Teach the basics of saving
A savings account is a great tool to help your kid learn the value of saving money. By depositing money into the account on a regular basis and watching it grow, your child will learn the importance of setting money aside for the future.
Teach kids about money management
When your child has their own account, they begin learning to control their spending to a degree. This can lead to learning how to budget and spend responsibly. They'll also learn how to manage an account at a financial institution, including balance tracking and depositing money.
Prepare for the future
Starting a savings account at a young age can prepare your child for unexpected expenses in the future. As they age, their needs and expenses go up as well, and the more you help them prepare, the better off they'll be in the future.
Build responsibility and independence
By managing their own money and making decisions about how to save and spend it, your child will learn valuable life skills that will serve them well in adulthood.
To open a youth account for your child at HEFCU, call us at 800-624-3312 or click here to apply.
