save junior save

Some 20 over years ago, I still remember those times when I fill up my piggy banks as soon as I possibly could just because I wanted to have more lines in my passbooks ... I thought the more lines I have, the more money I have (without realising that more lines could mean more withdrawal / debits..haha),

because I wanted to get more freebies when I go to the banks. Banks during that era were generous to their junior savers.

I remember not only getting free piggy banks various edition, quarterly children magazines, some stationeries, some drawstring bags, some other goodies.

Fast forward, we opened junior savings account for our children ... I'm secretly waiting for the day when I can bring them with their filled piggy banks to the bank and teach them the benefits of saving (even a dollar a day ... yes, it has to be at least a dollar a day cause a cent a day doesn't really work anymore).

Although I've introduced ah bi to piggy bank and putting coins inside, but I think this is more of a practice of fine motor skills development rather than inculcate savings...don't think can understand yet.

meanwhile, while waiting for ah bi to grasp the understanding of savings, this mother is adding more lines to ah bi's junior account=p

This mother is parking some of her monthly cashflow (pending to pay bills) in ah bi's account to earn a little more interest. Yes, this mother can be this 'calculative' in this sense ... but like I always say a penny earned is a penny earned.

Note that : a junior savings account can offer interest return as competitive as FD rates (2.5%pa - 3.0%pa) whereas a normal adult savings account offer only (0.1%pa - 1%pa).

Now if you are me, where would you put your money?