Teaching Kids About Money

Since I was young my parents have always told me I needed to save my money. When I was younger and didn't understand money very well, my parents would take a portion of the money I received to put into savings. Now that I'm  older they still tell my I need to put some of the money I get into my savings account. I also have a debit card, that my parents and I set up in the past few months, although my parents don't want me to use it unless I ran out of cash and I needed to. Through that process I learned how to withdraw money from an ATM.
I learned in the savings module that if I keep my money in my savings account for long time I will earn interest which will increase the amount of money I have. I also learned about compound interest which is interest you get on your interest, even though it isn't much, in the long run it will add up. This helps me because now I want to put most of the money I receive into my savings account so I can earn more money from interest. The interest rate affects how much money you get based off of the amount in your savings account, the higher the interest rate, the more money you will get. I also learned that having a budget is very important, having a budget will help you manage your money and keep track of it. I will make a budget before spending my money. Something that will be useful in the future for me will be knowing how to have and keep a good credit score. If I pay all my bills on time, and have no debt, then I will have good credit score, which will help me if I want to buy a house, car, etc. It will also help if I need a loan. I learned a lot about money and the importance of it from the savings module.