My son first savings account

"Thank you mommy for opening my first bank account"

Teaching your child the importance of saving money is so important for any child. My son is now 9 years old, and we both decided it's time to open an account. Before I decided on the bank he will use I called around inquiring on the service charge,account minimum required for open,and what would be the best account for a child his age. We decided on this bank who will not charge a service charge of $5.00 until he turns 18 years old. There is no minimum amount required to keep his account open. The minimum to open was only $50.00.

I asked him how will he make money to deposit into his account? His reply was well "I can sweep the floor of my daddy barbershop". And "I can do chores around the house".

My purpose for my son account is not only to learn the importance of saving but to also acknowledge that you must work hard to get what you want in life. Nothing comes easy.