Opening your kids bank accounts is a clever move to introduce them the value of saving money. Banks nowadays are offering deposit accounts for children where they could learn and enjoy the benefits of money management.

Savings Safari Bank Account

Savings Safari is a special program established by banks and credit unions that focuses on kids bank accounts. This program is open to children ages 0 to 13 and has a minimum initial deposit of $5 to $25. To make money-saving interesting to kids, banks create fun activities for them. Kids receive safari-oriented toys, colorful materials, piggy banks, savings coin books, bags and other stuff. In addition, they also get surprise birthday gifts like a card or a $5 voucher. Kids are also encourage to join games and contests that banks organized annually.

Benefits of Opening Your Kids a Savings Safari Account

Knowing the value of money-saving is not only what children benefits when you get them kids bank accounts. This also helps to educate them on how to manage their money. Savings Safari teaches children the basic of financing. They can watch and compute on how much their money grows based on the interest it gained. This kind of activity encourages kids to enhance their mathematical skills.