- Understanding the difference between checking and savings accounts
- Learning how to write checks and balance a checkbook
- Understanding interest rates and how they affect savings accounts
- Learning how to calculate interest earned on savings accounts
- Understanding the importance of budgeting and managing money
- Learning how to track expenses and income
- Understanding the consequences of overdrafts and how to avoid them
Continued development in managing checking and savings accounts can include:
- Exploring different types of bank accounts, such as money market accounts and certificates of deposit
- Learning about credit scores and how they are affected by financial decisions
- Practicing creating and sticking to a budget
- Researching different investment options and learning about the stock market
- Volunteering or interning at a local bank or financial institution to gain hands-on experience