Since I was a child, I was taught the important of savings. In fact, I had my first savings account when I was 6 years old. In those days, the bank will come to the school and encourage all children to start a savings account. Not sure if they still practise this good trend.
Basically, there are many types of savings account these days - unit trusts, fixed deposits, savings bond, investment bonds, to name a few. There are also good savings plans to help parents prepare for their children's future such as Child Trust fund, Future fund or Bonus Account.
It is helpful to educate children on how they should look after their money and be good stewards at a young age.
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