Savings accounts for kids

Wednesday October 15, 2008

With the introduction of the Federal Government's Economic Security Strategy yesterday, many families will be receiving a one off payment come December 8. With all this extra money, it might be a good idea to put the money into savings accounts.

Many children will be receiving a one off payment of $1000 so you might like to open a bank account for kids.
The money set aside for first home buyers will end on 30 June 2009. If you want to benefit from this scheme, a high yield saving account will help you earn more money with interest.

While the temptation to spend your bonus money might be strong, you might be better off in the long run by opening a bank account to save the money for a rainy day. Unless you have pressing bills, saving your money in a savings account will probably help you out more.

Open a bank account today and spend your money wisely.

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