If you’ve ever walked down the toy aisle at Target with a 3 year old, then you know how difficult it can be to walk away empty-handed. These kids want everything, but they don’t fully understand the concept of buying stuff. So now I’m put in this vicious cycle of telling my daughter we can’t buy that Paw Patrol action figure set because it’s expensive, but also because frankly, I don’t want her to become a spoiled brat. haha. But I’m curious, is there a win-win option that I’m missing here? Maybe she can get her toy, and also learn a valuable lesson on saving money.

How do you get your kid to start saving money?
- Eyes on the Prize – I think one of the best motivational tools for saving is having a physical object to save for. For adults it may be a house or car, but for kids, I recommend a toy. This will teach your child to understand why they are saving in the first place.
- Small Beginnings – The beginning can be tough if your goals are a little too ambitious. I would hold off on saving for that super expensive Malibu Barbie dream house. Instead, have your child start small and save a toy that’s less than $5, like a mini doll or action figure.
- This Little Piggy went to the Bank – Nothing beats the timeless piggy bank when it comes to saving money. It’s the simplest solution for getting your child to save money. Anytime your kid finds a coin, gets an allowance, receives birthday money, they can dart straight to their piggy bank and make a deposit. My little secret is getting a coin bank that’s in the shape of your child’s favorite cartoon character. My daughter loves her PJ Masks Catboy coin bank.

Kids Save Hustle Challenge
You’re probably tired of dragging your child out of Target kicking & screaming because they didn’t get that Lego set they wanted. So I beg of you to empower your kids with a lifetime skill called saving. It’s easy to get started, here’s the plan:
- Have your kid pick a $5 toy to save up for
- Get your kid a piggy bank in the shape of a favorite cartoon character
- Print out a picture of the toy they want & tape it near their piggy bank
- Teach your child to put coins in their piggy bank
- Create an allowance plan. $0.25 cleaning toys, $0.15 for reading, etc.
- Keep track of their savings until they hit their $5 toy goal
- Lastly, go buy the toy together and set another goal!
If you found this article useful, please check out this article on saving money on food by eating PB&Js.