Navigator Credit Union: Teaching Financial Literacy
MOBILE, Ala. (WALA) - April is National Credit Union Youth Month and National Financial Literacy Month. It’s the perfect time to plant the seeds of financial responsibility in our children. Navigator Credit Union has some simple ways you can let your kids in on the conversation.
Why is financial literacy important?
A study found adult money habits form by age 7, and around 57% of parents regret not discussing money earlier. Teaching financial literacy at a young age builds a foundation for a secure future. It can help with establishing good money habits, building confidence in managing finances, debt awareness plus much more.
Getting Children Involved
It can be hard to know where to start teaching your family about financial literacy. Luckily, you’re making financial decisions every day – you simply need to let your kids in on the conversation. Here are some ways to get started.
- Make it Fun: Use games, apps or age-appropriate books to explain financial concepts. Role-play real-life scenarios like grocery shopping or budgeting for a movie night.
- Lead by Example: Kids learn best by observing. Talk openly about your own financial decisions, both successes and challenges. Involve them in making budget-conscious choices, like comparing prices or planning meals at home.
- Start Small: Introduce them to the concept of saving with a piggy bank or a savings account at Navigator. Encourage them to set small, achievable goals and celebrate their progress.
- Piggyback on Everyday Experiences: Turn everyday chores into financial lessons. Let them “pay” for privileges with earned allowances or help them track their spending at the store.
Financial literacy is a life-long journey, and April is the perfect time to take the first step!
About Navigator Credit Union Navigator Credit Union is a not-for-profit credit union, here for Members, not Wall Street investors. That means the Credit Union can provide a full range of financial products and services, with better rates, fewer fees and more flexibility than most banks, including free checking, home loans, auto loans and credit cards. Navigator has 11 full-service Branches from Gulfport, Miss., to Daphne, Ala., and is committed to providing the strength, stability and financial resources Members need – no matter what happens on life’s journey. Visit navigatorcu.org to learn more or apply for membership!
Teaching Financial Literacy
Make it Fun
Lead by Example Start Small
Piggyback on Everyday Experience
Navigator Credit Union
Daphne, Ala to Gulfport, Miss
800-344-3281
Copyright 2024 WALA. All rights reserved.
