The earlier you teach your children the importance of saving on a regular basis, the sooner they will learn about money, finances, establishing credit, and setting goals for their future.

Most banks and credit unions offer to your children financial programs that make saving an interesting and fun activity, such as the popular savings safari program for kids age 12 and under, but there are many other programs under the same concept.

A saving safari account basically includes the kid's official membership card, a guide map of savings deposits, a safari scout certificate, a birthday card, contest to enter and online activities, besides the information on money management and other promotions that vary from institution to institution.

The purpose of savings safari accounts is to encourage children's saving habit, and reward them somehow. A saving safari account holder is called savings safari scout, and every time the scouts makes a deposit into their accounts, they earn a stamp for their "Safari Map". The minimum amount to save ranges between $1 and $5. Overtime children can redeem the collected stamps for safari stuff or prizes.

Good habits should start early in life and the development of children's money management skills is critical to their future. In fact, there are preschooler’s spending and saving programs, teaching children about money long before they enter school, by observing adults using money and buying things. Obviously, parents must be aware of their own spending and saving habits to help their children learn.

Because everything children see affects their attitudes about what money is for, parents must not only observe good habits, but also teach them basic lessons about money to avoid them being mislead by what they watch on TV. Preschoolers may understand the message and may not, but they will be better prepared to understand it later in life.

Many banks offer preschooler educational programs at no charge and intended to help parents teach their children how money works, what it can do, and how their family uses money. Those programs consist of simply activities to teach children not to lose money, wait before spending it, learn to earn it, help them to manage it, etc…

Many children like to gather pennies, nickels, dimes and quarters because they find pleasure in counting money. These children are usually the best candidates for a regular savings account because there is no minimum age at which these accounts can be opened. Although most banks offer children's saving accounts, they generally require an adult to run them until the kid reaches age 11.

Children's savings accounts usually can be maintained until the age of 18; however, parents must analyze the different offers because of the interest rates, some of them as low as 0.1%. Like any other bank account, the adult is in charge and can switch to a better deal if the children's account rate drops.

Like safari accounts, children usually receive gifts when the account is opened, but in this case, those gifts vary according to their age, from teddy bears, toys or piggy banks for younger children to CDs or vouchers for teens. To help you manage your children's money, many banks limit the number of withdrawals per year, or require advance warning as the goal is save.

Another children's saving option is investing in bonds, which usually offers a higher or fixed rate of interest. Bonds tie money up for a minimum period of at least three years on average, and they can be run until children reach a determine age between 7 and 18 years old. Like regular savings accounts, bonds must be taken under adult supervision.

Children who develop the ability to manage money and show responsibility maintaining their spending and saving under control can receive a checking account and/or a debit card at a later time. This transition often occurs during the early teen years, but can be as soon as they turn age 10.

Most banks offer student checking accounts to help a student with their expenses before high school, learning how to budget and manage their own funds, at the time that they begin their preparation toward future applications for loans or credit during their college years.

This article was written by Anita Johnston,  a Staff Writer for www.directlendingsolutions.com.