FINANCIAL KIDS

YOUR FIRST STEPS IN FINANCIAL LITERACY FOR KIDS

June 20, 2019

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I'm Gabby — health coach for women. I'm here to help you lose weight the way you want to live it.

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Your kids need their own bank accounts

First things First

Most kids will start to get income from the time they are born. It’s a Nigerian thing. We hardly go for a naming ceremony, baby dedication party, birthday, etc without giving the parents money. Biko, that money is not for you. We sneer at individuals that organise wedding ceremonies in order to raise cash but when you have your kids the story changes. Lol. Mum and Dad you’re doing the same thing when you appropriate their funds for their own upkeep. They are still too young to pay for their living costs. 😂

So if we are agreement calculate all the dashes you have received on their behalf and if possibly double it and pay it into an account in their names.

I hope I’ve not touched a wrong chord but let’s rather take advantage of the situation to start their bank account with the sums we get from any activities in their names.

It’s relatively easy to open a bank account for kids. They don’t usually require a deposit except a small amount of money for ATM and other items but with 2k you can open a bank account in the name of your kids (and your wards if possible)

If there’s anyone of your kids without a bank account now, then you’ve got to do that before the end of this week or at the very most, the month. Stop being lazy and get that account opened.

If you’re wondering how to begin educating a baby, once you have a baby, open an account for that child and you’re on your way to educating that child.

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