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What Age Can a Kid Have a Bank Account?

November 1, 2021

As a parent, you’re constantly teaching your kids all kinds of life lessons. For example, financial education: Kids pay attention when it comes to how you spend and save your money. And the lessons they’re learning now will influence how they handle money as they get older.

Opening a bank account for your kids might be an ideal way to teach them about money management. But it’s important to determine the right age to open your child’s bank account. You may also want to know how to set up a kid’s bank account, and what to look for in a bank if you’re planning to open a savings account for your child. Here’s how to get started.
 

Posted in: education, financial, kids, management, money, saving

What Is a Sweep Account, and How Does It Help My Small Business?

September 27, 2021

Running a small business is an intense, but rewarding undertaking. Most owners and operators start their business out of passion. Some smart financial moves and optimized cash management can support that passion and help your business grow. The right bank can offer you solutions you may not have known about. One key example is a sweep account. In the following article, we’ll answer basic questions like “What is a sweep account?” “What are the benefits?” and “What are the drawbacks?” By the end, you should have a clearer understanding of how this type of account can benefit your small business.

Posted in: account, brokerage, business, cash, earn, interest, management, small, sweep

Our Favorite Free Online Courses for Financial Literacy

September 1, 2021

With the vast array of resources available online, many people are investing their time in self-development. While there are many valuable internet-based classes that charge a fee, we’ve outlined several free courses from reputable sources to help you become more financially savvy. Of course, you can also take advantage of free educational tools and tutorials on our website.

Posted in: Education, EVERFI, learning, management, money, Online, STEM, students