Set Your Children Up for Financial Success

Have you ever looked at your finances and thought, “If only I knew then what I know now”? Maybe instead of scraping for pennies in order to pay for a new washer and dryer, you would have an emergency fund set up so that you would be able to pay cash should the unexpected occur. Perhaps you would be better set for retirement, instead of wondering if you will ever even be able to retire. As parents, we want better for our children. Therefore, teach them money lessons now so that when they are older, they are not sitting back, looking at their checkbook, and thinking, “If only I knew then what I know now.”

Teach Good Money Habits Now

One of the first things you want to teach your children is the importance of a budget. This is where all the money mistakes begin. When people do not have a budget, they have a tendency to spend more than they make. Usually, they also do not have a savings account set aside for a rainy day, not to mention not having a retirement fund. Help your child learn to live within their means now so that they can reap the benefits later.

In addition, teach them about delayed gratification. Just because you “want” something, it doesn’t mean you have to go out and get it right then and there—especially when more important things need to be taken into consideration, such as food, shelter, electricity, etc. We may have a lot of “wants,” but our needs must be taken care of first.

Did you know that we offer a Super Savers Youth Savings Account for all kids ages 17 and younger? All you need is $1! Contact us today to learn more!