Give a Hoot About Saving
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April is National Credit Union Youth Month and along with the National Youth Challenge, Numerica Credit Union wants to help you and your family “Give a Hoot About Saving.”
Help your child to be savings “wise” at any age with these important money lessons.
- Get started learning about money by sorting it into piles by color and size. Once comfortable counting it, start the conversation of how $1 is four quarters, 20 nickels, or 100 pennies. Take a look at this fun Matching Game!
- Learning to wait. Just like you have to wait your turn before playing with a toy, waiting and saving for that big toy is worth it.
- Teach about saving by creating a point system. Redeeming points for things like device time, candy, or a trip to get ice cream!
Ages 5 – 8:
- At the grocery store, teach kids how to comparison shop. For example, show that for every $4,85 box of cereal, there may be a generic brand for much less. Give your child some money and have them choose the best options. Maybe they can keep the savings!
- Have the conversation about needs versus wants.
- Eating out versus eating at home is another great example of where to find savings.
Ages 9 – 12:
- Start tackling the lingo. Interest on a credit card is very different than the interest or dividend you can earn on a savings account.
- Have the conversation about how much things cost. Share receipts and bills that you receive for items or services that you’ve bought for them.
- Whether they are receiving an allowance or earning money, talk about how much to spend, save and share.
Make a qualifying deposit of $10 or more into your Planet M account from April 4 to 29, 2017, and be entered to win an Aquaponics Fish Tank with a Water Planter Top. Visit your favorite Numerica branch today!
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