>> Narrator: How can you help
your kids get into the habit
of saving?
>> All right, time to make
some banks.
>> Narrator: The fact is,
it's never too early for them
to learn this valuable habit.
Helping younger kids make banks
from common items
can be a fun activity.
And making more than one bank
helps them learn
a lot about planning.
>> Save, give and spend.
Now see, you can put money
in here that you want
to spend pretty soon.
But mom and I really want you
to save up for bigger things.
>> Yeah, like the animal
coloring book!
>> Yeah, right!
Or maybe even some other things
later on, too.
>> Narrator: No matter how
little it may be,
kids can practice saving
with cash from birthdays,
chores, even coins
found lying around.
>> Look!
I found a quarter!
And a dime!
>> Can you tell me why we make
this special bank for giving?
>> Because some little kids
don't have money.
And I could help make them
not be so sad.
>> Yeah!
>> Narrator: Learning to feel
good about being generous
is a wonderful thing for kids.
It can help them grow up
to be responsible adults.
And over time, young kids
will be fascinated
at how the money can accumulate
in their very own banks.
>> I'm ready to go, dad.
>> All right, great.
Let's go.
>> When you go out
to do your own banking,
take your kids along.
They'll learn a lot,
just by seeing what you do
and all that happens at a bank
or credit union.
You may take it for granted.
But remember,
it's probably all new to them.
>> Hi, Kara, my name's Amy.
>> Hi.
>> It's nice to meet you today.
>> Narrator: And as your kids
get a little older,
why not let them open their own
savings account?
>> Open a savings account.
Do you have a deposit today
for your account?
>> Yeah.
>> Narrator: Most financial
institutions have special
no-fee accounts
that make it easy to get started
with just a modest deposit.
>> Congratulations, Kara,
for depositing money
into your savings account today.
As you can see from this
receipt, you deposited $32.56.
>> Cool.
>> All right!
>> Narrator: When kids
have a savings account,
their money is out of sight,
and often out of mind.
So they're less likely
to spend it impulsively,
while planning for the future.
Over time, as kids continue
to use a savings account,
they also get the extra boost
of seeing how interest is added.
>> So you can enter the amount
you put in the bank
into this box here.
>> Narrator: There are several
Web sites they can go to
that compute compound interest
for any amount,
based on current interest rates
over time.
These days many, if not
most adults live paycheck
to paycheck.
It's like walking on a high wire
without a safety net.
But you can help your kids
avoid that peril when they
grow up, by teaching them
the savings habit!
>> Whatcha got there?
>> Savings.
>> Wow!
>> Whoa!
>> That's a lot!