Even Small Savings Add Up

Many parents (or guardians) worry they don’t have much to set aside for their kids. The truth is, even small amounts saved regularly can make a big difference over time.

Why It Matters

Saving teaches kids consistency. Whether it’s $5 a week or spare change rounded up from purchases, kids learn that saving is a habit, not a one-time event. That habit builds confidence and shows them that money adds up faster than they expect.

The Power of Small Steps

Here’s a simple example: If you start saving when your child is 5 and put money away until they turn 18, you’d need about $64 a month to reach $10,000. With interest helping along the way, it could be as little as $46 a month. That’s proof that steady saving—even in small amounts—can lead to big results.

For Alaskan Families: Using the PFD

Each year, Alaska’s Permanent Fund Dividend can be a powerful tool for your child’s future. Even setting aside part of the PFD into a Youth Savings Account or a Savings Builder Certificate can help your child’s money grow year after year.

We know not every family can save the whole dividend—or even any of it some years. Setting aside just part of the PFD, or combining it with smaller deposits during the year, still builds momentum and shows kids the value of consistency.

How to Get Started

• Set up a Youth Savings Account and make small, regular deposits
• Use automatic transfers or round-up features to build savings without thinking about it
• Celebrate progress so kids feel proud of what they’ve saved

Closing

You don’t need large amounts of money to teach kids the importance of saving. What matters most is showing them how consistency and patience can create a foundation for future success.