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BUCK, FIRST BUCK ACCOUNT from BUCK Academy
a Homeschool Crew Review
Thank you, BUCK Academy, and the Homeschool Review Crew for giving the Foote Family Homeschool the opportunity to do a review on BUCK, FIRST BUCK ACCOUNT.
Teaching Our Children About Finances
All too often we let our children do whatever they feel like doing with the money they get whether through working or through gifts.
We can give our children an advantage in life by teaching them from a young age how to handle finances.
BUCK Academy’s BUCK, FIRST BUCK ACCOUNT is a fun and educational way to help guide our children in the right direction when it comes to their money.
You Got Bucks, Now What
Your child has either earned or received some money as a gift and wants to do something with it.
Should he spend it?
Should she save it?
BUCK, FIRST BUCK ACCOUNT wants you to consider teaching your child to be intentional with their money right from the start.
Buck suggests having your child open his or her very first bank account.
The Logistics of Opening a Bank Account
The first question everyone has is, How exactly do I start a bank account?
BUCK, FIRST BUCK ACCOUNT covers all of the logistics of starting a bank account.
Topics covered included:
- Legalities of someone who is under age
- Choosing the right bank
- Preparing the right documents and information
- Visiting the bank
- Applying for an account
- Selecting the right kind of account
- Depositing the first funds in the account
- Mastering good money habits
Choosing the Right Kind of Bank Account
According to BUCK, the type of bank account you decide to open really depends on the answer to the following question.
Are you a spender or are you a saver?
A spender should open a checking account.
Checking accounts are set up to make spending money quick and easy.
A saver should open a savings account.
Savings accounts are set up to make it more difficult to get your money out.
What is a Debit Card/ATM Card?
BUCK teaches exactly what a debit card is and how to use an ATM.
BUCK TIP: Cash is King is a common statement made by wise spenders.
This book also makes sure the student understands the responsibilities and the risks of using debit cards and ATMs.
Have a Money Plan
As you earn or receive money as a gift, it is highly suggested that you already have a money plan in place.
Following this money plan every time you receive money will help your children, and you, do a great job at handling your finances.
30% spending 60% saving 10% giving
Make a decision to separate your money into certain categories every time.
A good strategy is for children is:
- 30% spending
- 60% saving
- 10% giving
This is just a suggestion though. You can discuss and come up with whatever works for your family.
One Million Dollars
BUCK teaches how to save and invest $10.00 a day starting at the age 16 in order to earn over one million dollars by the time you turn 64!
It kind of makes you want to stop eating at McDonald’s and start investing that Big Mac money, doesn’t it!
The End of This Book
The end of this book includes a glossary with vocabulary words and their definitions.
It also has two pages with easy-to-use forms to help you make sure you are choosing the right bank and bank account for you and your needs.
The Foote Family Homeschool
We are definitely frugal, penny-pinching, saving people in this house.
We thoroughly enjoyed reading BUCK Academy’s BUCK, FIRST BUCK ACCOUNT!
We highly recommend this book.
Read More Homeschool Crew Reviews
You can read more homeschool crew reviews on BUCK Academy’s BUCK, FIRST BUCK ACCOUNT over here.
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