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Open a Savings Account
SUBMITTED BY: Samuel Dearth
LAST UPDATED: December 23, 2005
As mentors, we reinforce good manners, emphasize education, have fun, and lend a supporting hand in any way we can to our Littles. But what do we teach them about money?
The financial values you teach your Little will stay with them the rest of their lives. A first step is to teach them how to save. Open a savings account for your Little Brother or Sister. Then, encourage them to put money aside from occasions like birthdays, and from their allowance. You should explain how that money grows when the bank adds interest.
My Little is 16 years old and recently started working at a Georgetown restaurant. We spent our Saturday morning activity time at the bank to open a savings account in his name. Bank of America allows a young boy or girl to open an account with an adult on the account.
If you have specific questions about this you should feel free to contact Jessica Sizemore at the Northern Virginia Bank of America branch just off of Little River Turnpike. She will be more than happy to get your Little started in the right direction.
Jessie Size Sizemore
Professional Teller
Bank of America
9500 Main St.
Fairfax, VA 22031
(703) 764-5265
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