Kids Savings Accounts | Why Smart Parents Set Them Up

High Return Savings Account — Sun, 23 Aug 2009 01:36:52 +0000

Smart parents know setting up kids savings accounts for their children will give them a lifelong advantage over children without them. Public education in the United States is woefully devoid of even the most rudimentary financial basics as writing checks, managing a checking account, credit cards, and home budgeting. While there certainly many cultures that don’t get this basic education – most of the cultures that don’t are third world countries. American Kids Who Lack Basic Financial Education Fall Behind Why we choose not to require our children to master the basics of managing their personal finances is beyond me, but that doesn’t mean we can’t teach our children what they need to know to function financially in our society. There is no reason it can’t start early with kids savings accounts, play time with games like Monopoly and Payday, and one on one conversations where children’s demands are turned into simple learning exercises. Making Learning about Savings Accounts Fun One of my favorite learning exercises takes the kids savings accounts and makes the interest earnings more tangible by converting them into gumdrops (or whatever your child’s favorite candy is). It doesn’t take a lot of fancy math to make this [...]

Kids Savings Accounts | Why Smart Parents Set Them Up is a post from: Online Savings Accounts - High Rate CD Accounts | Saving Money for Kids

Online Savings Accounts - High Rate CD Accounts | Saving Money for Kids » teaching kids about money

Kids Savings Accounts | Why Smart Parents Set Them Up