Say No to Piggy Banks and Yes to Children's Bank Accounts
Opening a bank account with your children is a more effective way to teach financial literacy
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/15/12 -- Camp is over, fall activities don't start for another month, and your children are getting bored. Rather than spending money trying to entertain them, why not use this time as an opportunity to teach your children how to SAVE money? , Canada's independent rate comparison site, suggests turning money management into a fun field trip by heading to the bank to introduce your child to his or her first
"There has been a lot of talk about the fact that children are not being taught Financial Literacy in schools, but in my opinion, learning about saving, spending, and the value of a dollar is something that should really be part of a child's education - even before they enter school," said Kelvin Mangaroo, President of RateSupermarket.ca. "As a new parent myself, I am very motivated to teach my daughter about money from very early on. But I'll probably wait until she's eating solids first."
Research shows that if children are exposed to money matters early in life they will be better equipped to handle their finances as they get older. One great way to start this learning cycle is by opening a bank account in your child's name. Many banks and credit unions offer special just for children, to help get them started on the road to financial security. Managing these accounts teach children valuable lessons in understanding fees, assessing a product for its features, and responsible debit card use.
RateSupermarket.ca offers comparisons on a myriad of different bank accounts, including specifically geared for children. Doing your research along with your child is a great first step in the learning process, and is a fun and educational way to spend a day before school starts.
Opening a children's bank account is just one step in the journey to financial literacy. Rubina Ahmed-Haq, columnist for , suggests these additional great tips for raising a spend-savvy child:
About RateSupermarket.ca ()
is the largest impartial rate comparison service for personal finance products in Canada. Founded in May of 2008, their easy-to-use comparison engine provides much needed transparency to the Canadian financial market and allows visitors to quickly find the , , , and .
Contacts:
Pointman Public Relations
Patrick McCaully
416-855-9427
Pointman Public Relations
Samantha Goldsilver
647-668-8140
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Datum: 15.08.2012 - 15:36 Uhr
Sprache: Deutsch
News-ID 174996
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