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Teach Your Children to Be Wise Money Managers
At White House Federal Credit Union, we value members of all ages. We want to partner with you to create a better financial future for your children or grandchildren. Teaching children about money can be difficult, but it pays off. By positioning your children for financial success when they are young, you can help them avoid problems in the future. And we want to help you do that.
Working Together
There are many ways you can help encourage your children to be good money managers. Here are just a few ideas:
- Start an allowance. Set an amount that is reasonable for your family, and ask that your child divide the money into three portions – some for saving, some for giving to charity and some to spend.
- Communicate. When you shop with your child, start a conversation about what you are buying and how that reflects your family's spending priorities. Don't be afraid to say "no" if your child wants something you can't afford.
- Be a good role model. Children look up to their parents. If they see you managing your money well, they will try to follow your example.
Always Here to Help
White House Federal Credit Union is here to help you raise financially responsible children. Opening a Young Savers Account or Regular Share Account at the Credit Union for your child can help him or her learn how money earns dividends that increase an account balance. For more information about our savings accounts, visit our website or call us today.