April is CUNA National Credit Union Youth Month
April 2, 2021
April is National Credit Union Youth Month. The theme this year is, “Be a credit union saver and your savings will never go extinct.” This is the perfect time to talk to your kids about money. The sooner the better! The perfect time to have these discussions is at the dinner table. Meaningful conversations often happen at this time when there are no distractions such as phones, tablets, or games. Talking to your kids about money can help put them on a responsible path for financial wellness in their adult life.
Never too Young
Kids of all ages need to learn the importance of making good financial decisions. The conversation can begin with money received as gifts. Use this opportunity to talk about the decision making process of, spending, saving and sharing. Continue the conversation as they earn money by doing chores or small jobs. Do they have a specific NEED that should be fulfilled before their WANTS? Do they have a long term savings goal for purchasing a rather expensive item? Do they have a charity which they would like to donate some money? Do they know the concept of “Pay yourself first?” so that they can set aside a certain amount for savings? Talking to kids at an early age about money decisions is a green idea!!!!
Learning at Home
Do you want your kids to learn about money from advertisers? I don’t think so. As your kids get older, discuss more financial education topics such as debt, credit, loans, interest, compound interest, etc. Think about how important money management is as an adult and how important it can be to give your kids a head start on a great financial path.
Free Financial Videos
To join in on the virtual world, TVFCU purchased 16 financial education videos with corresponding lesson plans from Biz Kids and housed them on our website for anyone to access. This is a great way to introduce your kids to many financial education topics. You can find these entertaining videos at https://www.tvfcu.com/bizkidsportal.
April Financial Showers
TVFCU has many great accounts to look into beginning with a TVFCU Youth Savings Account. https://www.tvfcu.com/personal/personal-savings/youth-savings-accounts.html
Don’t wait to help your child or grandchild get started on the path to financial success.