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Saving Money

People save money to make large purchases. People save money to build the future they want. People save money to prepare for emergencies. Saving money is a skill. The more you practice, the better you get. What is something you want to save money for? How can you practice saving money?

Let’s look at two places where people save their money – piggy banks & savings accounts.

Piggy banks:

  • Located in your room
  • You don’t need help to start using one
  • Easy to access/easy to spend
  • Not safe from siblings

Savings accounts:

  • Located at a credit union
  • You need a parent to help you open one
  • Harder to access/harder to spend
  • Safer than a piggy bank
  • Pays you interest*

Interest is the money a credit union pays you for keeping your money
in a savings account.

Ideas to save:

  1. When you earn or receive money, put half of it in a savings account
    and the other half in a piggy bank
  2. Set a savings goal—draw or cut out a picture of what you are saving for and keep it where you will see it every day

Additional Resources:

It’s a Money Thing is a registered trademark of Currency Marketing

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