Sunday, April 17, 2016

Teach Your Kids More Money Skills With A Spreadsheet Bank Account

Today’s fantastic family finance article is:

Spreadsheet Bank Account For Kids

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.

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