Financial Friday: Why it’s important to teach young people about money

Why it’s important to teach young people about money

HUNTSVILLE, Ala. (WAFF) - April at most financial institutions is a time to celebrate youth financial education. Anytime is a good time to teach young people about money.

Every April, Redstone promotes special activities and its Star Club youth account. RFCU tries to make savings fun and exciting for youth.

LeJuan George, the Senior Business Development Officer at Redstone Federal Credit Unions offers this advice when talking to your children about money.

  • They will be adults someday - prepare them now
  • So they can understand the benefits of saving for an important purchase, such as a car or senior trip
  • To help them learn how to spend wisely - Examples: You can’t eat fast food every day and save money. Can you really afford those trendy shoes and the latest tech gadgets?
  • Let them experience the beauty of sharing with others - when you share with others, you both win.

Bottom Line: Parents should Show and Tell. Let your children see you following these good money habits.

Check out Redstone’s website for more money tips. For more ways to save be sure to tune in at noon every Friday for WAFF 48′s “Financial Friday” segment.

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