2021 Youth Month

April is here and you know what that means – it’s Youth Month at HFS! This year’s theme is “Be a Credit Union Saver & Your Savings Will Never Go Extinct.” We celebrate our keiki throughout the month of April and encourage them to set goals and make saving an important part of managing their own money. Teaching the fundamentals of saving varies for different ages. Parents, take a look below at some tips we put together to help you teach your keiki and teens about saving, spending, and setting goals.

Saving Tips for Keiki

When it comes to younger children, saving can be a tough concept to teach, especially when it involves patience. Here are some helpful tips to talk to your keiki about money:

• Use a piggy bank – as they add money, teach them the different value of coins and bills
• Share how much things cost – take them shopping with you and talk while you shop. Explain the cost of toys and even eating out.
• Setting goals – explain that larger purchases may take time to save for. Have them draw a picture as a reminder.
• Earn their own money – whether it’s an allowance, redeeming recyclables, or saving birthday money, introduce the concept of using the money they earn or collect for spending and saving.
• Start a system – help them divide their earnings into three categories; Give, Save and Spend.
• Visit the Credit Union – bring in loose change, use our coin counting machines, and make a deposit into their Kids Club Account.

Pick one of these tips to get started, and slowly add more concepts over time. You can also add fun activities like word searches and coloring sheets, which we’re providing for Youth Month at any HFS branch or by clicking the links below.

Download Coloring Sheet
Download Word Search
Download Drawing Activity

Saving Tips for Teens

As your child becomes a teen, they may be earning their own money, going out with their friends, and the items they ask for are often more expensive than before. It’s a great time to talk about responsible money management and budgeting. Here are some helpful tips:

• Accessing funds – start your teen off with a Share Card for ATM withdrawals. Once you both are comfortable, they can “graduate” to a Checking Account with a Debit Card
• Tracking spending – use statements or Online and Mobile Banking to make sure they’re never spending more than they have. Start introducing the concept of a budget
• Use Zogo – sometimes your teen may learn better from a source other than their parents. In that case, have them use our Zogo App. It brings financial literacy to their fingertips and offers a chance to earn rewards while they learn. Use the code HFSFCU to get started.
• Heading off to college – as your teen prepares for college, help them plan how they will access their money and responsibly manage it. It is also a great time to introduce the concept of credit. Once they turn 18 those mailed credit card offers start rolling in.

Learn About Zogo
Money can be a tough topic to talk about at any age, but it’s an important one to discuss before your teens enter adulthood and the expenses that come along with it. There are ways to make it fun and we hope you take Youth Month as an opportunity to start talking with your keiki and teens. Need a little more help? We’re always here for you! Let’s boost their money confidence!