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We learn much with every passing year. Some of these lessons are learnt in Chemistry class. Others are studied only when the exams arrive. Yet other lessons are learnt outside our classrooms. We learn to be less hasty and more thoughtful. We learn to give importance where it is due. We learn the importance of being earnest. We understand the need to be honest and to be a person of integrity. These are some of the common lessons. Among these is the one where we learn about the value of money. Remember our enthusiasm in finding and placing coins in piggy banks of various shapes and sizes? Birthday gifts from loving uncles and aunts vanished instantly into the coin boxes, as did the earnings from different errands that we ran. Coins and notes that we stumbled upon on the way also found their way into the piggy banks. After days and days, only when the piggy bank got heavy, did we realize that it must now be smashed to pieces. Then we spent hours thinking of the things that we would be spending the money on. We wanted to get the most out of it. I think that is how a lot of us learnt about the value of money. If you are instructing your little boy/girl about the importance of money, and he is a little big for piggy banks, get him a savings account. It is a surefire way of ensuring that your kid has an appreciation of the value of money. Put some money in the savings account, give your baby a passbook, and watch him start planning his finances in the early years. This will work in a much better way than yelling at your child for having no idea of the value of your money. He will have no idea of the same if you do not give him a fixed budget. If you continue to complain, and simultaneously indulge him with the most expensive gifts, this is a lesson that your child shall never comprehend. How do you find a good enough savings account for your child? Now, that should not be too difficult. Banks everywhere are keen to get younger and younger customers. “Get them young”, as they say. This is the age group that the banking sector is hoping to impress so as to build brand loyalty. Do some research to find some good savings account plans for children and pick out the one that suits you perfectly. Not only will a savings account teach your child the value of money, but it might even trigger in him the desire to become a finance person someday. Get high interest saving accounts. Also get info on current accounts and the best bank accounts.
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