Life Stages - Childhood

Teaching kids about money can be challenging. But it is important to start kids off on the right track so they will grow into financially savvy adults. Start by:

• Opening a youth savings account such as a Parsons Federal Credit Union Kid's Club Savings Account
• Set up a savings plan for allowance or other money such as cash birthday gifts your child receives
• Explain what interest is, how it works and how it will make his or her savings grow each month
• Set a savings goal for something he or she really wants, such as a new bike, video game or dvd
• Help your child become a smart shopper by teaching them how to comparison shop

For additional helpful tips and ideas on starting your children of on the right track to a successful future click here.