I think it’s safe to say I’ve honed my finance skills in the last decade-and-a-half. Now I have little ones of my own and I think about how I’ll introduce them to money-management. Sure, they already get the coupon-concept, but what about the rest? One option is an ING Kids Savings Accont—a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. This account has no fees, no minimums, and the money is FDIC-insured. As of January 2012, this account has a 0.80% variable Annual Percentage—your kids will love seeing their money grow!
Here’s what kids can do with their account:
- Check their balance
- Change their personal info
- Change their PIN
- Change their account nickname
- Create a “personalized” Saver ID
- Download their account history, tax forms, and eStatements
Here’s what adults can do with their kid’s account:
- Everything their kids can do
- Sign in to the account with their own ID and PIN to transfer money, set up an Automatic Savings Plan (perfect for paying allowance), and manage account details
- Close the account
Here’s how to open an ING Kids Savings Account:
- Click Here to get started.
- Click on the orange “Open Now” button.
- Enter your personal information, agree to the Terms and Conditions, make an electronic deposit from your current checking account, review your information and then click on the “Submit” button. You can open and fund your Kids Saving Account in less than 5 minutes—it’s that easy!
By the way, does anyone want a “vintage” Kate Spade purse—I’m listing mine on eBay. I kid, I kid . . . I haven’t seen that bag in over a decade. Live and Learn. Live and Learn.