This is your savings for when you retire. You probably aren’t worrying about it now but please read this article and chart – Teens can become millionaires
The newly enhanced Money Smart Computer-Based Instruction (CBI) is an easy-to-use tool to learn more about basic personal financial management. The CBI features a game-based learning design and separate learning tracks for teens. The teen learning track features the eight modules in the Money Smart for Young Adults curriculum.
If you are 17 or younger, most local banks or credit unions require a trusted adult to open the account with you. Once you turn 18, you can manage the account on your own. Always find out the benefits and fees of any savings account before you open the account.