Helping children save money

This post was underwritten by BMO Harris Bank, which offers a matching $25 on a new savings account opened for your child through their Helpful Steps for Parents program. Learn more at bmoharris.com/parents.

You probably know this already, but I have never had good money habits. I spend more than I make, and I'm terrible with saving money for a rainy day. Despite my bad money habits, as a mom of two little boys, I try to teach my children about fiscal responsibility.

Lucky for me, my six year old is a mini Alex P. Keaton.

He loves saving money, collects coins, and asked for a gold bar for his birthday last year. (Which he received, thanks to generous grandparents.) He has four piggy banks in his room: one for spending, one for saving, one sharing, and one for schooling. He loves saving up his money and when we give him money, he decides where to put it.

He's now saved up enough to buy his plane ticket for our annual winter vacation to south Florida! Although this thrills me to no end, I don't think I'm going to take his hard-earned money. He is on the right track with saving, and he's actually teaching me a thing or two! For his birthday last year, he received a little ATM machine for his room - it's amazing, it works, and it has helped encourage him to put away his money, too.

We love to teach our children abou the importance of saving. When we see our boys working hard to save, or when we see that they're keeping rather spending their money, we like to match the amount they have saved. Although I don't often lead by example when it comes to money and saving money, I do try very hard to teach my children how to save, and why it is important to save. It's great to see their enthusiasm when it comes to money - especially saving it!

I also love to see my children's enthusiasm when I take them to the bank to deposit their money. It makes them very proud, teaches them about being responsible, and makes me feel happy as a parent. Rather than my children thinking they're "entitled" to getting everything they want, just like that, I like knowng that they're using money they've saved to get things they want when we go shopping. If they want something, generally speaking, they'll pay for it themselves with their money - money they've saved.

I may not be the best when it comes to saving money myself, but I'm learning, slowly. My children teach me every day about the importance to saving for a rainy day, and for the future. It really is never too early to teach your children this important life lesson.

I was selected for this sponsorship by the Clever Girls Collective. To learn more about BMO Harris Bank, visit their website http://bmoharris.com/parents/.