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Some people may hide their money away and store it in their house to save it. This is more of an old tradition but many still do this today!

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These are some helpful tips for saving money!

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If you're saving for short-term goals, consider using these FDIC-insured deposit accounts:

Savings account

Certificate of deposit (CD), which locks in your money for a fixed period of time at a rate that is typically higher than savings accounts

For long-term goals consider:

FDIC-insured individual retirement accounts (IRAs), which are tax-efficient savings accounts

Securities, such as stocks or mutual funds. These investment products are available through investment accounts with a broker-dealer. Remember that securities are not insured by the FDIC, are not deposits or other obligations of a bank and are not guaranteed by a bank. They are subject to investment risks, including the possible loss of your principal.

Tip: You don't have to pick just one account. Look carefully at all of your options and consider things like balance minimums, fees and interest rates so you can choose the mix that will help you best save for your goals.

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How to Save Money - 8 Simple Ways to Start Saving Money

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If you're saving for short-term goals, consider using these FDIC-insured deposit accounts: Savings account Certificate of deposit (CD), which locks in your money for a fixed period of time at a rate that is typically higher than savings accounts For long-term goals consider: FDIC-insured individual retirement accounts (IRAs), which are tax-efficient savings accounts Securities, such as stocks or mutual funds.

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Most of the time people keep money in their wallets for easy access!

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Many people save their money in savings accounts in their bank!

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These are some fun apps we will look at in class!

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A couple of the most overlooked areas of learning in our school systems are "organizing" and "money management." Often these non-academic topics are taught in the home rather than the classroom, and I find so many of my clients are asking for answers. They want answers for teaching their kids the value of money, money management, how to budget and how to save.

I have seven money saving apps for kids to share with you - and you know the best part? By sharing these ideas with your kids, you can experience a financial "touch up" of your own as you prepare for the year ahead. Oh heck, some of them are so easy and fun - you may want to use them yourself!

Start 'Em Young with "Piggybot"

What it does: If your children want to see how much they have amassed in their savings, PiggyBot may be the ticket. Kids use smartphones to create PINs and set up virtual accounts. Using the app, parents can send kids' allowance directly. For motivation, kids can take pictures of things they want. Children choose how to share, spend and save.

What parents should know: This app tracks "virtual money" which parents seem to appreciate especially when they don't have ready cash at the moment. Parents can add money to their child's virtual account as needed via smartphone.

For ages 5+. Available for free on iOS.

What it does: This app keeps track of chores kids need to complete along with related rewards to that chore. Parents can manage chores for all worker bees in one place and can also add rewards or punishments along the way. To reinforce the savings concept, children monitor their spending and saving.

What parents should know: it's best for parents to use their own email and password to set up an account thereby syncing all the devices with greater ease. For tighter control, make sure only the parent holds the passcode so disgruntled siblings can't reassign or remove chores.

Free version available on iOS and Android. Full version $2.99.

Avoid the Spending Spree by Using "Savings Spree"

What it does: Some kids may want to start their own business or envision an expensive purchase. If your child is a big thinker, you may want to connect them to Savings Spree. Your kids will learn the importance of creating an emergency fund while testing their knowledge around money.

What parents should know: Savings Spree has an educational experience built into the game show where the object is to save money for a nest egg. Your children can learn (and earn) about accumulating both big sums of cash or saving in small chunks over time.

Ages 7+. Available for $5.99 on iOS.

Teach Your Children to Save Money for a Cause "Unleash the Loot!"

What it does: What a concept. Select an animal from the endangered species list, then do some virtual chores and kids can earn (and save) moolah. Your child can decide how to divvy up their money among three different accounts: spending, saving, and charity. Once they have saved enough money in the bank, kids can "buy" virtual items to take care of their endangered animal.

What parents should know: Parents can connect with their budding philanthropists via email while their kids are using the app. This gives parents an option to offer guiding advice.

Ages 5-8. Available for free download for iOS.

Teach Your Kids to Become Smart Spenders and Savers with "Bankaroo"

What it does: Whether a parent chooses to schedule allowances, start a "matching campaign" for their kids' savings, or make other virtual gifts, this make-believe bank trains children to follow their money moves. Kids deduct any cash they spend and develop their goal-setting skills for future saving.

What parents should know: Just think - kids are learning how to manage their bank accounts online - something we didn't learn until we were adults.

For ages 5-13. Available for free download on iOS and Android.

If You Want to Be Involved in Your Kids' Money Decisions Consider "Tykoon"

What it does: Tykoon helps kids develop healthy saving habits. With their child in mind, parents design a task list and determine the child's prize for task completion. The reward can be anything from having friends over to staying up late one evening. This app also lets children donate a portion of their earnings to a charity.

What parents should know: Though the name sounds grown up, Tykoon is a tool aimed directly at children. To observe your son or daughter's spending behavior, the app even provides a list of child-safe products that your children can save up for and order online.

For ages 5+. Available for free download on iOS.

If You Want to Educate Your Kids try "Rich Kid Smart Kid" Website

What it does: This cartoon was developed by the Rich Dad Company and devotes itself to developing kids' education around finances - not just spending and saving - but understanding profits, debt, entrepreneurial adventures, and how to pay yourself first. The cartoons are divided into four different age appropriate categories.

