Parents
Money Doesn't Grow on Trees
How many of us have heard that expression? Papa even tells Brother and Sister Bear that old figure of speech “You must think money grows on trees!” in The Trouble With Money. You probably remember thinking that your parents could get all the money you needed by visiting the credit union or an ATM when you were a child. It seemed like money just magically appeared.
Here are a few tips to help your children Save, Share, Spend, Earn and learn how money is really earned and managed.
Teach your children that a credit union is a safe place to keep the money that they have earned by opening their first Savings account at an early age. Take them to the credit union so that they can learn what happens to their money once it is deposited. Kids will enjoy and learn from the explanation of how their money grows and stays safe!
Teach the satisfaction of Sharing - Encourage your children to find ways to help others with their money. Let them see the impact of philanthropy at a young age.
Teach them how to Spend wisely - Children need to learn how to make good choices. Teach children how to compare when shopping to find the best deal. And discuss alternative ways to spend their money. Help them to learn the difference between a need and a want.
Earning money can be satisfying for you and your children. Give your children an allowance but allow them to work for their money. This will start them on the path of appreciating that money does not grow on trees! Increase the allowance over time to encourage wise spending and saving habits.
Participating Credit Unions
Check to see if your credit union offers the Cub Club:
Armco Credit Union - Butler, PA
Coastal Community Federal Credit Union - Galveston, TX
Co-op Credit Union - Montevideo, MN
Downey Federal Credit Union - Downey, CA
Embold Credit Union - Oak Grove, OR
Franklin Mint Federal Credit Union - Chadds Ford, PA
Mid-Hudson Valley Federal Credit Union - Kingston, NY
Neighborhood Credit Union - Dallas, TX
O Bee Credit Union - Tumwater, WA
Okaloosa County Teachers Federal Credit Union - Crestview, FL
Peach State Federal Credit Union - Lawrenceville, GA
Providence Federal Credit Union - Milwaukie, OR
RT Federal Credit Union - Rome, NY
Staley Credit Union - Decatur, IL
Synergy Federal Credit Union - San Antonio, TX
VacationLand Federal Credit Union - Sandusky, OH
If your credit union isn’t partnered with The Berenstain Bears Financial Literacy Program, reach out to them and express your interest!
Other Resources
The Council for Economic Education aims to make learning fun with its Family-At-Home Financial Fun Pack. You can download the grade-appropriate pack for your child and get games, activities, and worksheets that you can do together. There are also suggestions for books.
The nonprofit personal finance organization Next Gen Personal Finance also has free online games and activities on topics like investing and budgeting, and the National Endowment for Financial Education has free online courses, learning activities, and quizzes.
