The poor are poor, the rich are rich

Chapter 89 2 Take the child to the bank to open an account

Chapter 192 Take the child to the bank to open an account

When children are six or seven years old, parents should encourage them to take the money in their piggy bank to the bank and save it.Before children deposit money in the bank, some concepts should be explained to them first, such as what is a bank, why should money be deposited in the bank, why deposits have interest, etc., let them slowly learn to open an account, deposit, and withdraw money Then let the child decide how much money he plans to deposit in the bank, whether it is all in the piggy bank, or just a part of it.

When arriving at the bank, parents can first introduce the bank's environment to their children, such as the bank's office hours, the ATM outside the door, etc., and then formally open the first savings account.Since the child is going to be a customer of the bank, an application form needs to be filled out, and parents can help with this.When the children receive the passbook from the bank, parents should explain to them clearly the details of each item in the passbook, the information of each deposit and withdrawal, and the balance of the last line.

When a child has a savings account, there is one more thing to explain to him, and that is the definition of interest.Parents can do some simulated calculations with their children to let him know that when the money is put in the bank, it will increase more and more. This is undoubtedly more motivating for the children, and they are willing to deposit more money into the savings account of the bank .

Usually, when parents go to the bank to handle business, they can also take their children with them, so that the children have more opportunities to get in touch with passbooks or bank cards. Although he still can't fully understand what's going on, most children still envy and yearn for it. Have a little card of your own like a grown-up and use it to shop independently.

There are two advantages to applying for a passbook or a bank card for children: one is to enable children to fully understand that money cannot be withdrawn from the bank casually, but must be earned, saved, and saved before being withdrawn from the bank money.The second is to let children know that saving can earn extra interest, and realize the truth that "money makes money".

After the child has his own independent account, the learning and training of the child's financial management skills really begins.Parents should pay close attention to their children's control over the money and guide them to consume rationally: "Consume when it's time to consume, and save when it's time to save."

Of course, children with separate accounts may also go to the other extreme, thinking that the money is mine, and I will be frugal, which means that they are holding their wallets tightly and are reluctant to spend a penny.Parents should not think that this is a good phenomenon. If this continues, children may become stingy. This is not the correct attitude towards financial management.So parents should tell their children: Savings is just a means of saving money, and you still have to buy things that should be bought, and you should not restrain yourself too much just to save money.

(End of this chapter)