Prepared by U.S. News and World Report.
Use these methods to get your child saving now as well as in the future.
With 65 percent of Americans lacking substantial savings and 29 percent of Americans having nothing at all saved, it’s clear that we need to be doing better financially, not only to increase our own savings rate but to teach our kids to not follow in the majority’s footsteps of putting saving money on the back burner.
Today’s teens are only five or fewer years away from becoming independent adults, whether that means getting a job or heading off to college. We’ll be doing our teens a big favor if we start teaching them to be savers now, as opposed to letting them flounder and figure out the tough lessons of the importance of savings on their own.
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