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Here are some tips on teaching your kids to be savvy about how they earn, spend and save their money.

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Hey kids, get busy saving!

It’s never too early to start saving, whether you want to save for something special (like that new bike) or simply for a rainy day! Buzz Bee has some great tips to get you started …

  • Get a piggy bank - free when you open a Bank of us Youth Advantage Account.
  • Set a savings goal – are you saving for something special? Set a target.
  • Earn pocket money - ask mum and dad what you can do to earn pocket money at home.
  • Open a Bank of us Youth Advantage Account – once your piggy bank is full, it’s the perfect time to deposit your savings at Bank of us.
  • Watch your savings grow! 

Buzz Bee’s favourite chores: Making his bed, taking the rubbish bins out, stacking the dishwasher, washing the car and packing up his toys.

It's time to teach your kids about saving!

  • Encouraging kids to save pocket money and put it in their own Bank of us account for a special purchase. If your children get pocket money every week, putting some aside every week into an account and giving them some is a good way to teach them saving habits.
  • Using a pocket money and budgeting system at home to teach kids about money in the real world. 
  • Making pocket money dependent on chores, e.g. washing dishes is worth $?, feeding the dog is worth $? Draw up a chart and ask them to tick off the chores that they have done in a week.
  • Teach early savings habits by matching dollar-for-dollar what a child chooses to save. Spend time explaining about interest accumulation and show them their balance online every month so they can watch their savings grow.
  • Ask them to draw a picture or find a picture in a magazine of what they are saving for. Keep that picture on display somewhere, like on the fridge so that they can be reminded of why they are saving.
  • Help your children to understand the difference between 'needs', 'wants' and 'wishes'. Start by helping them decide what's most important to them.

We are ready to help. Call us for a chat today!