Libby Farbotko, 9, chooses a more modern approach with an electronic money box.
Libby Farbotko, 9, chooses a more modern approach with an electronic money box. Chrissy Harris

Never too young to start saving

EVERY penny counts when it comes to saving.

Nine-year-old Libby Farbotko loves to save her money and after recently celebrating her birthday she is saving for that something special.

“I save all my money from birthdays and Christmas,” Libby said.

“I really like saving and am hoping to get a DS or a teddy when I have enough money,” she said.

Many banks around the region currently offer great rates and reward children wanting to make a start on their saving career.

As times change saving money is not just about filling the piggy bank but keeping kids excited about saving their cash.

Suncorp Bank’s General Manager David Marshall is encouraging parents to teach their kids about money and said internet banking is a great way to start.

“Internet banking is often instantaneous and allows kids to regularly check in and see their balance. Waiting for a bank statement to appear in the mail isn’t quite the same,” he said.

“There are also a number of innovative products developed specifically for kids, such as the Suncorp Kids Bank Account website which allows users to draw or upload a picture of what they are saving for.”

For advice on how you can get your child excited about saving head to www.kidspot.com.au.



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