Savings

You might want to think about saving some of your pocket money or earnings, so that you can either buy something you particularly want, or keep it for the future.  You could keep all your savings in a pot in your bedroom, but it may get lost or stolen, or it may be more tempting to spend it!  You could open a bank account.

There are many different sorts of bank, building society and post office accounts that young people can open, and your carers will help you work out which one would be best for you.  If you put your money into an account you can get extra money added to your savings by the bank.  This is called “interest”, and the amount of interest depends on how much money you have in the account and how long you leave it there for.