I recently created a spreadsheet to help my son track his savings. He has moved beyond the simple three-jar setup that we used for his older sister – and I recently helped him open his very own Kids Savings Account from ING DIRECT.
He really digs updating the spreadsheet, which helps him visualize just how much money he has saved. Kids are visual – and explaining the concept of an online savings account can be rather challenging. The spreadsheet keeps him informed and motivated.
The spreadsheet – which is free to download below – tracks how much he has in his Totes Digital Football Coin Bank piggy bank, his wallet, and his savings account. Screen shot –
The spreadsheet is designed to track savings for one 30-day calendar month. Enter beginning balances at the top of the spreadsheet – and then track any deposits or withdrawals that are made throughout the month. There’s also a cool chart at the bottom of the page, to show savings progress. Screen shot –
Click here to download the spreadsheet (available in three formats) –
Remember to include any interest earned. I simply enter it on the last day of the month. If a particular month has 31 days, simply combine withdrawals or deposits on day 30. The goal is to keep the spreadsheet as simple-to-use as possible.
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