Everything is bigger on Jupiter. You can make your money grow, too! No, don't plant it in the ground and water it. There are different ways to save money and watch it grow. One way is to keep your money at a bank in a savings account instead of at home. A bank, like GCF Bank, will even pay you money just to hold it for you! The money they pay you is called interest. Every three months, the bank will deposit interest payments right into your account. The amount of interest you earn depends on how much money is in your account.
But it isn't any fun to have money and not use it. And buying things with your own money is a good reward for earning that money in the first place. If you manage your money wisely, you can develop a plan that will allow you to spend some money and save some at the same time.
When you earn money, get your allowance or someone gives you money as a gift, divide it evenly into three piles. Put the first pile into your bank account for savings.
Put the second pile somewhere safe at home, or ask your parents to
hold it for you. You can use this second pile to buy yourself
something special. You might need to add more to it before you have
enough for something that costs more. Be patient. Know how much that
special item will cost and soon you will be able to
buy it for yourself.
The third pile should be used to help someone less fortunate, or help with a special cause. If you love dogs, maybe your local animal shelter can use extra money for food. Or maybe you know someone who is sick and needs extra money to pay the doctor. There are a lot of people that need help from time to time. Helping others feels good!
Use this neat calculator to figure out how much you need to save every week before you can buy that something special!
The folks at this site want you to learn how to make your money grow.
Take this fun quiz to learn if you're a good money saver!