The best way to get kids saving

Last updated 14:00 20/03/2014

BIG SPENDERS: The majority of those surveyed said their kids didn't know how to manage their money.

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This competition has now closed. Congratulations to our winner, Anita Stokes.

About a third of 5 to 15-year-olds earn $2 to $5 pocket money a week, while 40 per cent earn between $6 and $10, according to a new bank survey. For those over 15, a third earn $6 to $10 a week, and 36 per cent earn $11 to $20.

But despite the best efforts of some parents, the research by the Co-opertive bank shows the money message is not getting through to everyone.

More than three-quarters of those surveyed said their children were either clueless about money, or could be better.

Share your favourite ideas for getting kids to save money. If yours is the best, you could win, from the Co-operative Bank, an iPad mini and a $500 credit for a new or existing Dollars and Sense or Dosh savings account that you nominate.

(Submissions must be received before 12 noon on Monday March 31. Employees of Fairfax Media and of the Co-operative bank are not eligible to enter. The top 5 entries will be chosen by Stuff and sent to the bank for a winner to be selected.)

Click the green button to get started. 

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