Saving money is an essential habit for children to learn as early as possible, so they can evolve that into a long term habit until they grow up. Not only saving money at home with a piggy bank, children - especially students - should start saving their money in Banks. Before encouraging your children to start saving, let’s explore the different benefits of saving money from an early age.
Learn to Manage Finances on their Own
Having their own savings account encourages children to learn how to manage money on their own. With their own savings account, they are introduced to the responsibility of managing money that is given to them.
It’s Safer
Saving your money at the Bank is of course safer compared to saving at home with a piggy bank. The security system at the Bank is designed to avoid the risk of theft or burglary. In addition, saving at Banks will make kids less tempted to spend their money.
Get to Know Banks and their Products
Visiting the bank and saving money there since the early days can teach students on how the Bank system works and what it entails. They will get to know the various banking activities along with the process of saving and withdrawing money.
Encourage your children to start saving with iB Student Savings (Simpanan Pelajar iB) as a Syariah Saving, where they can experience flexibility and discretion in money transactions and bring them into the habit of saving money from an early age.
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