Home / Health Insurance / Articles / Child / Child Development / Learn About Savings And Current Accounts

Learn About Savings And Current Accounts

Team AckoFeb 8, 2024

You can start teaching your child the importance of money. As part of this, you should teach her how to save money and the tools that help in saving money like a bank account. The given activity will help her in understanding the difference between a savings bank account and a current account.

Contents

Requisites: Few currency notes (you can choose any denomination), 1 empty piggy bank, 1 empty plastic box with lid, 1 marker

Steps:

1. With the help of the marker, write ‘savings account’ on the piggy bank and ‘current account’ on the box.

2. Tell your child that if she puts money in the piggy bank then she cannot take it out before the month end. After the month ends, you will double the money and give it back to her.

3. In the plastic box, tell her that if she puts in money, then she is free to take out whenever she needs the money. However, she will not get extra money after the month ends.

In this way, she will learn the basics of savings and current account. As she grows, you can teach her further about bank operations.

Explore More Articles on Child Development

10 Things You Should Never Say To Your Child

How To Raise An Optimistic Child?

5 Signs That Prove You’re Too Demanding As A Parent

Raising Boys And Girls: Understanding the Differences in Their Development

Answering 'Where Do Babies Come From?' Question of Your Child

Quick Tips to Improve Your Child's Memory

Bribing Kids vs. Rewarding Kids: Everything You Should Know

5 Top Table Manners For Kids

10 Ways You Can Raise Happy Kids

Effects Of Force Feeding Your Child and Why You Should Not Be Doing It

7 Ways to Develop Your Child's Self-Confidence

5 Signs Your Child Has Fallen Into Bad Company

9 Effective Ways to Boost Your Child's Immunity

5 Signs Your Child is Hiding Something From You

Disclaimer: This content is for informational purposes only, based on industry experience and secondary sources. It is not a substitute for professional advice. Please consult a qualified expert for health or insurance-related decisions. Content is subject to change, refer to current policy wordings for specific ACKO details.

Recent

Articles

Netherlands Work Visa: All You Need to Know for Indian Applicants

TeamAcko Nov 13, 2024

Delhi Set to Roll Out WhatsApp-based System for Seamless Challan Payments

TeamAcko Nov 8, 2024

Seychelles Visa for Indians: A Guide

TeamAcko Oct 25, 2024

The UK Youth Mobility Visa: A Summary

TeamAcko Oct 25, 2024

Australian Golden Visa Scheme: All that You Wanted to Know

TeamAcko Oct 25, 2024