Thursday, December 8, 2011

Sofia's first bank account

Sofia's school has a program with a bank in the center of town for kids to open up passbook savings accounts.  They sent the paperwork home a while ago and we went back and forth about whether or not do have Sofia participate in the program.  In the end we decided it would be good for her to learn about saving money and she would also be doing math without even realizing it.  We completed the form and sent it in to the school with Sofia's $6 that she had already saved.  On the first Tuesday of the month the passbooks and deposits get collected at school and brought to the bank.  They get brought back to the school on Thursday and the children can take them home.  Today was the first month the Sofia participated in the program and came home today with her very first passbook savings book.  It is so cute and she is very excited about it.  We will have to work with her every month to make sure she completes the deposits slips correctly.  It may be about the right time to start a chores list that she can earn an allowance for so that she can add money regularly to her account.

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