Start Saving for CollegeMakes a Great Gift

Helping Your Kids Save - 2.0

As a parent of three, I have become woefully aware of how uncool most of my ideas are. The idea of saving money for example. My only real memory of saving was using my childhood piggybank – way back in the olden days. At some point my parents took me to the local bank to open an account. Maybe when I got my first job in high school and actually had some real money coming in.

But today, with online and mobile banking – will our kids even have a need to step foot inside a branch? And how lame is giving a piggybank to my self-proclaimed "tween" daughter? Luckily, there are some cool tools out there to help kids save using all this new technology they have become so accustomed to – www.PiggyBanc.com for example. Just as the name implies, it is a virtual form of our old childhood favorite. But instead of just being a place where we can save money individually– this tool allows savers to create their own social savings networks and link them to an insured deposit account at any number of participating credit unions.

For those non "members" out there, credit unions are basically just like banks except for one pretty important difference – they are owned by the people who keep their money there. No stockholders trying to squeeze every last nickel and dime of profit out of your accounts – just regular people like you and me benefiting from fair financial services provided by a cooperative, not for profit organization. Piggybanc.com lets you tap into this unique network of credit unions across the country and invite grandparents, aunts, uncles, and close friends (regardless of where they have their bank accounts) to join your kid’s network and help their savings account grow.

So next time you are feeling uncool, sign your kid up as a PiggyBanc saver (it’s free) and see if you can redeem yourself a little, while still performing your parental duties.

 

The First Step in a Lifetime of Savings