Money is the main resource of society to access all kinds of services and products, so it is very important that the little ones learn what money means and the value it has. In addition to promoting other values such as saving and investing in the future. Having a fund that will help you cope with any future circumstance will allow you to have an alternative to a problem and the ability to react.
Look to the future, your children will need stability
While they are young they completely depend on both the mother and the father, they are the ones who make decisions about what they eat, how they dress or what they study. They also ensure that they obtain everything they need for their day to day. Thinking into account for the little ones can be an interesting initiative that not only helps the little ones in the future but is also a option to save in advance before going back to school.
Benefits of having a child savings account
Open one child savings account help to go gradually saving a certain amount per month so that going back to school is much easier. They can also be a long-term option to create a fund if they decide to go to college.
Going back to school is a tremendous effort for many parents, since they require a significant expense in a very short period of time. The cost can range from 200 to 500 euros. Assuming a great economic effort for the family. Therefore, it is very important that children and young people understand the effort that parents make. Having a children's savings account means committing to saving a certain amount every month, assuming a great relief when you return to school.
Having an account for the little ones is a way of teach the value of saving and to show that everything involves acquiring school supplies or whatever they need. Educate so they know the value of money.
Usually these types of accounts have great advantages for adults since, unlike other accounts, they have very good conditions such as: promotions, gifts and even the absence of commissions or interests. Thus, the highest profitability is obtained from this type of accounts and allows real savings in which nothing remains, a continuous addition. In addition, the money contributed will always be available easily, there is no minimum income nor there is a minimum of expenses, which makes the children's savings account a very useful investment both in the short and long term. Over time, the child account will become a youth account. Although you will not be able to have a card until you are 18 years old, some banks allow the use of one, as long as the tutor controls the movements.
Teach the value of money It is a very important step for the child to become aware of the effort required to achieve it and how important it is.