A SAVVY mum has started training her toddler to be good with cash – and some of her techniques might surprise you.
Money blogger Charlotte Burns from Swansea shared her latest top tip for savvy saving.
Charlotte BurnsMoney blogger Charlotte Burns from Swansea shares her latest tip[/caption]
She told The Sun she planned to use a “receipt strategy” to teach her daughter about sensible spending.
She keeps all receipts to teach her kids more about money.
Charlotte said: “I’ll be implementing the ‘receipt strategy’ early to get them to understand that the things you buy, cost money.
“Every time you buy something, you let them see you pay for it with card or cash, and you then give them the receipt to look at afterwards – maybe talk it through.”
She believes making smart financial decisions even from a young age could have a huge impact.
She’s not the first to suggest showing children receipts to teach them how money works.
Showing your children how to check receipts can help them develop positive habits from a young age, Editors Beauty reported.
The author has racked up a whopping 25, 200 Twitter followers who keep up-to-date with her nifty ways to save money.
The money blogger explained: “If you do it consistently, they’ll understand how money works at four/five years old. That’s a proper head start.”
She’s got plenty of other tips and tricks for training toddlers how to save and spend wisely.
Charlotte, who also runs money blog lottyearns, explained: “It’s all about the budget. It may seem boring and laborious, but unless you have a plan, it’s next to impossible to save money.
“What do you want and how much does it cost? What’s coming in and what’s going out? How are you going to make that all work?!”
It’s not the first time the savvy mum has shared advice for teaching kids how to handle their money.
Charlotte revealed she will be taxing her toddler’s pocket money.
She took to her blog in the Times to explain her latest decision.
She wrote: “The earlier you introduce your child to shopping, budgeting and saving, the better they will be with money as adults (in theory, anyway).
“Now that I have a toddler – Tilly, who is just beginning to understand the world – I have come up with a big plan for her financial education and it starts with pocket money.”
Charlotte explained her toddler could end up with £1million in her pension by the time she’s 60 as a result of her methods.
It comes as the cost of living crisis continues, and many parents are looking for ways to save cash.
And Charlotte’s not the only parent to make decisions to plan for her child’s financial future.
One woman took to TikTok to share the ‘best’ pocket money system – and claims her dad’s monthly budget was the key to making her so good with money.
There’s also some handy money-saving tips mums have shared.
These range from buying in bulk to buying a second-hand car instead of a shiny new one.