Get your kids in the habit of saving from a very young age by telling them to put 10% of their money away to save for a big ticket item they want. If you start when they earn their first dollar, they'll develop the mindset of saving. Let them pick what to save for (college probably holds no interest yet but an xbox might). As they near their goals, suggest that they save a little more than they need before making the purchase.

If your parents had gotten YOU in the habit of putting 10% away, how much would you have in savings now?

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