How to teach kids to save for something

By SGWNI. Checked 1 November 2026.

Saving is easier when a child knows exactly what it’s for. These steps follow the US government’s Money as You Grow guidance for ages 6 to 12.

Four steps

1. Pick one thing they want. A real, specific goal works better than “saving up”.
2. Break it into small steps. Look up the price, then work out how much to set aside each payday. The allowance calculator gives the exact day they’ll get there.
3. Encourage a habit. Money as You Grow suggests saving 10 percent of the money your child receives.
4. Check in. Talk about how it’s going, and whether the goal still matters to them. It’s fine if it changes.

Should you top it up?

You can. Money as You Grow suggests considering a match, such as 25 cents for each dollar saved.

Keep track of it in Akoro

Akoro shows the exact day a savings goal will be reached from your child’s allowance. Savings goals are part of Akoro Pro.

Sources

• Consumer Financial Protection Bureau: Money as You Grow, ages 6 to 12