Youth Saving Accounts

 

View the latest copy of the Rip Tides Newsletter

View the latest copy of the Sand Dollars Newsletter

Members age 13 through 17 are automatically enrolled in the Rip Tides Teen Club.

Members age 12 and under are automatically enrolled in the Sand Dollars Club.

Both Youth accounts receive a quarterly newsletter aimed at promoting financial awareness. Each issue contains entertaining and informative articles that assist our youth in beginning a healthy financial future.

Copies may also be obtained at any branch location.

• Benefits of Youth Savings Accounts:

1. Quarterly newsletter with your statement that is packed with financial information
2. All Youth accounts earn dividends, no matter what the account balance
3. Checking accounts available to 16 & 17 year old youths with joint owner
4. Your first 150 checks FREE with a checking account
5. Special contests and promotions for youths throughout the year

• Here are some helpful links to beginning your healthy financial future:

Mapping your Future - Info on planning a career, selecting a school, and paying for school

Practical Money Skills - Helpful tips on making spending decisions, spending plans, and earning money.

Money Choices - Info on financial basics, setting goals, and building your financial skills.

Young Adult Financial Checklist

Checks and Balances

Visit the Treasury Department website for kids, where you can learn about the US Treasury's savings program for Kids!

Thanks to Bethany from Alliance Charter Academy in Oregon, who came across our website while doing some reseach for a class project on money and financial planning, the following information is provided.

Are you as Smart as this Fifth Grader? Thanks Bethany for sharing this valuable information:

Four Ways to Rapidly Build Up Your Online Savings Account Balance

There are many ways that you can save money and rapidly build up your online savings account. Many people look towards the cost cutting side of the budgetary question when times get tight, but boosting your income can be a great way to raise your savings account balance. But many people struggle with ways to raise funds. Here are four great ways to boost your savings.

1. Sell Items You Don’t Use – Selling some items from around your home that you are not using any more can be a great way to boost your online savings account balance. Once you sell these items online, immediately transfer the money to a high yield online savings account . I like to sell items on eBay, Craigslist, or Half.com, and then leave the money I earn to grow in my online savings account. In a way, it is similar to out of sight and out of mind. I continue to deposit the money that I earn from selling items and just forget about it, allowing it to continue earning interest and growing.

2. Collect Pocket Change – Another way that I like to build up my savings account is to collect my pocket change. Every day I try and purchase items using only dollar bills, and at night I empty my pockets into a change jar. When the jar is full, I deposit all of my change into my bank account and then transfer the money to my online savings account where it can grow at a decent interest rate.

3. Buy Online, Save a Dollar – A trick that my wife loves to use when she is saving for a particular goal is to put side one dollar each time she buys something online. Your savings will continue to grow and you may just think twice about purchasing something that you really do not need after all.

4. Make Savings Automatic – If you have an automatic transfer set up to move money from your checking account to your online savings account every month, you are more likely to continue your savings habit. It becomes second nature after a while to pay yourself first with an automatic transfer. You do not even think about it after a while, and your savings can really begin to grow.

There are many ways that you can quickly build your online savings account balance. You simply have to be open to ideas, try new things, and often fool yourself into sticking to them. Once you make your saving ways a habit, you can quickly boost your account balance.