20 Jul

4 Simple Steps to Saving

Learning how to do something new can take time. And it’s not always easy. Remember learning how to ride a two-wheel bicycle? Or how to play your favorite video game? Saving money is no different. It takes time, effort and even a few tricks.
Like these:

  1. Make a system. Putting all your money into one piggy bank can be boring. So try using four! Label one “Spending” for money to be used whenever you need it. Label one “Saving” for money to be used on something later, like a new toy. Label one “Growing” for money you’ll use much later. Like a car when you’re ready to drive! And label the last one “Giving.” You can spend this money on other people.
  2. Think about how you’ll use it. Maybe you want to buy your grandparents a special present on their wedding anniversary. Great! Decorate your Giving bank with a photo of your grandparents to help you remember why you’re saving. Place stickers and pictures on all of your banks to remind you of your goals.
  3. Save often. When you get money, don’t spend it right away. Divide it up between your banks instead. Then spend money only from your Spending bank. This will help you move closer to your saving goals.
  4. Spend wisely. You can only spend your money once. So make sure you’re using it for something you really want. Take time to think about each purchase before you make it. And ask your mom or dad to help you find the best price.

Once your Saving and Growing banks get full, bring your money to Navigator. Our savings accounts help keep your money growing safely.