# Savings Account

## A card that’s not just for spending, but saving, too

### Confidence is key. Watch your kids’ independence grow as they learn money skills firsthand with their very own savings account.

Set them up for success

Acorns Early helps make saving a habit by putting your kid in charge. Kids can use their app to easily set savings goals with target dates and an optional autosave feature.

And of course, you’re there just in case. You can choose to lock in your kids’ saving goals — and unlock them again once they’ve saved enough to buy those sneakers they love.

### Parent-paid interest — it's an Acorns Early thing!

To incentivize your kids, you can add parent-paid interest to your kids’ savings accounts. Use your in-app interest calculator to decide the rate you want to set and adjust it at any time.

### Setting goals and achieving them

Teaching your kids about saving is easier when they’re learning by doing. Kids set saving goals in their Acorns Early app, trackers show their progress, and they see their hard work come to life.

### Full transparency into your child’s account

Get real-time spending notifications and check up on how your kids are progressing towards their savings goals.

[Learn more](https://www.acorns.com/parental-controls/)

### Learning about saving

With easy-to-follow lessons, videos, and quizzes, Money Missions in the Acorns Early app help your kids learn the value of saving money and setting goals.

[Explore Money Missions](https://www.acorns.com/kids-learn/)

## Built into Acorns Early

### Allowance & chores app

Getting kids to do their chores couldn’t be easier. Just set up chores in the Acorns Early app, set a payment amount, and tick the chore off when it’s done!

[Learn more](https://www.acorns.com/allowance-chores/)

### Parental controls

Get peace of mind with real-time notifications when your kids spend, set spending limits, and instantly block lost or stolen cards.

[Learn more](https://www.acorns.com/parental-controls/)

### Financial literacy

Help your kids grow their money skills with bite-sized financial lessons for kids and teens of all ages.

[Learn more](https://www.acorns.com/kids-learn/)

## Pricing

### Acorns Early Lite

Start your kids’ money journey with a smart money app and debit card.

**$8 monthly**

### Acorns Gold

All the expert tools to grow financial wellness — for you and your family.

**$12 monthly**

## Frequently asked

### How do kids and teens set saving goals within the Acorns Early app?

Acorns Early encourages kids and teens to make saving a habit with in-app savings goals.

Using their app, kids and teens can:

- Name their new goal
- Choose an image for their goal
- Set a target amount (if they have one)
- Add a target date (if they have one)
- Turn on an optional weekly autosave

### Can kids and teens withdraw the money they save?

That’s up to you! Parents can lock a savings goal (or your kid’s regular savings) using your Acorns Early parent app.

If you choose not to lock these, your kid can instantly transfer money from any of their savings goals to their debit card.

### Can I lock my kid’s savings?

You can lock any of your kids’ savings goals in your Acorns Early app. This prevents your kid from withdrawing any money from that goal until you choose to unlock it and helps them to create a strong saving habit.

### What is the interest rate?

With Acorns Early, you can set up parent-paid interest on your kid’s account. Simply set your chosen interest rate in the parent app, and your kids will get paid interest on their savings once per month - the more they save, the more they’ll earn. Acorns Early does not pay interest on kids’ savings—this interest is paid out of the parent balance and can be adjusted in-app at any time.

### How can I turn on parent-paid interest in the app?

To turn on parent-paid interest:

- Log in to the Acorns Early parent account
- Open the ‘Money’ tab and select ‘Savings’
- Use the interest calculator to decide the rate you want to set. It will show you how much you might pay each month according to a daily calculation.
- You can adjust the rate in-app at any time

Find out how **[parent-paid interest is calculated here](https://us.support.gohenry.com/us/s/article/How-is-parent-paid-interest-calculated?promo=SWUSA2620).**