Happy New Year, friends! Do you have any New Year resolutions? The beginning of the year is always a good time to set a savings goal.
A savings goal is the amount of money you plan to save each time you earn money. Some people set a dollar amount each time they are paid, while others may decide to save a percentage of what they earn.
A great way to save money is by using three jars: a SAVE jar, a SPEND jar, and a GIVE jar. Each time I get money, I take 50%, or half, of my earnings and place it in the SAVE jar. I put 40% of my money in the SPEND jar, and the remaining 10% goes into the GIVE jar.
Each month I bring my SAVE jar to Synergy Bank and deposit it into my savings account. I use the money in the SPEND jar to buy fun things like board games and candy. I donate the money in the GIVE jar to organizations that do good things in the community, such as the food bank or an animal rescue.
Can you help Penny determine how much money she should put into each of her three jars?
Penny is ready to take her SAVE jar to Synergy Bank to make a deposit into her savings account. Can you help her find her way?