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Youth Savings

Meaning

Youth savings refers to savings plans or accounts specifically designed for  young individuals to encourage them to start saving early in life.


Example :

For example, a bank account for teenagers that allows them to deposit small  amounts regularly is an example of a youth savings account.


How to Understand : 

Youth savings is an important first step toward developing financial discipline and  responsibility.


Importance :

1.  It helps build early saving habits, teaching the importance of saving money.
2.  Youth savings accounts help young people learn about money management and  budgeting.
3. They support future goals such as paying for education or buying gadgets.
4.   These accounts encourage financial responsibility from a young age, promoting smart financial decisions.

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