What parents should know: Using games to teach challenging subjects like finance, business and investing, this website aims to train young, upcoming business owners and creative thinkers. Rich Kid Smart Kid is a youth initiative - seeking to increase financial literacy of the next generation of future entrepreneurs.

Grades K-12. Available via website.

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A couple of the most overlooked areas of learning in our school systems are "organizing" and "money management." Often these non-academic topics are taught in the home rather than the classroom, and I find so many of my clients are asking for answers.

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Help prepare children for their futures. Many adults put their money in savings accounts as well.

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Child Savings Accounts - A Savings Account for Kids

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Child savings accounts help prepare children for their bright future. Learn more about savings accounts for kids.

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A great place for young savers to keep their money!

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Money that is considered savings is often put into an interest-earning account where the risk of losing your deposit is very low. Although you may be able to reap larger returns with higher-risk investments, such as stocks, the idea behind savings is to allow the money to grow slowly with little or no associated risk. Online banking has expanded the variety and accessibility of savings accounts. Here are some of the different types of accounts so you can make the most of your savings.

Savings accounts are offered by banks and credit unions (a cooperative financial institution that is created, owned and managed by its members - often employees at a particular company or members of a trade or work association). The money in a savings account is insured by the Federal Deposit Insurance Corporation (FDIC) up to certain limits. Restrictions may apply to savings accounts; for example, a service fee may be charged if more than the permitted number of monthly transactions occurs.

Money in a savings account typically cannot be withdrawn through check-writing and occasionally, not at an ATM. Interest rates for savings accounts are characteristically low; however, online banking does provide slightly higher-yielding savings accounts.

High-yield bank accounts are a type of savings account, complete with FDIC protection, which earn a higher interest rate than a standard savings account. The reason that it earns more money is that it usually requires a larger initial deposit, and access to the account is limited. Many banks offer this type of account to valued customers who already have other accounts with the bank. Online high-yield bank accounts are available, but you will need to set up transfers from another bank to deposit or withdraw funds from the online bank.

Certificates of Deposit (CDs) are available through most banks and credit unions. Like savings accounts, CDs are FDIC-insured, but they generally offer a higher interest rate, especially with larger and/or longer deposits. The catch with a CD is that you will have to keep the money in the CD for a specified amount of time; otherwise, a penalty, such as losing three months' interest, will be assessed.

Popular CD maturity periods are 6-month, 1-year and 5-year. Any earned interest can be added to the CD if and when the CD matures and is renewed. (A CD ladder allows you to stagger your investments and take advantage of higher interest rates.)

A money market fund is a type of mutual fund that invests only in low-risk securities. As a result, money market funds are considered one of the lowest risk types of funds. Money market funds typically provide a return similar to short-term interest rates. Money market funds are not FDIC-insured and are regulated by the Securities and Exchange Commission's (SEC) Investment Company Act of 1940. However, money market funds at a credit union are insured through the National Credit Union Agency.

Mutual funds, brokerage firms and many banks offer money market funds. Interest rates are not guaranteed so a bit of research can help find a money market fund that has a history of good performance.

Money market deposit accounts are offered by banks, and typically require a minimum initial deposit and balance, with a limited number of monthly transactions. Unlike money market funds, money market deposit accounts are FDIC-insured. Penalties may be assessed if the required minimum balance is not maintained, or if the maximum number of monthly transactions is surpassed. The accounts typically offer lower interest rates than certificates of deposit, but the cash is more accessible.

U.S. government bills or notes, often referred to as treasuries, are backed by the full faith and credit of the U.S. government, making them one of the safest investments in the world. Treasuries are exempt from state and local taxes, and are available in different maturity lengths. Bills are sold at a discount; when the bill matures, it will be worth its full face value. The difference between the purchase price and the face value is the interest. For example, a $1,000 bill might be purchased for $990; at maturity, it will be worth the full $1,000.

Treasury notes, on the other hand, are issued with maturities of 2, 3, 5, 7 and 10 years, and earn a fixed-rate of interest every six months. In addition to interest, if purchased at a discount, T-notes can be cashed in for the face value at maturity. Both Treasury bills and notes are available at a minimum purchase of $100.

A bond is a low-risk debt investment, similar to an IOU, which is issued by companies, municipalities, states and governments to fund projects. When you purchase a bond, you are lending money to one of these entities (known as the issuer). In exchange for the "loan," the bond issuer pays interest for the life of the bond, and returns the face value of the bond at maturity. Bonds are issued for a specific period at a fixed interest rate.

Each of these bond types involves varying degrees of risk, as well as returns and maturity periods. In addition, penalties may be assessed for early withdrawal, commissions may be required, and depending on the type of bond, may carry additional risk, as with corporate bonds where a company could go bankrupt.

Savings allow you to squirrel away money while earning modest, low-risk returns. Due to the large variety of savings vehicles, a little research can go a long way in determining which will work hardest for you. And, since interest rates are constantly changing, it is important to do your homework before committing your money to a particular savings account so you can make the most of your savings.

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Money that is considered savings is often put into an interest-earning account where the risk of losing your deposit is very low. Although you may be able to reap larger returns with higher-risk investments, such as stocks, the idea behind savings is to allow the money to grow slowly with little or no associated risk.