Earning Interest on a Kid’s Savings Account

If your child’s piggy bank is overflowing or you want them to start earning interest on their savings, here’s a simple thing to do: open an interest bearing savings account with them.

Our local credit union, BECU, offers a youth savings account (“Early Savers Account“) with premium rate on their first $500 in deposits, and the standard posted rate thereafter. This means our eight year old is earning 6.17% on his savings (up to $500, then 0.17% after $500).

In addition to helping him save, the bank (and not just the bank of mom and dad) is paying him interest and it helps teach important money lessons. Continue reading

Carrots and Saving Money - Simple Money Lessons for Kids

A Simple Story About Carrots and the Power of Saving Money

Here’s a simple story about gardening, harvesting carrots, and the power of saving. It is a wonderful reminder that kids listen, watch our examples, and can understand financial concepts if we take the time to teach them. Enjoy! Continue reading

How to Teach Kids About Money – Ideas for Every Age

Teaching our kids about money and finances is arguably one of the most important things we do as parents. And yet, most kids are not learning financial literacy in school. It’s up to us to give our kids a solid financial education to help them succeed as adults.
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How to Raise Smart Savers (in a World of Spenders)

As parents, we want the best for our children. We want them to be healthy and educated. We want them to find a passion, be happy, and succeed. And if you’re a follower of Raising Savers, it’s likely you want them to start saving early.

In a highly consumerized world this is tough. From an early age our kids are exposed to media and peer pressure to spend, spend, spend. So, how do you raise kids who are financially literate and savvy savers?

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