Why Your Child Should Have a Savings Account
A strong financial future begins with healthy money management habits. One way to teach your kids about saving is by opening a savings or checking account in their name. Here's why:
Discover the Basics
By depositing money into an account regularly, your child will learn the importance of setting money aside for the future.
Learn more about KeyPoint's Kids Savings and Student Checking Accounts.
With their own account, your child can discover how to control their spending and budget wisely. They'll also learn how to track balances, deposit money, and use a debit card.
Save for Short-Term Financial Goals
By setting aside money earned from an allowance, part-time job, or a gift, your child can practice saving for future purchases.
Prepare for the Future
Starting a savings account can also prepare your child for the future. As they age, their needs and expenses increase, and the more they practice responsible spending, the better off they'll be.
Build Responsibility and Independence
By managing their money and determining how to save and spend it, your child will learn valuable life skills that'll serve them well into adulthood.
To open a Kids Savings or a Kids Checking Account at KeyPoint, contact us or visit a branch.