Getting Started
To get started, help your child open a MACU Penny Panda savings account. They will be excited to have their very own bank account, and they will be invited to special VIP Penny Panda events, including the annual Penny Panda movie morning. And, they will learn about the benefits of a savings account from a young age.

A Plan Is Essential
Create a plan your child can be excited about.

Seeing Is Believing
Get 3 clear jars, and let the saving begin. Kids are visually motivated. Clearly label each jar: savings, spending, and giving, so your kids learn responsible money habits from the time they are young. As they begin to save and add to their jars, they will see their money grow and become excited. After each jar is filled, let your child bring the savings jar into MACU to deposit. Let your child take the giving jar to donate to a church or nonprofit of their choice, and allow him to have spending money from the spending jar.

Earning Is Important
Give your child an opportunity to earn money. Create a list of jobs that have a monetary value assigned to them. When your child completes that job to your standard, he earns money and can add it to the jars. This will teach him that money is earned.

Generosity
Teach your child to be generous and predetermine a good cause that your child would like to give a small portion of his earnings to.

Have a Goal
Help your child choose something to save for. This will help him avoid impulse buys and will cement the idea of saving.

The Value of Saving
Encourage your child to save for the future. As he saves, part of the savings can be for the thing he wants, and the rest can go for the future.

Starting your child out with a basic understanding of money will help him establish a good foundation, so he will learn the importance of budgeting to achieve longterm goals.