Teach Your Kids About Money Management

1. Start Young.
   It’s never too early to introduce the concepts of earning, spending, saving and investing to your child. Help them appreciate the value of money by relating it to topics they can understand at their age. Young children can learn playing with fake money; older children will feel empowered by earning an allowance.


2. Plan a Visit to Your Bank.
   Bring your child with you to one of our branches to learn about managing money. Your child can meet our team, ask questions and get a better understanding of what banks do.


3. Set Goals.
   Talk to your child about setting savings goals. Start small with short-term goals (setting money aside for a new game or cell phone) and set larger goals as they get older (saving for a new car).


4. Establish a Budget.
   Keeping track of expenses is the first step in managing a budget. Help your child set up a chart, spreadsheet or use an online tool. Our Internet Banking features our Money Management tool, which makes managing budgets simple! Having your child take ownership of expenses (cell phone or car insurance bill, for instance) is a great way to help them understand how to establish a monthly budget.


5. Open Their First Account.
   A first bank account, much like a first job, is a rite of passage for teens. When your child is ready to move beyond the piggy bank, guide them through the process. Our Student Checking account is designed just for teens and young adults. It comes with many great features to make banking easy and accessible on the go.