Taking Your Kids to the Bank

Once upon a time, parents took their children to the bank to make deposits and withdrawals. Now that paychecks are electronically deposited, how else can children learn that a deposit needs to be made before money can be spent? How do they then learn other important financial skills such as investing and risk management?

Printable Checklist: Taking Your Kids to the Bank

Teach your kids about money by opening a savings account together!

☑️ Before You Go:

  • 🔲 Choose a kid-friendly bank or credit union (ask if they offer youth savings accounts)
  • 🔲 Set a goal: What is your child saving for? (Toy, trip, long-term savings, etc.)
  • 🔲 Gather documents:
    • 🔲 Parent’s photo ID (driver’s license or passport)
    • 🔲 Child’s Social Security Number (or other ID as required)
    • 🔲 Proof of address (like a utility bill)

☑️ At the Bank:

  • 🔲 Introduce your child to the banker: “This is my son/daughter. We’re here to open their first savings account!”
  • 🔲 Let your child fill out any forms with your help
  • 🔲 Explain the purpose of a bank:
    • “The bank is a safe place to keep your money.”
    • “They help you save, and sometimes even give you extra money called interest.”
  • 🔲 Make the first deposit together (even $5 is great!)
  • 🔲 Ask your child:
    • “How do you feel putting your money in the bank today?”
    • “What’s one thing you might save for in the future?”
  • 🔲 Get a receipt or balance slip—let them hold it!

☑️ After the Visit:

  • 🔲 Talk about the visit:
    • What did you learn?
    • Why is saving important?
  • 🔲 Plan your next deposit visit
  • 🔲 Set a savings goal and track it together

☑️ Bonus Ideas:

  • 🔲 Create a simple chart or savings tracker at home
  • 🔲 Celebrate small milestones: “Wow! You’ve saved $50!”
  • 🔲 Share a family story about saving or a time when saving helped you

🏦 Homework: My First Bank Account

Name: _________________________

Date: _________________________

✏️ Part 1: What is a Bank?

Write down what you learned today!

  • A bank is a place where...
    _____________________________________________
    _____________________________________________
    _____________________________________________

💵 Part 2: My Saving Goal

  • My goal is to save for: ___________________________
  • How much money do I want to save? $ _______________

📈 Part 3: My Bank Visit

  • What did I do at the bank today?
    _____________________________________________
  • How much money did I deposit?
    $ ___________________________________________
  • How did I feel about saving my money?
    _____________________________________________

🏆 Part 4: Let’s Think About It

  • Why is it important to save money?
    _____________________________________________
  • How do banks help you save money?
    _____________________________________________
  • What could happen if you don’t save?
    _____________________________________________

📝 Part 5: My Next Steps

  • My plan is to add $ ___________ to my account every ___________ (week, month, etc.)
  • My goal is to reach $ ___________ by _______________ (date)

🎉 Bonus Challenge

Ask a parent or grandparent:

  • When did you open your first bank account?
  • What did you save for?

Write down what they say here:
_____________________________________________

Created by PolicyDad.com

Click here to download and print this as coloring book page!