Money Management Skills Important for Kids

by Kelly Choate on September 28, 2011 at 6:45 am

It’s never too early to start saving money.

Parents can open savings accounts for their children and help them monitor deposits.  Senior vice president of Century National Bank Barbara Gibbs said it’s important to teach kids the value of a dollar.

"They’ll realize if they put some of that away for a future day, that’s a good habit that will be instilled with them for the rest of their life," said Gibbs.

Gibbs said parents can reinforce money management techniques without leaving the house.

"I just read an article about a family with young children," said Gibbs.  "They actually set up three jars – one for spending, one for saving and one for giving.  Every week they would give their children a $1 allowance, and they would put a percentage of that in each jar."

If you would like to open a free savings account for your child, you can stop by Century National Bank in downtown Zanesville.