How Do You Teach Kids About Checking Accounts?
Teaching kids about checking accounts is a great opportunity to bring them into your world a little bit. ou can show them what it is like to pay bills and try to work with the money they have left after that, having to choose the best way to spend or save it. Here are some great tips on making the checking account experience a very real one for kids, so that when the time comes, they will have greater wisdom with their own checkbook. Create your pretend checks using the design from your own checks. Under no circumstances will you want to include valid account or routing numbers on the “teaching” checks. Distribute a set number of checks to each child and explain that if they want more, they will have to “order” them from you, and the money for the order will come from their checking account. You should also create deposit slips for them to use when they have “earned” money to put in the bank. Give them a job. The first thing they need is earned income, which is simple enough by paying
