Teaching kids about money

We are committed to helping young ones learn about financial literacy and help them to be mindful of money. Children can be exposed early to the idea of sound money habits. Wondering where to start? Here are a few of our favorite money lessons to help you get started:

• Earning Money: This fundamental concept helps them understand the value of money and the effort needed to earn it. Encourage them to earn money by doing house chores or other jobs around the house.

• Setting Savings Goals: Help them plan for things they want to buy, like a new toy or game. A simple piggy bank and writing down how much they have saved versus how much they need will help! They can also open a savings account at the credit union and learn to start banking. 

• Counting Money: Instill money-counting skills using different coins and notes. Depending on their age, introduce them to various payment methods, including cash and mobile payments, explaining how each transaction is completed.

• Charity and Gifts: Encourage them to spend part of their money on charity or buying presents for friends, fostering a sense of generosity and community belonging.

• Delayed Gratification: Teach them the value of hard work and the benefits of saving for something they want rather than making impulse purchases.

By incorporating these money lessons into your child's daily routine, you can pave the way toward their financial success.