What’s a savings account?

ZingHow do you save your money? If you haven’t already, it’s time you checked into a savings account at the bank!

ZoeyHmmm. So, once I have money, I can put it in the bank to save it.

Why not just keep it myself?

ZingTrust me — it’s great! The bank keeps your money safe for you until you want or need it. But the bank sometimes does something else — it pays you money to keep your money in your savings account! The money you earn is called interest.

Money moving from a person to a bank as savings, and then money moving from the bank back to the person as interest on their savings.

ZoeyI like the sound of that. Getting paid for saving money? Awesome!

That means your savings get added power for reaching your big goals … like buying the latest phone or going to college.

Click the Next button to learn about opening a savings account.