I recently created a spreadsheet to help my son track his savings.Â 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.Â Kids are visual – and explaining the concept of an online savings account can be rather challenging.Â 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.Â Screen shot –
The spreadsheet is designed to track savings for one 30-day calendar month.Â Enter beginning balances at the top of the spreadsheet – and then track any deposits or withdrawals that are made throughout the month.Â There’s also a cool chart at the bottom of the page, to show savings progress.Â Screen shot –
Click here to download the spreadsheet (available in three formats) –
Kid’s Savings Spreadsheet for Microsoft Excel
Kid’s Savings Spreadsheet for Open Office Calc
Kid’s Savings Spreadsheet for Google Documents (No Chart)
Remember to include any interest earned.Â I simply enter it on the last day of the month.Â If a particular month has 31 days, simply combine withdrawals or deposits on day 30.Â The goal is to keep the spreadsheet as simple-to-use as possible.
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6 thoughts on “Spreadsheet For Children’s Savings – Encourage Kids To Save”
our kids have to save indeed
Good for you for teaching your children about savings and encouraging them to save! My father did the same–and I was maxing out my Roth IRA since the age of 17. I truly believe this has changed my future in major ways!
It’s awesome your teaching the little ones money management skills as I feel schools are definitely not doing anything closely related to that. I will implement this soon with my young ones also. Great Post.
I already encourage my neices to save and opening up accounts for your children is an excellent idea. If they get used to managing money now they’ll be so much better able to do it when they are older
dyakuyu za korysni porady shchodo vedennya finansiv
thanks for useful tips on keeping finance
Thanks for information, Interesting to read now. Good luck in the new year.
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