Back-to-School Savings: Why Every Kid Needs a Youth Savings Account This Year

It’s that time of year again: new backpacks, fresh notebooks, a closet full of new shoes your kids swear they’ll keep clean. But what about the money habits they’ll carry for life?

Back-to-school season is the perfect time to help your kids build confidence and learn how to save for things they really want — whether it’s a family zoo pass, a new bike, or the dream car they’ll buy (with your help) down the road.

At Farmers & Merchants State Bank, we love helping local families teach kids what they won’t learn in the classroom: how to save smart, spend wisely, and plan ahead.

What Is a Youth Savings Account?

Think of a Youth Savings Account (YSA) as a starter kit for financial confidence.

A YSA is:

• Designed specifically for kids and teens under 18
• A safe, FDIC-insured place for kids to put their birthday money, allowance, or first paycheck
• An account that actually grows thanks to competitive interest (much better than hiding that cash under the mattress)

Unlike your old-school piggy bank, a YSA helps kids learn how banks work — and what it means to watch their money earn interest.

Why Start Saving Young?

Research shows kids who learn to save early are more likely to build healthy money habits as adults. When kids see their balance grow (instead of disappearing into impulse buys), it clicks: saving = power and freedom.

Opening a youth savings account now can teach kids how to:

• Set realistic goals
• Delay instant gratification
• Plan for big dreams (a summer pass to the Henry Vilas Zoo, a new skateboard, or even a used car down the road)

Teachable moments to open an account:

• They just got birthday or holiday money
• They’re earning an allowance for chores
• They landed their first summer job
• They’re old enough to babysit, dog-walk, or mow lawns for neighbors

How Can Kids Fund Their Savings?

Kids are creative — and so are their income streams. Here are a few common ways local kids grow their first savings accounts:

• Allowances & Chores: Teach kids to “pay themselves first” with every dollar they earn.
• First Paychecks: A part-time job at the local ice cream shop or grocery store can help teens learn how to manage direct deposits.
• Side Hustles: Babysitting, lawn mowing, pet sitting — your young entrepreneur can stash that cash safely and watch it grow.
• Gift Money: Birthdays, holidays, graduation gifts — help kids learn that saving some of it now means bigger, cooler rewards later.

Why Choose an F&M Youth Savings Account?

Our Youth Savings Accounts aren’t just safe... they’re built for real life and real kids!

Here’s what you get when you open one with us:

• Free online banking & mobile app — parents and kids can check balances anytime.
• eStatements & 24/7 Telebanc — perfect for digital natives.
• Direct Deposit Ready — ideal for that first paycheck.
• FDIC Insured — your child’s money is safe and sound.
• Parental Oversight — see deposits, teach goal setting, and celebrate milestones together.

Plus, your family can count on the same local service that’s made Farmers & Merchants State Bank a trusted partner for generations.

How Parents Make It Work

A Youth Savings Account isn’t just an account — it’s a learning tool. Here’s how parents can use it to raise financially confident kids:

• Match Savings: Offer to match part of what they save to encourage good habits.
• Set Goals Together: Help them plan for realistic, age-appropriate goals.
• Review Statements Monthly: Teach them to check balances and track progress.
• Talk About Needs vs. Wants: Show them how saving helps them get more of what really matters.

How to Open a Youth Savings Account at F&M

Starting is simple:

1. Stop by your local branch (bring your kid along to make it fun!)
2. Bring ID for you and your child
3. Or start the process online — submit a new deposit inquiry

We’re here to make it easy, local, and stress-free—so your child’s money journey starts on the right foot. Questions? Please give us a call or stop by the bank in person!

Talk to a Banker

It All Adds Up to Bigger Dreams

From learning to save for a family zoo pass to funding their first car or college textbooks, good money habits start now.

And when they’re ready for their first checking account, credit card, or even their first loan—guess who’ll be there for them every step of the way? Farmers & Merchants State Bank.

Ready to Help Your Child Save Smarter?

Open a Youth Savings Account today — because good money habits are the best back-to-school supply you can give them.

Open a Youth Savings Account