National Credit Union Youth Week has arrived! This week is all about encouraging youth to be proactive about their financial futures. It’s important to start good budgeting and savings habits early. A kid’s first savings account is an important first step in learning to be a financially responsible adult.
With that being said, make sure to bring your children down to any Connex branch this week for some financial fun! We have exciting giveaways that will encourage your kids to take hold of their financial futures in a responsible way. Challenge yourself to save with your kids, and encourage them to open a savings account that they can take pride in and watch accumulate as they grow up – I can guarantee both of you will appreciate it down the road!
It’s never too early to start teaching today’s youth about financial literacy. Before long, they will be the ones purchasing cars, applying for loans, buying homes, etc. Let us help you initiate this important conversation with them and get them into healthy habits today! Here is a tip that you can share with your kids to help them become smart savers:
– Save the dollars! When you have loose one dollar bills in your possession, it becomes tempting to spend it on random and often unnecessary things. Speaking from experience, as a young girl I would often save any dollar bill that came into my possession in a large envelope. By the time a few months passed, I had accumulated a great deal of cash, and soon deposited it into my savings account. This method can also be tailored to coins! Have your children save coins that they earn and/or find. They can even have a different piggy bank for different uses! (Savings, Spending, etc).
What are your savings tips for kids? – Jaslyn Scribner, VP of Unbanking