Malik loses his money AGAIN!! Jamal helps him explore the reasons why a bank account might be a good idea but Malik has some questions - What is Interest? What type of bank account to you need? How do you get your money back out?
Tips for Parents
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Here's how to talk to your child about it >>>
Hey your child, having a bank account is like having a special piggy bank that keeps your money safe and even gives you more money over time. You can choose different types of piggy banks and take your money out whenever you need it!
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4 activities you can do with your child now >>>
- Talk to your child about the importance of saving money in a bank account. - Explain to your child the concept of interest and how it can help their money grow. - Help your child open a savings account at a local bank and explain the process. - Encourage your child to set a savings goal and track their progress towards it.
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Pretend play with your child >>>
GAME: "Money Mastermind" As you watch the video with your child, ask them what they would do if they lost their money like Malik. Then, make a list of reasons why having a bank account is important. Take turns pretending to be the bank teller and the customer. Use play money and a piggy bank to teach your child about interest, types of bank accounts, and how to withdraw money.
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1 moral thought for your child inspired by this >>>
Save your money in a bank account. It earns interest and keeps your money safe. Don't keep it all in one place like Malik.