RCBC GoSavers' shapes kids in becoming young investors for a secured future
At the age of 7, my parents instilled in
me the value of savings and how important it is to have “something for the
rainy days.” When the popularity of the “Happy Savers Club” was at its peak, I
have the sole decision to transfer my account there, well simply because I was
crazy over Sanrio and savings is more fun because of it. And wouldn’t you know
it,” rainy days” for me was desperately buying that Little Twin Stars’ pencil
case.
I also have a second bank account simply
because there’s another bank in Lucena that time which gave away a very big pen
if you open an account with a minimum amount of five hundred pesos. I remember
pooling my baon for a month (luckily it was December then) just to get that
ballpen. Looking back, I can’t believe I have two bank accounts even before I
graduated from grade 6. The feeling of security of having money in the bank is
great and I have this mentality that I am free to spend it whenever.
Just like then, today’s children also have
their own goals and dreams that they want to achieve. From something as simple
as buying the latest toy or gadget, to surprising their parents with a gift on
their special day, kids want to have their own money so they can experience the
feeling of spending freely.
This is the reason why it is advisable to start them early on their financial journey. As parents of this eager young generation, it is important to guide them as they make their own decisions and show them the value of saving and how to handle their finances wisely.
This is the reason why it is advisable to start them early on their financial journey. As parents of this eager young generation, it is important to guide them as they make their own decisions and show them the value of saving and how to handle their finances wisely.
Building
a secure financial foundation
One of the most effective ways parents can
first teach their children to save money is by letting them own a piggy bank.
Coin banks encourage them to save a portion of their allowance and grow their
money over time. In return, kids can use their savings to buy the things they
want while at the same time learning the value of patience and perseverance.
Budgeting can also work for kids and teens
who are given weekly and monthly allowances to spend. With a given budget, they
can learn how to smartly plan for their expenses and prioritize where to use
their money. This shapes them to become responsible and wise spenders in the
future.
Once they get used to saving in a piggy
bank, the next step is to open their own bank account. Having their own
personal savings accounts, kids can learn independence and responsibility in
managing their finances early in life. Likewise, it helps them grow and mature
to become financially savvy individuals.
Aside from teaching kids to save money,
parents can also guarantee a stable financial foundation for the young ones by getting
them insured. With life insurance, parents can have greater peace of mind
knowing their kids are covered from any unfortunate events. It also gives
children security and freedom to enjoy life without any worries.
One of the most child-friendly banks that
parents can trust in helping shape their kids to become smart young investors
is RCBC with its new GoSavers Kiddie and Teen Savings Account. It comes with
its own debit card and passbook that will assist children in tracking their
hard-earned savings. It is also the first start-up savings account in the
country that offers a comprehensive insurance package for both parents and the
child.
With only a minimum initial deposit of
P100, parents can already open a GoSavers account for their child. To qualify
for the free Sun Life Grepa insurance, the account holder must make an initial
deposit or maintain a 6-month average daily balance of at least P10,000. It promises
lifelong protection for the family with its life insurance for the parents and
personal accident and accident medical reimbursement for the child.
At the launch of RCBC GoSavers earlier held at the Test Kitchen Pasong Tamo, it was pointed out how it is important to start them young in saving, Emmanuel Valdes, Senior Vice President and Head of Deposit Products and Promotions Division shared that,“Our goal has always been financial inclusion for all Filipinos and part of that is educating children on how to save and manage their own finances.” He also that RCBC want to create a savings-conscious generation where the bank can enable and show to these kids how to intelligently and consistently grow their money for their own future.
With the RCBC GoSavers, parents can enjoy
the guarantee of a secured financial future and safety for their kids. It is open to children 21 years old and below
and they can either apply online through www.rcbc.com/Personal/GoSavers
or drop by at any RCBC branch nationwide.
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