Tuesday, April 24, 2007

Saving your money

I know, I know, silly posting, right? Well, it's not an impossible thing to do. Teens love clothing and shoes and going to the mall and jewelry amongst many other things. Oh, and let's not forget purses !!! However, saving a little bit of money is something that you should strive for. I have kept a savings account for my teen and told her whenever she got a certain amount saved, for instance, $50, or $100 that I would match that, just to give her the incentive for saving. Well, I have noticed how savings accounts are ok, but not giving the best interest out there in today's world. I have checked into a CD, through our bank, which allows us to start one as low as $500. It gives a little over 5% instead of the 1% you get through a normal savings. Since we started saving at a late date, we are almost up to that amount that we can start a CD. Check into your bank and see what they offer. It could be challenging enough to get that savings off to a kick start....never know when they are gonna need it with impending college coming up !!!!

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