7 Ace Reasons to Start a Savings Account for Your Child ...

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Opening a savings account for your child is a great idea.

Interest rates may not be that good at this time, but getting into the habit of savings is a really good lesson for them to learn.

It's one part of teaching them to manage money in a responsible way.

Here are some great reasons to start a savings account for your child …

1. Good Habit

Opening a savings account for your child will start them off on a sensible attitude towards money.

They'll learn that it's better not to spend everything they 'earn.' If they put some or all of your money in their savings account, they can see the interest being added and the total growing every year.

Try to encourage them to leave it there, rather than spending it.

Compound Interest
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