Halloween is right around the corner and we all know what that means – kids young and old have two things on their minds: costumes and candy! This year consider keeping all of the candy you buy and use it to teach financial literacy tips to your family.
If you are wondering where to begin, first start a candy bank!
Second, give your kids candy currency. Explain to them how they can deposit some OR all of it into the candy bank to see how much their “investment” grows over time.
As they refrain from withdrawing the sweets, be sure to deposit more treats into their buckets and let your young ones learn about investment strategies the fun way. This is a great way to explain financial responsibility and prepare them for their own savings account.
Arvest offers a Cool Blue Savings account, designed specifically for those under the age of 18 to help your kids develop good savings and spending habits with an interest-bearing savings account. This account has no minimum balance required to maintain and no monthly service fee. Learn more at arvest.com/savings.
$50 minimum opening deposit required.