Schwab MoneyWise ®
Schwab MoneyWise®

Motivating Your Kids to Save

Create incentives to encourage teens to save.

Kids, and especially teenagers, may need a little extra incentive to make saving a habit. Here are some ideas to get them to save more—and more often.

  • Consider matching your child's savings, say 25 or 50 cents on the dollar. It helps their savings grow and introduces the idea of the company match in many 401(k) plans.
  • Help your kids set goals and write down a savings plan to meet them. Encourage them (especially teens) to use our savings calculator to project how long it could take to reach a specific objective. It can be both exciting and gratifying to watch firsthand how savings can accumulate toward a goal.
  • Set a good example. Remember, the best way for you to teach your kids is to be a good role model. Talk to them about your own goals and your progress in reaching them. If you’re making tradeoffs too, like making coffee at home instead of buying a latte, share this with your kids so they can understand that saving is an important lifelong endeavor.

Want more ideas? Here are hands-on activities for every age.


(1109-10800)

Investing involves risk, including possible loss of principal.

The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner, or investment manager.

The Charles Schwab Foundation is a 501(c)(3) nonprofit, private foundation that is not part of Charles Schwab & Co., Inc. or its parent company, The Charles Schwab Corporation.

Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.