How to Open a Bank Account (back to top)
Here are some tips that might help you open a banking account. If you are under age 15 you may open a Minor savings account for $5.00. This will be a custodian account and at least one of your parents or guardian must be on the account. For age 15 and up the opening deposit is $50.00. You will need the following documents to open your account:
• A Social Security Card, and
• A School identification Card, or
• A Georgia Identification Card or Driver’s License
Bank On Your Future, Be a Smart Saver (back to top)
It is important to start saving early. Develop an attitude
to pay yourself first by saving a small portion of the
money that you receive from your job, gifts, allowances,
spare change, or money from chores.
Create a Savings and Spending Plan (back to top)
Know what you have coming in (income) and what must
go out for essentials (expense). Determine what you
have left for savings. Remember that it is important to
look at your needs versus your wants. Look for
alternatives to spending. Saving some money in the
bank will cause it to grow (interest).
The key is to save some, spend some, and share some.
Savings is an important, practical concept that students
need to learn.
Savy Saving “Beginning to Budget” (back to top)
Split any money that you earn, receive, or even find.
Find four (4) clear jars that you can label. On each jar
write the following: Charity, Quick Cash, Medium – term
Savings, and Long-term Savings.
Use the Following percentages:
• 10% Charity – Take 10% off the top to share;
• 30% Quick Cash – Use this 30% for instant
• 30% Medium-term Savings – Save 30% for 1 – 6
purchase something special;
• 30% Long-term Savings – Use this 30% for
in the future such as a car
or pay for college expenses.
For example, if you plan to save $7.00 from the money
you earn, or find you would put the following in your