how 2 tlk 2 urkdz bout $

Banks vs. CU

What’s the differenceAt Credit Unions…Everyone is an OwnerWe Share our profitsWe Care about the communityCredit Union PhilosophyPeople helping people

The Child’s Brain

Your kids’ perceptionSlide your plastic cardBuy something Didn’t spend a dimeWrite a checkIt’s like an IOU

3 Important pointsThey are learning from youTeaching about money is as important as other topicsPositive Money Management is important

Different Age Groups2-56-1011-1516-18

2-5 years old

Two - Five Years OldMay not understand money yetGive them $1 at the storeTalk about realityProducts advertised vs. reality Fast Food (Whopper)

Two - Five Years OldSavings AccountSet the exampleTeach kids to save 50%Piggy BanksDollar Dog SavingsEvery $5 Saved = 1 Dollar Dog DollarBuy things with Dollar Dog Dollars

6-10 years old64% say that getting rich is their most important goalHow can you help them?

Six – 10 Years OldGive Kids an AllowanceAllow them to manage itSet Short term goals (1-3 months)Match money saved for larger things

Six – 10 Years OldExpect detailed questionsListen to the meaning of the questionUse real life situations to teachCoupon clipping, allow your child to keep the savingsSet spending limitsShoes, jeans, and let child save for the rest.

11-15 years old

11 – 15 Years OldNegotiate an allowanceIn writingPT Job, Small businessSave MoreBe a role model

16-18 years old

16 – 18 Years OldAllow money mistakes Checking accountBuild a budget together

Advice for parents

Advice for ParentsDon’t touch the kid’s moneyBorrowing, or taking, will teach kidsWatch how you talk about moneyBe PositiveBe PatientDon’t criticize your child's choice or mistakes.Don’t exaggerate“If daddy loses his job, we’ll lose our house…

Advice for ParentsBe unifiedDecide, and follow throughDon’t reward with cashExtrinsic rewards only last as long as the rewardMoney doesn't buy happinessAfter a traumatic experience, don’t buy the world

When the times get tough…Don’t try to hide itStop spendingGet yourself some helpAsk a professional to help, you will have less stressThink about the childrenHomemade instead of Pizza deliveryCanceling ballet lessonsGive the children choices

?QUESTIONS