When’s the best age to start learning how to manage your money? Right now! UCCU’s BeMoneySmart program will teach you how to make the most out of your money no matter how old – or young – you are. Since its initial launch in 2005, UCCU’s BeMoneySmart Youth Banking program has helped thousands of kids and teenagers develop wise money management skills and habits. At UCCU, our goal is to teach children disciplined saving and modest spending habits and also to help parents know how to best teach their children about money.
Utah Community Credit Union designed the BeMoneySmart program with parents and children in mind. Our BeMoneySmart Roadmap is a fun way for kids of all ages to learn the importance of financial responsibility. This fun and interactive Roadmap allows children (and parents) to follow and track progress toward financial responsibility. The Roadmap is designed especially for children to learn and understand how they can take responsibility for their finances early in their lives. See the Roadmap and other financial tips for kids at bemoneysmart.org.
For you as a parent, we’ve put together several MoneySmart Tips that complement our BeMoneySmart youth banking program. When parents use the MoneySmart tips, and children use the BeMoneySmart banking tools found on the Roadmap, you’ll both have all the resources necessary to foster an environment of financial learning in your home.
These tips for parents are valuable in guiding how and when to teach your children about financial responsibility. An example of those of these tips is: “Do you owe your kids a little money for babysitting or chores? Avoid the temptation to pay them with cash! With cash, there’s just no way to track where your child spends every dollar. Instead, use online banking to simply transfer the money directly into their account.” More tips like these are available for parents to peruse at bemoneysmart.org.
Don’t wait until your child is out of the house to teach them how to be financially responsible; teach them from a young age to BeMoneySmart!