Chil­dren's Sav­ings

It's never too early to start saving

It's never too early to start saving, and it's also good to introduce children to saving at a young age. The first steps in teaching saving usually involve filling a piggy bank and bringing it to the bank, perhaps even receiving a small reward to take home.

However, it can be difficult for children to understand where the money goes and why it's better to keep it in the bank rather than in a piggy bank in their room.

For parents, it's good to consider opening a savings account for children early on, as it's never too early to start setting money aside and saving. Arion Bank's Future Account is specially designed for savings from an early age, with deposits bound until the child reaches 18 years of age.

As children get older, it's important to teach them good values when it comes to finances and increase their financial literacy by giving them insight into their own savings and how they can grow. This way, you can show them how the amount increases when the piggy bank is emptied, sparking their interest in saving for the future.