Teaching Children How to Save Money:

1. Teach Money Choice – Give, Save, Spend and Invest.
There are four choices for money: Give, Save, Spend and Invest. Create or buy a bank that has all four choices visible to remind your child each time they have money available to deposit to stop and think about their choices. This will teach them that there is more to do with money than just spend.

2. Teach your child to set goals for each money choice.
Saving without a goal is like a football game without a touchdown. No fun at all. And, if it's not fun, kids will not play. So, when working with money choices, make sure your child draws a picture of what they are working towards so they remember their goal and stay motivated.

3. Remind them to save and pay themselves first.
Teach your child that after they tithe to "pay themselves before spending" by asking them to make a deposit in their savings account whenever they receive any money. Assure them that not all of the money they receive as a gift needs to be squirreled away in savings, just some of the money. Paying themselves first as a child will translate to a working adult that has a certain percentage of their paycheck swept into an investment vehicle before they even get paid.

4. Start allowance and pay only in cold hard cash to teach them to live beneath their means.
Set up an allowance that covers some expenses you cover for your child today. Let them manage that money and learn what it feels like to only have so much cash and when it's gone, it's gone. Allowance is the first step towards leaning how to budget.

5. Model the money behavior you want to see in your child.
Children may not listen to what we say, but they sure do watch us and mimic our behaviors. Instinctively, children understand that our behavior is more genuine than our words. Knowing this, only model what you want your children to absorb. Pay bills on time, use cash whenever you can, credit rarely, and take your kids with you to make savings deposits.

Features included in the Cliff Kids Club Account include:

• For Kids 16 and under
• $25 minimum deposit to open account
• No monthly service charges
• FREE Cliff Kids Club Newsletter
• Receive a prize when you make a deposit
• Dividends are paid monthly when daily balance remains $100 or more
• Limited withdrawals
• Certificates will renew automatically and you have a seven (7) calendar day grace period to withdraw funds or change terms.

For more information on how to join the Kids Club, please call or stop by the credit union.