Teach Teens to Save: Banking Tips For A Financial Future

We know learning may look a little different these days, so we’ve put together a guide to help boost your teen’s knowledge of banking.

In this guide, you and your teen will find information on:

Working their way around a check – Yes, they still exist!
Setting up a financial future – Start sooner than later.
Life hacks on saving time and money – Who wouldn’t want that?

Get your teen thinking about their financial future, and download this free guide today!

For additional resources, check out these interactive courses on Starting Out, Financial Basics, and Paying for College.

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Best Savings Account For Kids Finding the best savings account for kids doesn’t have to be complicated. Savings accounts can foster good saving and spending habits, and your child will probably enjoy watching their savings grow. First Bank offers the best savings account for kids in North Carolina and South Carolina. First Bank makes saving easy with our MyFirst Savings account. With this account, your child (under 18 years of age) can save money and earn interest. MyFirst Savings includes: 2 free withdrawals per month* No minimum balance to earn interest Interest-earning account $10 minimum required to open account Free online and mobile banking* Free online bill pay Free eStatements or paper statements The best part? There is no monthly service charge for this account. So you won’t have to worry about your kids’ savings being cut into by costly fees. Best Savings Accounts for Any Age Lead by example with one of First Bank’s five other savings account options. We offer savings plans for adults that range from basic savings accounts to accounts that can help you save for anything—from college to retirement. They are: Everywhere Savings—a simple savings account with a competitive rate Money Market—offers higher rates and access to your funds Certificates of Deposit—enjoy a guaranteed return with a fixed rate and choice of terms IRAs—a long-term savings strategy with tax advantages Health Savings Accounts (HSAs)—a way to save for current and future healthcare expenses To learn more about First Bank’s savings accounts and why we offer the best savings accounts for kids, visit a branch near you. Teaching Your Kids to Save Children often learn their saving and spending habits from their parents, so teaching your children how to save money can be essential to their future. Children who grow up without knowing how to save money, budget, or pay bills often make poor financial decisions in the future. Follow these tips to teach your children the importance of saving money: Allow your child to earn money — try assigning your child age-appropriate chores then give him or her a weekly allowance when they are completed. Let your child spend money — allowing your children to purchase things they want with their own money will encourage them to earn money. Help your child save 4 min read

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Teach Teens to Save: Banking Tips For A Financial Future

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