Southern Cross Credit Union’s Post

MONEY FOR JAM: The subject of pocket money can be difficult to approach - when should you start giving it? Should it be determined by the chores your children contribute to the household? How much should you give? The Conversation discusses the finer points of pocket money and how it can be used as an educational tool to teach your kids how to manage money and savings from an early age: https://bit.ly/3vB6YE2 #MRFL #HereForYou #FamilyLaw

May 15th is “Talk with our kids about money day”. The CFEE choose one day a year to be a day where parents, guardians, teachers & friends are encouraged to talk to kids about money matters. We’ve put together 10 great tips to help you teach your children about money & saving. #money #savings #moneymanagement #FinancialLiteracy #PersonalFinance #MoneyDay

Teaching kids to save money can be done in fun and educational ways. Here are two approaches: Saving Jar or Piggy Bank: Encourage children to have their own saving jar or piggy bank. Allocate a portion of their allowance or any money they receive as gifts to go into the saving jar. Set a savings goal with them, such as saving for a toy or a special outing. Regularly discuss their progress towards their savings goal and celebrate milestones achieved. Rewarding Saving Habits: Introduce a system where you match a portion of what they save. For example, if they save $5, you could contribute an additional $1. Teach them about the concept of interest by offering them a small amount of interest on the money they save over time. Create a savings chart or graph to visually track their progress. Let them see how their money grows over time. Encourage them to save for bigger goals by discussing the value of delayed gratification and how saving now can lead to bigger rewards later. These methods not only teach kids the importance of saving but also instill valuable financial habits that can last a lifetime. Find out more https://lnkd.in/g3_PVmR7 #saving #financialstewardship #life #finances

Did you know that today is National Teach Children to Save Day? As financial professionals, we believe it’s our duty to teach children to save. Developing these habits at a young age creates a foundation for a lifetime of saving. Involving our children with a savings plan and money management skills prepares them for a solid future. #LegendBuffalo #FinancialAdvisor #FinancialServices

Start a savings challenge with your kids! It’s back to school season, a great time to kick off a savings challenge with your kids! Create a fun challenge with a small reward at the end to keep them motivated. How can you do this? Show your kids how to set aside a portion of their allowance or any money they receive for something special (e.g. a new gadget/school supply/fun weekend activity). This teaches the value of saving BUT gets them excited about reaching their goal. Start small and watch them take pride as their savings grow. #Gemma #backtoschool #savingtips #savingschallenge #knowplanact #financialplan #moneymanagement

Dads: You spend years teaching your kids about money. This FathersDay, let's make sure those lessons weren't in vain. We can't guarantee you'll get that allowance back, but we can help with your finances. Happy Father's Day from Brazos Wealth Advisors! ... #FathersDay #DadsDeserveIt #BrazosWealthAdvisors #BrazosFamilyPlan #BrazosWATrustServices #LivingTrust #FortWorthTX #collegefunding #familytrust #generationalwealth

👦👧💰 When's the right time to start teaching kids about budgeting and saving? Right now! 💡 It's never too early to instill smart money habits. 💪✨ At ICCU, parents can kickstart their kid's saving journey with our Treasure Hunt Savings Account, which is complete with special perks! 🏴☠️💼 Learn more at https://lnkd.in/etKuVV6h and empower your little ones for a financially savvy future! #FinancialEducation #SmartSaving #ICCU 🌟💙

A new money conversation & question with 4 follow-up questions! Let's get kids advancing their financial literacy knowledge, skills & habits. Enroll one child or class in Sammy Rabbit's Money School's Free Membership program today! #elementaryschools #parents #homeschools

It's never too early to start teaching kids about the importance of money management and the value of money. Here are a few ways to get the conversations started: 🛒 Let your child help create a list for the next grocery run. Then, show them how to find the best deals and shop smart to save money. 💰 Show kids how to earn money by giving an allowance for doing jobs around the house. Once they earn money, explain the importance of spending and saving responsibly. 📝 Help older kids create a budget. Keep track of money earned, spent and saved each month. ♟️ Make it a game! Sing silly songs about counting coins, make saving a competition or play ice cream store with candy as money. 👉 Help kids maintain good financial habits as they grow up. Offer encouragement and be there to answer questions if they arise. Member FDIC.

"How do I start teaching my kids about finances?" The goal when beginning to teach children about money is to help them understand (1) the value of money and (2) the importance of saving. You’ll want to use simple terms and examples they can relate to. Teaching kids about money will help them develop money management skills and can help them grow into financially responsible adults. Learn more about how you can begin teaching your kids the basics of money at https://lnkd.in/gjH7Ztr6. #moneymanagement #financialliteracy #savings #youngsavers