North Dakota State University NDSU Extension Service

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Savings

Saving Money

You may get money for your birthday, holidays, washing windows, mowing the lawn or an allowance. When you get money, you can do three things -- spend it, share it or save it.

Often spending money right away is fun. Sometimes you want to buy something that costs more than the amount of money you have. Then you can plan to save your money until you have enough to make your purchase.

To save means to keep for future use. You can save your money in a piggy bank. You also can deposit money in a savings account at a bank or savings and loan. If you do not have a savings account, ask your mom or dad for help in opening one.

While your money is in a savings account, the bank adds interest to it. Interest is money that the bank pays you for keeping money in the bank. The bank adds interest to your savings account as it is earned. The bank may loan your money to someone else, but you always will to be able to get your money when you need it.

For example, when you save enough money to make your special purchase, you will need to go to the bank. You can withdraw your money from the bank when you need it, but first you must get your parents’ permission. Try not to make too many withdrawals. You can use a special book called a passbook to record your deposits and withdrawals.

Try setting goals and saving money to reach those goals. They are habits that you can learn and use throughout your lifetime.

How many of these "saving words" can you find in the puzzle?

NDSU Extension Service, North Dakota State University of Agriculture and Applied Science, and U.S. Department of Agriculture cooperating. Duane Hauck, director, Fargo, N.D. Distributed in furtherance of the acts of Congress of May 8 and June 30, 1914. We offer our programs and facilities to all people regardless of race, color, national origin, religion, sex, disability, age, Vietnam era veterans status or sexual orientation; and are an equal opportunity employer.
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North Dakota State University
NDSU Extension Service