Youth Savings Accounts are special bank accounts designed for children and teenagers to help them learn about saving money. These accounts often have lower minimum balance requirements and may offer higher interest rates compared to regular accounts. They encourage young people to save for future goals, such as education or a first car. Many banks and credit unions offer Youth Savings Accounts with features like no monthly fees and educational resources. Parents can often open these accounts for their children, allowing them to monitor their savings and teach valuable financial skills. This helps instill good money habits from an early age.