Introduce your child (up to age 18) to First United Credit Union. There’s never a been a better time to teach your kids how to share, spend, and save at your credit union. We offer our Savings Sailors Account for kids age 12 and under, and, for teens, our innovative eSavers Club. Both offer savings incentives with the option of kids opening their own CD.
Home With Kids Right Now?
If you’re homeschooling during this pandemic, it is an excellent time to incorporate financial literacy skills into your studies. Consider these ideas based on age:
Work on money facts and the concept of trading. Teach children to identify different coins and bills, where money comes from, and how to make choices with the amount they have to spend.
Kids ages 6 to 8
Focus on money skills such as setting a monthly saving goal, managing an allowance, and depositing money into a savings account. They can also learn how to make change and estimate the total of several purchases.
Kids ages 9 to 12
Work on smart money habits such as comparison shopping and understanding how a checking account works. Have them set up a weekly spending plan and money diary to help budget their allowance and learn goal setting.
Teens can help research a major family purchase online or create a personal budget for things like electronics and clothing. Get them involved in learning other lifelong skills such as managing credit, how credit cards work, and why maintaining a strong credit score is important.
Open your child’s account online.
If your child is not a member, it’s perfect timing to open their account – which can be completed online. Visit www.FirstUnitedCU.org to get started.