This is a great way to motivate a child to put their money away. The biggest step is actually putting the money into the savings instead of spending it. you can hurdle that by promising to match their cash, or by adding a certain percentage. Older kids will understand right away that this is a good deal. younger kids will be given an opportunity to hear about the principles of investing or of compound interest for the first time. by teaching your kids at an early age, you'll be equipping them with lessons they can use their whole lives, these steps can lead to habits that they'll be thankful to have when they're older.