The numbers show that kids who never educated about money and finances end up in some bad spots as adults. They don’t know how to invest, they can’t save enough money to buy a home, and often have very poor credit scores. All of these lead to deeper problems.
That’s why we’re celebrating National Credit Union Youth Month by barking loudly about our Dollar Dog Youth Account. It’s more than a place for kids to stash their allowance. It’s the necessary start kids need to learn good financial habits that will be beneficial as they grow up.
Here are some of the other benefits your kids will enjoy from a Dollar Dog Youth Account from Palmetto First:
- It helps kids understand the value of money. When they understand the value of money, they will be able to handle their finances in a better way once they get into the real world. They will understand the importance of budgeting, saving, and avoid unnecessary expenditures.
- Financial literacy will keep them from depending on predatory lenders. When the car breaks down or an emergency expense appears, having a savings account to fall back on is important!