Are your kids on the right track to financial independence?
Achieving economic prosperity takes good money skills, and it’s especially hard for young people who’ve never learned how to manage money. According to Next Gen Personal Finance, 76% of millennials lack basic financial knowledge and only 16.4% of high school students nationwide are required to take a personal finance course.
Your credit union is ideally positioned to respond because we believe in the power of education. We’re here to help you launch your children toward financial independence, and here’s how:
Join. For starters, open a credit union savings account for each child in your family. As soon as your children can write, have them fill out deposit and withdrawal slips. Guide teenagers through using a debit card and tracking transactions.
Share. Include your children in household money discussions. Show them how you budget income and expenses. As their skills improve, give them challenges—such as finding a better cell phone plan, calculating the total monthly cost of owning a car, or sticking to a budget for back-to-school or holiday spending.
Coach. Remind your children to ask for help when they need it. And turn to your credit union when you want help. Our tradition of service and philosophy of self-help make Heritage Valley FCU and all credit unions a natural partner in pursuing financial security.
We’re here to help. For more information, contact 717-840-4981
Copyright 2019 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.