Eddy’s Money Tips
Ever wondered about money? On this page you will find some really interesting information about day to day banking things, like, saving, budgeting, earning money, and depositing money.
Saving
Saving money is when you earn money either as pocket money, from your job or when someone gives you money as a gift. A great way to get something you really want is to save this money in your Big Sky e-Kids account.
Each time you add money to your account, your balance (the amount of money in your account) grows, as long as you don’t take it out (withdraw).
This allows you to save your money and earn interest (read more about interest lower down the page) on it. Plus, when it is in your Big Sky e-Kids account you are less likely to spend it, which means you can buy something special with your money when you have saved up.
Set yourself a goal. Think of something you really want, like a new book or model car, and find out how much it costs. Then, when you receive your statement, you can check how close you are to being able to buy it. When you reach the amount you need, you can withdraw your money to buy whatever it was you were saving for. How cool is that?
Don’t forget to use you e-Kids Money box! You can put a picture or photo of what you are saving for in the little window, so every time you drop some coins in, you remember what you’re saving for!
Budgeting
Budgeting is knowing how much money you will be receiving, and how much money you will have to spend. So if you get pocket money or do odd jobs around the house (visit my fun activities page to see a few ways you could earn some extra money), you will know how much money you will be getting. You can write down how much you need to spend, and that way you know if you have money left over, or if you need to keep saving!
Interest
Interest is money that the bank gives to you for saving your money. The more money you keep in your a-Kids account, and the longer you leave it there, the more money the bank will give you. That's why it's good to save as much as you can for as long as you can.