Happy National Credit Union Youth Month!

Happy Youth Month to everyone! Youth month is not just about the kids, it’s about everyone! From tips and tricks to kids’ savings to financial topics at the dinner table, this month benefits everyone.

The Credit Union National Association (CUNA) is hosting the National Credit Union Youth Month to help unleash the power of saving at your credit union! This April, celebrate the spirit of the credit union movement with younger members during NCU Youth Month. During this industry-wide celebration, you can help plant the seeds of financial well-being.

Tips and Tricks for Kids and Money:

  • Open checking accounts for them at early ages.
    • This is a great way to teach your kids the basics of managing money.
  • Pay your kids to read books on personal finance or goal setting.
    • Have your kids’ read books on personal finance or goal setting to help them build their financial literacy. Help them understand it and then reward them for doing so.
  • Talk to them about your own financial goals.
    • Involve your kids in financial discussions by discussing your own goals and plans. This can help them understand the important of setting goals and how to plan for them.
  • Be transparent about the cost of everything.
    • By openly discussing money with your kids, you help them develop a healthy and responsible relationship with money. They’ll be better equipped to make smart financial decisions, manage their own finances and ultimately achieve their financial goals.
  • Teach them how to save, donate, and spend.
    • Encourage them to save and donate a percentage of the money they earn. This kind of disciplined saving, investing, and giving philosophy fosters an abundance mindset and will instill good financial habits.

A few fun facts about Kids and Money:

  • What do kids spend their money on?
    • 34% Clothes
    • 22% Fun
    • 16% Eating out
    • 1% Savings
  • Where do kids get their money?
    • 61% get paid an allowance (average of $780/yr)
    • 48% get paid for good grades (average rate for an A: $16.60)
    • 30% of teens have summer jobs (average minimum wage: $7.20)
  • Did you know that less than 10 states require financial literacy courses within the classroom?
  • Topics of conversation within families:
    • 95% Manners
    • 87% Nutrition
    • 87% School
    • 84% Danger of smoking
    • 76% Money
  • What do parents think is the most important financial advice?
    • 31% Work hard
    • 23% Set money goals
    • 9% Pay yourself first.

For posters and coloring pages visit Credit Union Youth Month (cuna.org)