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Healthy Money Habits to Teach Kids

Healthy Money Habits to Teach Kids

by | Apr 3, 2024 | EmberNote Blog | 0 comments

Did you know that in April the Credit Union celebrates Youth Month? We dedicate this month to educating, celebrating, and empowering our members ages 18 and under! This year’s activities include a coloring contest for 12 and under as well as a Zogo competition for members 18 and under. In addition to the two contests, we will also be handing out solar eclipse glasses to our members ages 18 and under if they stop in to visit us between 4/1/24 – 4/8/24! We also thought we would share some healthy money habits to teach kids during Youth Month,

Habits for Kids Ages 3-5

We usually recommend for children ages 3 to 5 that they start to learn about the concepts of earning, saving, planning, and shopping. This means having discussions about what it means to save money, having them assist with weekly grocery shopping, and describing what it means to earn money as an adult. This is a great time to implement activities about saving money, such as this piggy bank puzzle.

Habits for Kids Ages 6-12

For children between the ages of 6 and 12, we suggest introducing the idea of earning an allowance, comparing prices while shopping, borrowing money, and protecting your funds. Now would be a perfect time to introduce them to your Credit Union in person! Show them what it means to compare interest rates on savings accounts and have them open their first account if they haven’t already.

Habits for Teenagers

For teenagers, it is quite common that they get their first job and start earning money. They learn about taxes, saving money, and earning income on a consistent basis. Teenagers are also exploring planning for larger future purchases, such as vehicles, higher education, and other life goals. The conversation surrounding planning and borrowing becomes more relevant in these years.

Some resources for healthy money habits to teach kids include: