Want your teenager to become financially responsible?
Instil good money habits in them from an early age so that they understand the value of money. Know how
IDFC FIRST Bank
Financial literacy
First, teach them the basics of finance like the concept of savings account, fixed deposits, investments and savings.
IDFC FIRST Bank
Regular allowance
Give your children a lump sum allowance and tell them to meet their personal expenses. This will teach them how to spend within a budget.
IDFC FIRST Bank
Planning ahead
For any big purchase, ask your children to plan ahead. Motivate them to save from their allowance so that they can buy what they need.
IDFC FIRST Bank
Importance of earning
Set small chores and pay your teenager for completing them. This will inculcate a sense of responsibility and teach them the value of money.
IDFC FIRST Bank
Open a bank account
Open a bank account for your teenager and give them a hands-on banking experience. Supervise the account and help them save and spend smartly
IDFC FIRST Bank
IDFC FIRST Bank offers minor’s savings accounts. Help your children save and earn with monthly interest credits and zero-fee banking.