Kids And Money: Make Saving Fun With Remote Deposit

There is a smarter way to approach kids money make saving, and it starts with knowing a few key details. This guide covers them, along with tips you can apply immediately.

Key Takeaways

• Though, I couldn’t get him interested in depositing money into the online account.
• He preferred taking his cash to the credit union, where he has a kids savings account, and physically depositing it.
• Recently, though, I had an epiphany.
• Worth noting: he’s a 10-year-old boy.

Tips That Make a Difference

SharePin4TweetShare37 SharesA few years ago, when ING (now Capital One 360) was running a promotion for opening a kids savings account, I took the plunge for my son. He loves all aspects gadget-y, and he’s fascinated with my iPhone.

• So, I decided to bribe him with the concept of applying the cell phone to deposit money.
• Remote Deposit to a Kid’s Savings Account First of all, I had to get him excited about the prospect of depositing money into the online savings account.
• More importantly, so I showed him that, even though he hadn’t added money to the account in a couple of years, it was still earning interest.

Common Mistakes to Avoid

We looked at the account history, and he could see that he had been earning free money. Then we compared the interest rate on the online account with the rate from the brick and mortar account.

• We talked about how there was more free money to be earned with the online account.
• Remember that still, though, he was hesitant.
• He genuinely likes the physical aspects of depositing money.

Is Kids Money Make Saving Worth It?

That’s when I told him he could deposit the money with the cell phone. Of course, it takes a little doing, but, in reality, it’s still easier than driving out to the credit union.

• As a rule, here are the steps we followed to deposit the money into his online account: My son counted his money to see how much he had.
• This is one of the most exciting parts of the saving process for most kids.
• They love to see how much they have amassed.

Where the Real Savings Hide

My son counted out the money and then gave it to me. In short, i wrote a check for the amount.

• Yes, I had to pull out the little-used checkbook for this exercise.
• Though, my son was thrilled that I wrote out a check to him.
• He also thought it was cool to endorse the check on the back, as he has seen me do with checks I receive from clients.

A Closer Look at Kids Money Make Saving

Worth noting: we used the bank’s cell phone app to snap the appropriate images of the check. It was straightforward to fill in the information about the check, and identify which account it should go into.

• We checked the account history online to see that the amount was “pending.” It was solid enough for my son, though, to see that suddenly his account was bigger.
• After looking at the amount, he made the following realization: “At the end of the month, the free money I get in interest will be enough to push my balance over $200!“ While process was a little cumbersome, it only took about five minutes total, and my son relished each second.
• More importantly, he wants to withdraw all his money from the credit union now and move it to the online account.

What to Know About Kids Money Make Saving

He’s also excited to save up his money, demanding to know how much he requires to save up before I think it’s worth it to write him another check that he can deposit via cell phone. I’m glad that this experience has re-kindled an interest in saving in my son.

• I’m also glad that it has laid a foundation for talking about interest, since he’ll be ready to begin learning about investing in the next couple of years.
• Remember that how do you encourage your kids to save?
• 3 Methods To Trick Yourself Into Saving MoneyI don't know about you, but sometimes I have a difficult time saving money.

How Kids Money Make Saving Really Works

If the cash is there, it ends up getting spent! For… 10 Fun And Free Aspects To DoI'm so bored These can be some of the most pricey words to come out of someone's mouth since in most cases the phrase is… Saving Money At The Movies This SummerSave money at the movies this summer by implementing the advice in these helpful pointers.

As a rule, time to save at the silver screen!

Frequently Asked Questions

How can I save money on kids money make saving?

Compare prices across a few retailers, look for active coupon codes, and time bigger buys around sales events. He loves all aspects gadget-y, and he’s fascinated with my iPhone.

Is it worth shopping around for kids money make saving?

Usually yes. So, I decided to bribe him with the concept of applying the cell phone to deposit money.

What should I check before buying?

Read the terms, confirm any code still works, and factor in shipping or returns. Remote Deposit to a Kid’s Savings Account First of all, I had to get him excited about the prospect of depositing money into the online savings account.

Smart Ways to Save More on Kids Money Make Saving

• Pair cashback with a coupon so you save twice on the same order.
• Stack a coupon code with an existing sale whenever the store allows it.
• Sign up for the retailer newsletter to catch first time and seasonal discounts.
• Compare the final price including shipping, not just the headline number.
• Check for student, military, or first order offers you may qualify for.

Final Thoughts

Before you check out, line up kids money make saving against current promotions and any codes you can stack. Small habits like these add up to real savings over a year.

Originally published at biblemoneymatters.com.