I learned to save money at an early age because my parents believed it was important to get me started right away. I’ve learned a lot about money – what it is, how it is used, how to make it and how to save. I’m going to share this with you, so you can start saving for the future (like spending money for vacation) or for big items you can’t afford right now (like a dollhouse or rollerblades).

With summer around the corner it is a perfect time to think about what you want to do during July and August. Are you going on a vacation with your family? Do you want to camp in the backyard with your friends? Or read a book a week? Summer is a great time to accomplish goals, including saving for things you really want. Just like I did in Bill and the Astronaut, you should pick something you want and try to save for it all summer. Feel free to use ideas from the book! You can also use this savings track sheet to work out the details of your savings plan and help you reach your goal.

Here are some tips to help you save:

1. Piggy banks are a great way to help you save your pennies, nickels, dimes, quarters, loonies and toonies. When your piggy bank is full, bring it into the branch so you can deposit the money into your savings account, and then start over again.
2. Putting your money into your savings account means your money is safe. This way you can’t lose it, and no one else but you can use it.
3. Ask Mom and Dad if there is anything you can do to earn some money around the house, such as washing the car, raking the leaves or doing the dishes.
4. Do you have any toys that you don’t play with anymore? Ask Mom and Dad if you can have a garage sale so you can sell your toys for other kids to enjoy.
5. Find a picture of something you really want and find out how much it costs. Then save your money towards buying the item. In Bill and the Astronaut, I put a picture up of the amusement park on my wall to remind me of what I really wanted. Whenever I thought about spending my money on something else, I just looked at the picture and remembered I wanted to meet Eric McLeod the Astronaut more.
6. Set some savings goals that are realistic.  Write down a list of things that you would like to save for, and then work out a plan with a parent or a Libro Coach. Use the tracking sheet.
7. Is there something that you really want, like a new bike or doll? If you put your money into your savings account instead of spending it, you can save up to buy it one day.
8. Do you get allowance? If you save a portion of your allowance every week, it will add up quickly. For example, if you get $5 every week and save $3 of it, you will have $12 by the end of the month. By the end of the year, you will have $156! Think of what you can buy with that money.
9. Did you know that if you put your money into your savings account that it will make more money? That means that we pay you money for letting us hold on to it for a little while. It is called interest.

Do you have a savings tip that you would like to share? Tell me using the Idea Generator and I’ll add it to this page!