Q. When is a perfect time for your child’s first account?
A. As children get older, they become more interested in their allowance – they might even start a lemonade stand with friends or some other small business in order to save up for a new toy or fun experience. In turn, summer marks the perfect time to establish your child’s first account. It is never too early to start teaching your child about financial responsibility. Your local bank is a great place to introduce the importance of managing money to your future saver. No matter their age, you can establish a minor savings account for your child and provide a wonderful foundation for financial literacy.
Daniel Cahill, Vice President | North Dallas Bank and Trust Co. | Member FDIC | www.ndbt.com