Monday, April 20, 2009
Today, Miss A and I went to the bank. She set up a "Moola Moola Account" at our credit union. A "Moola Moola Account" is a special account for children under thirteen. The idea is to let them learn to save money and earn "moola moola bucks" toward fun prizes, like pencils, water bottles, posters, etc. She put her youth fair check in and will be learning to keep a record of her money. This is a good skill for real life and a nice bonus for her 4-H record book as she needs to know how much money she spends/earns on her fair projects. You may have a similar program at your bank for children. Generally it is pretty easy to set up, requires a small amount of money (ours is $5) to start an account, and the parent signs for them as they are a minor. The two younger children are contemplating starting an account with their tooth fairy money after seeing the (cheesey to a mom) (cool to a 5 year old) moola backpack and pencil. Well at least one of the children has tooth fairy money...the youngest one has "Meme" money...lol. I guess if they decide to part with their money, then I'll be headed back to the bank to let the younger two have their own "Moola Moola Accounts."