The new year is a good time to introduce better habits, especially when it comes to money. For kids, even small changes in how they think about saving can have a lasting effect.
Here’s how to help your child build a basic sense of financial responsibility in a way that feels natural and age-appropriate.
Make Saving Part of Everyday Life
Money skills are easier to learn when they’re part of daily routines. Instead of treating saving as a one-time talk, treat it like brushing teeth or packing a lunch. If your child gets an allowance or birthday cash, show them how to set a portion aside. This could be in a labeled envelope, a jar, or a real savings account.
Set a Simple, Clear Goal
Saving is easier when there’s a specific reason behind it. Work with your child to pick something they want to save for like toys, games, or a special trip. Once they’ve chosen something, help them figure out how much it costs and how long it might take to reach that amount.
If they are using a savings account at CTCU, you can log in together and track the balance. The visual progress makes the effort feel more real.
Lead by Example
Kids are always watching. If you put money aside each week, or wait before buying something you want, they’ll notice. Talk through your choices out loud. Mention that you're saving for home repairs or planning ahead for a bill. These quiet moments build their understanding over time.
Let Them Earn and Decide
If your child is old enough, create ways for them to earn a few dollars. This could be extra chores at home, helping a neighbor, or selling something they no longer use. When they earn the money themselves, they’re more likely to think before spending it.
Help them decide what to do with their earnings. Suggest keeping some, spending some, and maybe giving a little too. This simple structure builds good habits early on.
Talk About Money Without Pressure
Children don’t need to know every financial detail, but open conversations help remove confusion. Ask questions like, “What would you do with five dollars?” or “Would you rather buy one big thing or two smaller ones?” These prompts start important discussions without making money feel stressful or off-limits.
How CTCU Supports Young Savers
At Cooperative Teachers Credit Union, we offer accounts that grow with your child.
- Kids Club Savings for ages 12 and under
- REAL Teen Checking for ages 13 to 18, with optional debit access and parental guidance
- Educational tools and activities that make learning part of the experience
Opening an account is simple. Visit coopteachers.com or stop by a branch to get started.