Teach your child about the value of this money when they’re still young. Make some time to listen to them and correct them, because once a child develops an attitude without supervision it’s bound to go be out of your control. Be there to observe and simply tell them, “No, this is not how it’s done” or “Let’s do this”, because that’s how you’ll have made a difference in your child’s life. Their spending and saving habits are dictated by how they are raised, because as the saying goes, “old habits die hard.”
At Chase Bank, we can help you start the financial journey with your child through;
- The Pebble Account – http://bit.ly/1Ht9FVR. It is a savings account for children between the ages of 0-12 years, with competitive interest rates on the savings. Opening a savings account for your kids and teaching them how to save sets them up for future. You can teach them how to save by;
- Telling them what money is and what it can do.
- Illustrating to them the value of money.
- Encouraging them to put some money aside for saving.
- Educating them the purpose of saving.
- Guiding them and walk with them through this saving journey.Setting a saving goal with them. And within the goal, set small objectives on why you’re saving in the first place, so that they can see its benefit.
- Planning with them. For instance, when withdrawing money from their account – explain to them why you are withdrawing the money and how you can work towards restoring it.
- Let them feel a part of that journey and learn from it.
Want to start the financial journey with your child today? Fill in the form below and our team will be in touch with you shortly to guide you through the Application process.
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Chase Bank Kenya, Pebble Accounts, Savings, Youth Banking