#109: Why open kids savings accounts?

Reasons why you may want your child to have a savings account:

Teach them about saving money from income they earn, aka, allowances, chores, part-time jobs, etc.
Teach them how banking works (deposit checks, take cash out ATM machine, check balances online, etc.)
Teach them the basics of how money works. How much interest they can earn, etc.
Set specific goals for savings: buy a video game, a new electronic device etc.

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