The Value of CCCU’s Savings Account in Henderson
Regardless of whether your child is 3 or 13, financial experts agree: as soon as a child is old enough to request something that costs money, he or she is old enough to open a savings account.
Clark County Credit Union makes opening a savings account in Henderson as simple as can be – enabling parents to begin imparting lessons about money, savings and fiscal responsibility.
Expert financial sources
To get you started on this journey, turn to New York Times bestseller, Get A Financial Life. Author Beth Kobliner also spearheaded the U.S. Department of Treasury's Money as You Grow, which offers age-appropriate money lessons for children.
Meanwhile, Prosperity4Kids teaches kids about the importance of saving and budgeting money – “making money fun for kids and easy for parents.” Founder Lori Mackey advocates a 10-10-10-70 system.
"When your child gets their first dollar, we suggest that you teach them to save 10 percent, invest 10 percent, give 10 percent (to charity) and live from 70 percent,” she says.
Opening a savings account in Henderson teems with lessons
Naturally, every family harbors different values about money. Values are inherently personal, so the ones you choose to impart to your children should reflect your own, not anybody else's.
Opening a savings account with CCCU for your child provides a teaching moment - an opportunity to place your values, whatever they happen to be, in the context of action. The life lessons your child could learn from the experience, might include:
- People work hard to make money.
- Everyone has a certain amount of money to work with each month; therefore, budgeting is vital.
- People must make choices about how to spend their money.
- There is a difference between a want and a need – and people must pay for needs before they spend money on wants.
- Sometimes, you may have to wait to purchase something you want (but you may enjoy it more when you do).
- When you open a savings account, it is an investment that earns interest.
- It's important to add to that investment every month.
- Watching that investment grow can be satisfying and downright fun.
Introduce your child to CCCU
Clark County Credit Union is eager to add to that fun. When you stop by and open a savings account in Henderson with only a $50 deposit, we will welcome your child, introduce him or her to our friendly and helpful team and show them how to watch their savings grow.
As far as we're concerned, it's never too soon for a child to learn another important life lesson: CCCU is here to serve as a financial resource for a lifetime.
Call CCCU at 702-228-2228 to get started today.