Making good financial decisions and learning to manage money isn’t always easy, but TruStone Financial believes it’s never too early to discover the importance of saving. This month, we are celebrating National Credit Union Youth Month by matching the opening deposit on any new MoneyWise Primary Share account up to $10!* So, use these easy tricks to teach your child learn valuable money lessons.
SET SAVINGS GOALS | If there is a goal, such as a brand new bike, your child may be more likely to stick to a savings plan. Once they realize that saving money is rewarding they will continue to save in order to reach their goals.
MAKE SAVING FUN | Spruce up that piggy bank or decorate a mason jar with your child to place their extra pennies. Once the pennies add up, stop by your local branch and use our Coin Machine to turn that spare change into cash for their savings account.
SAVE FIRST, NOT LAST | Clarify that there are only two choices with money – save or spend. It’s important for your child to learn that while they could spend their allowance on pizza it will mean their dream of a new bike just got farther away.
SET AN EXAMPLE | Remember that their eyes are watching you so if you set a healthy example of money management; they’ll be much more likely to follow it as they get older.
ADD RESPONSIBILITY | Adding the responsibility of a MoneyWise Primary Share account begins your child’s relationship with your neighborhood credit union, making the financial education process easier and more rewarding down the road.
Stop by your nearest branch to open a MoneyWise Primary Share account today.
Editor’s note: Segments of this article were taken from parents.com, forbes.com, and daveramsey.com.