Money Management for Kids It’s critical to teach your children
smart ways to handle money. Kids will benefit from learning good
money habits at a young age. Parents need to be good role models
because your children will learn from your spending and savings
habits. - Teach the value of dollars and coins. Show them what
each looks like and how much each is worth. - Show how to use
money to pay for things at a store. - Set up a Minor Savings
Account at Iowa State Bank. Kids will learn how to set up an
account, learn about deposits, withdrawals, account balances and
interest. Kids will get a passbook for their savings account so
they can watch as their account balance grows with each deposit.
They will also learn that keeping their money at a bank is safe.
Plus, kids get a free piggy bank when they open a new account. -
Give kids an allowance for doing extra chores. An allowance
helps children see the value of spending a little now and
putting some aside to spend later. If you provide your children
with an allowa