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
🖨️ Print This Checklist
🏦 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
🖨️ Print This Homework Page
Click here to download and print this as coloring book page!