April is National Credit Union Youth Month

March is National Credit Education Month                                                                                       

As the month of April is winding down, so is National Credit Union Youth Month.

If you have not had a chance to talk to your child about the importance of saving money, there is no time like the present. An easy way to start this conversation is to have your child think about a goal they would like to save for. It could be something small like a new toy or as big as a video gaming system. Here are some easy tips to start a financial conversation with your child:

• Talk about something tangible they want and take a picture of the object. Hang the picture somewhere your child can see to serve as an everyday reminder of what they want.
• Create a chore chart so your child can start earning money.
• Discuss a simple budget and how to stick to it. It will take time, but this will help to establish good saving habits.
• Place a piggy bank or special jar where your child can see it. When the jar is filled, bring the money to the credit union to make a deposit.
• Sharing goals with your family is a great way to help your child see the value of having support system. They can become your cheerleaders and encourage your child to save and reach their goal.

Encouraging and talking with your kid(s) will help them be more aware of the financial decisions they make now and later in life. Be sure to include in your discussion the difference between wants vs. needs. This topic can help your child in their goal setting process. We are here to guide and encourage youth financial literacy. For more information follow us on social media as well as our website.