Start Saving Early & Watch Your Money Grow!

 

Learn how compound interest makes early savings a powerful habit for kids and teens.

 

Why Start Now?
The sooner you start saving, the more your money can grow over time! Thanks to compound interest, your savings don’t just sit there – they earn interest, and that interest earns interest, too. This means that even small amounts saved early can turn into big savings in the future!

What is Compound Interest?
Compound interest is when the money you save earns interest, and then that interest earns even more interest. The longer you save, the more your money multiplies.

For example:
If you save $10 a month starting at age 10, and it earns 5% interest annually, you’ll have over $4,000 by the time you turn 30. But if you wait until age 20 to start, you’ll only have around $2,300 by age 30. That’s almost half as much just because you waited 10 years!

Smart Ways to Start Saving

• Set a Goal: Saving for a bike, video game, or college? A goal keeps you motivated.
• Open a Savings Account: A youth savings account with American 1 Credit Union helps you grow your money safely.
• Save a Little, Often: Even saving just $1 or $5 a week adds up over time.
• Earn & Save: Do small jobs like mowing lawns or babysitting and save a portion of your earnings.

Make Saving a Habit!
Start now, be consistent, and let time work its magic. The sooner you save, the more you’ll have for the future! Visit American 1 Credit Union today to open a youth savings account and take the first step toward a strong financial future!

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