Lessons Learned

When the girls were in elementary school, they enrolled in the School Savings Program that was sponsored by a local bank.   Basically the girls could bring  money to school on a certain day of the week, and deposit them in their own savings account.  This worked really well and the girls each saved a (very small) nest egg. 

Once they graduated from elementary school, they still had access to their accounts, only they had to go directly to the bank to do anything with it.  Despite the fact that  there is a local branch right downtown, we’ve mostly forgotten all about the accounts. (Except when they send the quarterly statements!)

This summer, KT has been working diligently at her first job.  She’s thrilled to be bringing home some pretty hefty paychecks.  I’ve been gently nagging suggesting to KT that she bring her checks to the bank to deposit them. (Usually right after she asks if she can borrow some money!)  Yet for some reason, she never had the time or kept forgetting to do so.

It finally occurred to me that she probably didn’t know how to deposit her hard earned checks as she’s never seen it done.  Shaun and I  do all of our banking online. We  both have direct deposit, I pay all of our bills online and cash is easily obtained at the grocery store.  So I asked her if she would like me to come with her to deposit them.  I had to smile at the huge sigh of relief my girl let out before she casually said that would be ok with her. 

The next day I found myself at the bank, teaching KT what a deposit slip was, how to fill it out and (very importantly) how to get cash back.   When she came to the box asking for her account number, KT whipped out the small laminated card that she had been given way back in first grade.  (I have to admit that I got just a little bit teary-eyed looking at her wonky little signature). 

We ended up talking with the branch manager to find out the options available to a sixteen year old girl.   KT decided that she would transfer her school account into a “real” savings account which would enable her to have more control over her funds and to get her very own ATM card.

I’m pretty sure this is the last time I will be invited to go to the bank iwth KT.  She’s a quick study and I’m sure she will be depositing her checks as soon as she gets them now.

As much as I love to see our baby learn such adult things as banking and taking care of her own money, I can’t help but feel a few twinges of sadness.  Our girl is getting so grown up…she’s stretching her wings and testing them out…preparing to fly on her own.

All I can do is prepare her the best I can.  And save these precious memories in my heart….

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