Develop financial literacy skills for your young ones

NZCU News

Develop financial literacy skills for your young ones

This year New Zealand Money Week takes place 3-9 September, with the theme ‘Weather the Storms’ – having the financial resilience to deal with life’s ups and downs through savings, avoidance of bad debt, insurance and wills.

To help you start thinking about Money Week, we’ve put together some information about why it’s important to teach our young ones about financial literacy.

Money Week takes place annually throughout New Zealand with a week of events and activities which are designed to get people talking and thinking about money, because we often don’t.

Financial literacy is an important set of skills we need to have a handle on.

Creating a financially literate community means you and your young ones have the ability to use knowledge and skills to make effective and informed decisions about money.

There are several reasons why it’s important to teach financial literacy:

  • It’s a core life skill for participating in a modern society.
  • It’ll help our little ones discover the relationships between earning, spending and saving and thus knowing the value of money.
  • Helping to develop good financial skills from an early age will ensure they’re ready for the financial challenges of life as an adult.
  • It’ll help our children understand how the economy works.
  • Children will learn how to be responsible with money so that they establish good spending habits.

At NZCU we can help you kick start children’s financial literacy and good savings habits early in life with our KIDS CLUB ACCOUNT.

With the KIDS CLUB ACCOUNT, children can direct credit small amounts from job earnings or make a free transfers of as little as $1 a week from parents’ or grandparents’ NZCU accounts.

Your kids will also be part of our Kids Club when they join. They’ll receive a membership card and other benefits along the way to becoming a good saver.

Benefits of a KIDS CLUB ACCOUNT

  • No fees
  • Earn interest on every dollar saved
  • Free direct credits and transfers

For more information about a KIDS CLUB ACCOUNT click here.