Information » Money » Pocket Money » Saving
- It is up to you what you do with your pocket money, but some people choose to save it
- You might save your pocket money up to buy something you want, like a new pair of trainers or a computer game. Some people also save their money for spending when they go on holiday, to buy Christmas and Birthday presents for family and friends, for a school trip, or just for a 'rainy day'
- You can either save your money at home or you can ask your parents or carer to help you set up a savings account at a bank, where your money can be kept until you need it
- If you have a savings account, your money will also earn more money for you. The bank will pay you a small amount of money each month, known as 'interest' as a reward for using their savings account. See TYPES OF ACCOUNTS for more details on setting up a savings account
- Ask your parent or carer for advice on choosing the right type of account if you are worried