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The importance of saving!

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Bobby, Chloe and Elisha have been given a school project all about money!

They are going to write a pop song full of top money tips, but first they need to learn a thing or two…

Saving gives you more choices!

Savingjar

Saving money is a great habit to get into!

Your mum might save up for holidays, putting a few pounds away into a special bank account.

It’s super easy to do, just transferring from her main account into a savings one.

It could mean you get to enjoy big things like a trip to Euro Disney!

Disney

Sometimes going without little things means you can enjoy big things later with the savings.

That’s another good reason to save. It means you can have a larger amount to spend on something big or more important to you in the future.

And it’s definitely not just for grown-ups!

Let’s say there’s a pair of new headphones you really like but they are a little pricey.

Piggybank

chloenew

You could save some of your pocket money each week and put it into a piggy bank instead of buying sweets on the way home from school and before you know it, you’ll have enough to buy the headphones!

Or you could set up a savings account at the bank.

When you deposit money in a bank, it’s kept safe in a special account with your name on it. When you want to use the money you’ve saved, you go to the bank and make a withdrawal.

If you save money, it helps to have a goal in mind—an idea of how you’d like to spend it.

Parents always go nuts when they get an unexpected big bill – If they have

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Money Matters

Learn all about money

More From Money Matters