Saturday, September 22, 2012

Kid Bank Accounts S is for Savings


Last week in the S is for Savings series, I gave you resources on how to teach your little ones to save money. We learned that S isn't just for snake! S is also for saving, sharing and spending! As parents we have the power to teach this to our children and prepare them for their future in a fun and engaging way.

Today I am sharing one of the resources that I mentioned. This is the PNC  'S' is for Savings  website and account for kids. As a reminder to you:

  • This is a free site.
  • It has interactive online banking activities that uses basic money terms.
  • It is fun and inspired by Sesame Street.
  • You can set up a free account for children 18 and under with no service charge.
  • Interest on balances start at $1.00.
  • It only takes $25.00 to open an account.
  • Parents can add money to the account, easily. This can be done at a PNC band, online and even ATM's.
  • Kids can drop their money into jar to give them control - with your guidance-on how to spend, save and share. (This is a really cool feature)


I would love to share with you some screen shots of the site and my experience. Once you set up this easy to do account and log in you will see this screen:
Right away you and your child can see how much money is in the account and gives an update if there has been a deposit. At the bottom of the page, Cookie Monster has three jars for saving, sharing or spending. This is where you can help your child decide what to do with their money. Of course this can be changed at any time.
If you hover over each jar or click on it you can see your designated spend, share and save amounts. This is such a great feature and easy, teaching tool. This allows the kids to actually see what they are doing with their money. 
The Learning Center has information available to you to teach your kids about saving, spending, sharing, lending, needs, wants and more! You can read, listen, watch and try out all the activities together and even let your kids click. 

I found that this is a valuable and FREE resource for parents to teach kids about saving, sharing and spending. Check it out and see what you think! If you do, let me know. I'd really love to hear your thoughts on using these resources.

Disclosure: I received compensation from The PNC Financial Services Group to thank me for my participation in their promotion. My own tasty words and opinions are expressed here. 



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