoiding debt, by paying for cash as much as possible. Any opportunity when your child, Anne, age 4, gets money for a birthday or Christmas, is the ideal time to take her to the bank, show her how to make a deposit ticket and put in into her her saving account that pays 4% interest each year. This money will grow over the years, and your child can see how investing works. l. When Anne reaches grade 7, and get her first job as a baby sitter, or newspaper person, encourage her to save each week, and take her to the bank, and let her make a deposit into that account she opened at age 4, and show her how the interest grew and grew, into her own saving account. 2. When Anne wanted to buy a CD, new shoes, or take a trip to the mall shopping with her friends, this is an excellent opportunity to show Anne, that she can use some of that money in her savings account. How much does she want to spent? Why? Ask her where she expects to obtain that money? Anne may suggest that she take it out of her savings, and let her make the decision on it. If Anne feels strongly, that she wants it, permit her to make the withdrawal, and go out and make the purchase, or the trip. 3. By the time Anne reaches high school, she will have a after school job, and weekend job, to further increase her savings account. The savings account will come in handy when she gets ready to leave home for school, and get the clothes and computer essential necessary for the college program. The habit of saving regularly taught Anne how to pay as she went along the road of life and financial management. 4. While Anne is attending college, if she has any extra money saved, beyond what she needs for school, she can consider opening up a IRA(Individual Retirement Account) with a little as $200.00, and keep building this for the next 40 years, with proper, regular deposits into the IRA, Anne can build this into a six or seven figure nest egg. From a small savings account to learning how to invest with a IRA, Anne is on her way to success with money and learning about financial management for life.

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