The best time to start saving is NOW! That’s why we want to start investing in our youth and encouraging them to make smart financial choices. So, for the month of April, ALL youth ages are eligible to earn $25 for their DCTFCU account.
Each age group will be required to complete a short remote learning experience through our Financial Wellness Center for the $25.00 deposit. The age groups are split into 3 groups. 0-5, which is mainly for the parents of children; 6-12, for the young child; and 13-17, lessons for older children. Each age group will be required to read the attached articles and complete questions associated with those articles or courses. Please email the completed questions/assignments to [email protected] with the subject “Youth Month” or text the completed answers with the child’s full name to 270.684.8954. Be sure to include both your name and your child’s (or grandchild’s) name as this is the only way we will be able to know who to apply the monetary credit to. (If you are older with your own email address or phone, please include your full name as well). We will also be sending out an email with this information, direct links and the questions so feel free to respond to that email with your answers if you find that to be easier. The money will only be deposited into the child’s account so if the child does not have an account, you are welcome to open one at any time! In addition to in-person account opening, we offer a fully remote online account opening experience so feel free to text or call us to get the process started. Please be aware that the $25 is only deposited upon completion of the assignments, not just from opening an account. Don’t forget! Anyone under 18 who makes a single deposit of $5.00 or more to their DCTFCU savings account during Youth Month will automatically be placed in the drawing for a cash prize of $50.00! (Automatic transfers will only count if you call in and let us know the transfer happened.) First, all ages will be using the FINANCIAL WELLNESS CENTER. You are welcome to click this link to access the articles or courses or use the direct links attached. Below are details for earning the $25 deposit for each age group:
AGES 0-5 (please include your children if you believe they can comprehend): Email the answers to the following questions along with your name and your child’s (grandchild’s) name.
Access the “3 Jar Allowance for Kids” article here.
- The 3 jar systems is a popular way to begin teaching children how to __________. What are the 3 jars in the 3 jar money system? What is the optional 4th jar?
- The goal of saving is to impart the ________________ and begin _________________.
- Budgeting always involves making _____________.
- When it comes to the actual act of saving, teach that _______________ is key.
- Name 2 examples of short-term savings goals. __________ ___________. If your child is old enough, briefly explain savings goals to them. What would they like to save for?
AGES 6-12: Email the answers to the following questions along with your name and your child’s (grandchild’s) name. These assignments may be slightly more complex than your child’s age. Please help them complete them and allow them to be involved in answering the questions.
Access the “Earning Income” article here.
- The amount of income you earn depends on the _______ and the __________ or __________ skills required.
- Is working for an employer the only way to make money? Yes or No
Access the “Borrowing Money for Youth” coach here.
- The two most common types of borrowing are _______ and ________
- People often use ______ to pay for expensive purchases like a house or a car
- Credit cards have a _____ ______, which is the cap of what you can borrow
AGES 13-17: Email the answers to the following questions along with your name (and your child’s name if they do not have an email address.)
Access the “Understanding and Paying Taxes” article here.
- Governments use taxes to fund _______, ________, and _________ _____________
- Who is required to pay taxes?
- Three types of taxes are ______, ______, and _______
Access the “Individual Retirement Accounts” article here.
- What is ONE major benefit of a traditional IRA?
- What is the limit of what you can contribute to your IRA in a single year?
- What are the two types of IRAs?
PLEASE EMAIL ALL RESPONSES TO THE QUESTIONS FOR THE ARTICLES ABOVE TO [email protected] OR [email protected]