Net Bank

Tips to Kids on 
How to Manage Their Holiday Cash

According to recent reports, monetary gifts from grandparents make up 10 percent of a child's spending money, up five percent from a decade ago. As more and more children continue to receive monetary gifts in lieu of toys, clothes and other items, the holiday season has become an opportune time to begin teaching children about personal finance basics and the responsibilities associated with managing their own money. NetBank(R) (Nasdaq: NTBK)(www.netbank.com), the country's first commercially successful Internet bank, has compiled a number of ideas designed to provide children with rewarding ways to use their holiday gift money.

"From budgeting money to learning the value of the dollar, the holiday season provides parents with an opportunity to teach their kids financial responsibility," said Eve McDowell, chief sales & customer fulfillment executive for NetBank. "By using a bit of creativity, it's easy to teach children important monetary habits that will last a lifetime."

NetBank has put together the following suggestions to help parents and their children find practical and worthwhile ways to use holiday gift money:

• Gifts that Keep on Giving - Kids will be amazed to see dollars grow into multiple dollars over time. By placing holiday gift money into a money market account, CD or other savings vehicle, children can see their money grow along with them. As part of the initial investment, have children write short- and long-term savings goals. Review these goals periodically and show children how quickly they can be reached by saving money and not spending it all right away. And remember, it's never too early to start saving for college. Encourage them to begin saving part of their allowance, or wages, each month for their education.

   

• The Gift of Sharing - The holiday season is the perfect time to think of others and this is especially true for children. Work with your child to find a local charity to donate money to or go with your child to the store and have them purchase something whether its a new toy, clothes or even a winter jacket for someone who may be less fortunate.

   

• The ABCs of Banking - There is nothing more gratifying for a child than feeling like an adult. By opening a bank account in your child's name, you can teach them how a bank works and the responsibilities associated with having their own account. A fun way to manage money together is through an online banking account. According to a recent study from the U.S. education department, about 90 percent of young people ages 5 to 17 use computers and 59 percent of them use the Internet.

"A monetary gift is one a child will never outgrow. It gives them the opportunity to make to make responsible and independent decisions," McDowell continued.

Win a trip to NYC and "Free Money"

To kickoff the holiday season, NetBank is also announcing the "NetBank Big Apple, Big Money Sweepstakes." Beginning today, anyone over the age of 18 who visits www.winatnetbank.com will be eligible to win an all expense paid trip for two to New York City. The prize package will include airfare, hotel, a New York Harbour tour, tickets to a Broadway show and $1,000 cash. Entries will be accepted until December 31, 2003, and the winner will be selected from a random drawing scheduled to take place in 2004. During the sweepstakes period, NetBank will be offering special bonus offers to anyone who opens an account - $50 for opening and funding a checking account; $75 for opening and funding a checking and money market account; and $75 for opening and funding a checking and CD account.

ATLANTA, Nov 13, 2003 (BUSINESS WIRE)