Topics: Savings Account
If you have young kids, then you’ve probably experienced some feelings of anxiety over both the future of their finances and the future of their financial knowledge at least once or twice. Youth education is not usually especially focused on teaching kids about how financial systems work or teaching about handling and managing money in the future. This responsibility falls upon the parents, not schoolteachers, and with life seemingly becoming busier and busier, it’s always a benefit to have some tools that will help you better educate your child about money. That’s where a youth savings account comes in; after all, what better way to learn than through experience?
Finding the right balance when it comes to money can be difficult, especially when you don’t have a lot of knowledge on how to properly manage your finances. This has been particularly relevant for millennials, many of whom are burdened with big student loan payments, and have lived through both the burst of the dot com bubble and the recession in 2009.
When choosing our New Year's resolutions, a lot of us want to do better with money. Whether that's saving more, spending smarter, or exploring new investments - devoting more time to your finances is always a sensible resolution (at any time of year, really)
Put $52 aside the first week you start; $51 the second week; $50 the week after that and so on… It’s a lot of money at the beginning, but that weekly amount continues to lessen over time and at the end of the year you’ll have an extra $1,378.