The Habit of Saving

When you get money from a birthday or for doing chores, you have two choices: you can spend it or save it. Saving means keeping your money in a safe place so you can use it in the future. Think of it like a squirrel hiding acorns! The squirrel doesn't eat all the acorns today; it saves some so it has food when it gets cold. When we save, we are being patient. We are choosing to wait so we can buy something even better later on.

To be a great saver, you need a safe place to keep your money so it doesn't get lost or accidentally spent. A piggy bank is a great place for beginners to keep coins and dollar bills at home. For larger amounts of money, adults use a bank account. A bank is a very safe building where people keep money. Banks are like 'money hotels'—the money stays there until you are ready to 'check it out' and use it for something important.

Saving is most exciting when you have a goal. A goal is something you want to buy that costs a lot of money. If you save a little bit of money every single week, those small amounts add up to a big amount! This is called accumulation. For example, if you save $1 every week, after 5 weeks you will have$5. It takes time, but watching your money grow makes you feel proud and responsible.