It pays to teach children about money when they are young
It really does pay off to learn from an early age the importance of getting into the habit of saving. Going to the bank and depositing money in your savings account can be an exciting event for a young child. Especially in this digital age, the act of depositing the money physically helps children visualise and understand the process of saving.
Once your child starts school they may also be able to participate in School Banking. You can find out more about School Banking and the rewards your child can earn.
Tip: The Beanstalk's 'Money Maze' is a fun way for children to learn about saving and going to the bank. You can print out a copy here.
Things to know before you Can: This advice has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. Terms and conditions for transaction and savings accounts mentioned are available here (PDF 660KB). Please read our Financial Services Guide (PDF 60KB).