Keeping Track of Kidpreneur Cash


Our Kidpreneurs need to keep track of their cash these days. It's too easy to lose amongst the Lego mess and earnings from different sales avenues.


Piggy Bank or Little Metal Savings Bank?

We had had blue plastic "piggy banks" from the boy's great grandpa, which broke almost immediately because they were more fun to play with than to save money in. Then came the little metal bank with 3 compartments (I'm sure you LDS Mommas have seen those everywhere) that keeps their Tithing (10% of their earnings for the Lord), Savings (10% to save up to serve a mission for The Church of Jesus Christ of Latter-Day Saints) and then Spending (80% to spend). Even when they have cash in their Spending slot, mom tries to encourage them to save up for things like a toy they want, candy or something like that, cause they don't have goals like car and house just yet.

Kids have Financial Goals?

Currently, our oldest set a goal at the beginning of the year to save $300. He told his teacher and wrote it down, and well I think he thought it was mostly fake and not a real goal, but you know mom jumped on that opp and decided, "what a great idea son!" Here we are 7 months later, and he's over halfway there!!!!! So proud of him, he is so much closer now and he said to me the other day on our way home from the bank, "Mom, it's going to feel amazing when I've reached my goal of $300!" Indeed it will feel amazing!!!! He wants to buy a Nintendo Switch, MSRP $300. I was not taught to save, manage my funds or even taught to have financial goals unless you count the goal of just wanting to be rich, but I can definitely teach my kids to do that. Fun fact, I'm more of the "do as I say," mom than a "do as I do," momma because I was so bad with budgeting and money growing up. I'm glad The Hubs is better at that than I am and that we get to teach our boys better financial habits than just buying Crumbl Cookies every craving we get! LOL they are really delish though. Don't judge unless you've tried them.

Outgrowing the "Home Banking" System

Needless to say, our oldest and even our li'l kidpreneur have outgrown their metal banks. Seems like they are also losing their cash mostly because they are still playing with it and taking it out of where it's supposed to be "safe." I don't think they are meant to hold over $25 in them anyways. They have been awesome as starters but glad there is something better for them!

Introducing Utah Community Credit Union!

I saw their sign said something about "Kids Bank Accounts" and I was all over that and I told our oldest about it and he has been bugging me to take him to set up his account ever since. So we finally did it yesterday!!!!

Chris was so kind, he even stayed a little late for us to finish setting up our accounts. Luckily they are open until 5:30pm or I would have felt like a slacker mom again for not taking them to set it up. PHEW!

Expect 3 Accounts per Kidpreneur

As a parent, you will be the co-signer on the accounts until they are 18 and it turns into a regular checking account. You will also be setting up 3 accounts for them when you go (not sure why all 3 are really necessary but we did it):

  1. Youth Checking Account - access to funds from the card this is our "Spending"
  2. Youth Savings Account - withdrawal maybe 2 times a year, this is our "Missionary Savings"
  3. Regular Savings Account - you can withdrawal anytime no penalties.

...and our "Tithing," well that will just go directly into the envelope to the Bishop unless of course we set them up with their LDS Account and link it to their checking account so they can pay their tithing online. WOW! The possibilities are exciting, but for now, I think we will keep it all separate for easy budgeting.

What's Needed: Youth Checking & Youth Savings Account


  • Child's Social Security Card
  • $5 for minimum balance in the Youth Shared Checking Account
  • Parent's Driver's License
  • Parent's Social Security #
  • $5 for minimum balance in the adult Personal Savings Account (this is only needed if you don't have an account with them already.)
  • They need to think of a 4 digit passcode for their Debit Card (as a parent I would keep track of this for them just in case)

What you Get: Youth Checking, Youth Savings & Regular Savings Accounts


  • Free Checkbook (if they keep track of their cash and fill out the details in it for each transaction when it's full they get $15 free!)
  • Deposit Stamp Card (They get a stamp with every deposit they make, and if they fill it up they get $10 free!)
  • Checking Debit Card that's also a Visa! (My boys loved this, and want to go buy something with their cards ASAP, so plan for a trip to get ice cream or something cheap and fun for them to get on their own!)
  • Online Banking Access (so they can check their balance whenever they are unsure or trying to save)

Sign up for an account!
No, I do not get anything for you signing up. I just think it's perfect for our kidpreneurs.

I would also say if you have different areas for kids to budget (like we do), then keep a running tally on a sheet, spreadsheet or google docs so they can always know their balance on each different one. Feel free to use this free Kidpreneur Cash Keeper Sheet if you'd like! Free PDF download.

Download Kidpreneur Cash Keeper PDF

This is how our son has been keeping track of his cash. Love kids handwriting.

All in all, we are so thrilled with this new way to keep our cash safe. Open an account and LMK what you think!

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