re: Kindergartners and Bank Accounts

Some ideas I have seen dont involve real bank accounts. Set up a series of piggy banks. Label each one for the various categories such as giving, savings, and spending.

Have them write out a long term goal on the savings jar. Something like a new bike. Set up a money distribution budget and each week you have them divide the money.

You could even give him interest as well, and find creative ways to force him to use the spending money. Perhaps even cause him to make a tough decision on his weekly contribution.