Learning About Banking (Age 10-12)
During the “tween” years, young people grow out of children’s
games and start to become more autonomous. Your tween will become more interested
in bank accounts, especially on how they can manage their money online. Here
are some resources to help you continue your tween’s financial education.
Accounts
Elevations Credit Union offers a
children’s
savings account through the
Rags to
Riches Club. This savings account has no minimum balance in order to
reinforce the notion of the money being “all theirs” to spend
or save according to their goals. To teach the principle of commiting to
saving for a period of time in exchange for higher earnings, we offer a
children’s
certificate. It’s different than an adult certificate in that you
can add on deposits of $10 or more at anytime during the term.
Online Banking
Before your tween sets up
Link24
Online Banking for his or her credit union account, help them understand
security issues by visiting our
Online Security Center together.
Googolplex
Googolplex’s
AJ’s
Mall is an online resource with stories, blogs and games about money
and other topics for middle school students.
Savvy Shopping
101:
How to Shop for Everyday Savings is a fun, interactive video lesson
that teaches how to distinguish between wants and needs, how to prioritize
purchases, compare prices and weigh options. Earn a free music download when
you finish the video.
Practical Money Skills for Life
This free educational program sponsored by Visa, offers lesson plans for
parents divided into grade levels.
Grades
3 through 6 lessons include Allowance, Behavior and Chores; Saving and
Investing; Accountability; Spending; and Values.
