Today’s fantastic family finance article is:
It’s time to move beyond the piggy bank.
Your kid is ready to learn critical money concepts and skills like:
- How bank accounts work.
- The power of compound interest.
- How to track spending.
- The pain of costly debt.
- How to set and achieve financial goals.
- The reality of money as an abstract number — beyond just physical cash and coins.
But setting up bank accounts for young kids can be a real hassle. There might be overdraft fees and other hidden gotchas too. And traditional savings accounts don’t pay enough interest to be remotely interesting.
So, try a simple spreadsheet instead. Today’s article shows how to open up your own little family bank in Google Docs with a handy template.
Retire the piggy bank. Open a family bank in a spreadsheet. Take your kid’s financial IQ to the next level.
Get tomorrow’s tip here.