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It's never too early to start saving

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We all save for something special at some point, but getting into those habits early can really help your kids off to a great start. Teaching kids to save their pocket money and value it is a great way to start.

Giving kids pocket money early and regularly helps them develop good money skills and can help them develop great skills for later on.

Money Smart offers some great advice here

Giving your kids pocket money, particularly if they have earned it, provides them with a great sense of the value of money. Working with them to save towards a goal teaches them the value of it.

If you have young kids and want to make it real, pop into one of BDCU Alliance Bank’s centres and grab a Super Hero passbook. They can write down what they are saving for and set their savings goal. Each time they pop in the team will mark where they are up to and they can get a sense of real progress.

What do I need to get them started?

Firstly, get them a savings account. The more they save now the better it is for their future. You will be able, as their parent or guardian, to view their savings account online or via the app and help them keep track of their savings.

If you have got older kids or think you would benefit from some help in getting some ideas on planning for the future give the team a call or pop into any of our centres and they will put you in touch with our advice team.

This is general information only and should not be relied upon as financial product advice. You should seek independent advice before taking any product or service.

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