Junior Savers Week
Today is the start of Junior Savers Week!
Saving can be very hard, even for us adults, but it is important to start teaching children about money and saving from a young age so that they can build good habits.
Here are a few tips and some things to try with your kids (or even just for yourself, after-all, it’s never to late to learn).
Set a savings goal
Ask your child to pick something they want to save for; maybe a trip to the cinema? a new video game? One of the many, many things they have probably circled in the Smyths Christmas catalogue?
Once they have decided, write down how much they need to save to reach their target and put it somewhere they can see it, like on the fridge. And be sure to update it so they can see the progress they are making.
Download our savings chart here and be sure to bring your child along to one of our offices so they can pick up their very own piggy-CU and sticker book.
Wants vs Needs
We often convince ourselves that we really need something when actually it is just a want.
A want is something we can live without and need is something we require to survive.
Ask your child to think about what some of their wants and needs are while filling in this activity sheet.
Show them How
When we are young, we learn by example. The next time you pop in to the Credit Union, explain to them what you are doing and why.
Ask them to guess how much change you will get back.
You could teach them how to fill out a lodgment docket and explain the different numbers on the receipt:
- account number
- opening balance
- closing balance