saving your money with brother bear
Saving money is important. Many children start saving at home in a piggy bank. But when your piggy bank gets full or you receive larger amounts of money as gifts, it's time to start thinking about keeping it in a bank. A bank is the safest place to store your money.
To save your money in a bank, you need to open an account like the Univest Bear Country Savings Account. When you visit the bank for the first time, the staff can tell you about the office, show you the vault - where the money is stored - and introduce you to the tellers. These are the people who will help you when you come into the bank. When you and your parent or guardian open your first account, you will be assigned an account number and be able to put money in or take it out as needed. Putting money in the bank is called making a deposit. Taking money out is known as a withdraw. You can only withdraw money if it is currently in your account. Monthly statements are issued to customers by banks to help individuals manage their finances.
Banks also reward customers for keeping their money safe in a bank. This is known as interest. The more money you keep in your account and the longer you keep it there, the more interest you'll earn. Brother Bear thinks this is one of the best reasons to keep your money in the bank. He tries to make deposits throughout the year as he earns his allowance, receives birthday money and holiday money.
Let's start with the basics:
- Understanding Money
- Where Does Money Come From?
- Saving Your Money
- Newsletters