This series is sponsored by First Alliance Credit Union
This week, we’re learning all about Sharing. What is it? How do you do it? Once you’ve watched the video, fill out the worksheet! Don’t forget to submit your worksheet each week (for Saving, Spending, and Sharing) in order to win an awesome Nintendo Switch!
Save, Spend, Share: A Virtual Skill-Building Event for Kids (& parents)
April is Youth Literacy Awareness month. First Alliance Credit Union is committed to helping parents and children learn the value of financial literacy. When children learn financial literacy, it provides a tangible advantage that will last their entire lives. Financial literacy has shown to help kids save more, be more likely to set financial goals, stop overspending, avoid bad debt, and more.
During the month of April, please join First Alliance Credit Union and Rochester Mom for Save, Spend, Share: A Virtual Skill-Building Event for Kids (& parents). The important concepts of saving, spending, and sharing will be outlined in fun, easy-to-understand videos. Additionally, there is a parent guidebook to help you further guide the conversation with your child.
Each Wednesday in April, look for the latest video in the Save, Spend, Share series. Each video will be published on Rochester Mom and shared through social media channels and the e-newsletter.
Here are videos #1 (Saving) and #2 (Spending) in the series!
Enter to Win!
Encourage your child to watch the video and complete the worksheet each week. Children who complete each worksheet and submit all three worksheets via the form below will be entered to win a Nintendo Switch at the conclusion of the series at the end of April. Parents, we didn’t forget about you! You’ll be entered to win a $200 prize pack from First Alliance Credit Union which includes gift cards to Moka, Great Harvest Bread, Ichi Tokyo, and Whistle Binkies Olde World Pub.
If you bring your child to open up a youth savings account at First Alliance Credit Union during the month of April, you’ll DOUBLE your chance of winning the prizes listed above with three extra entries. And there’s more! Children who open up a savings account in April will receive a FREE piggy bank (while supplies last)!
Please note: you may also pick up blank worksheets and drop off completed worksheets at any First Alliance Credit Union’s branch locations.
The Importance of Learning to Share
While you want your children to be financially successful, you also want them to be kind. However, kindness doesn’t just happen. Instead, it needs to be taught and encouraged throughout a child’s life, starting from a young age.
While you can teach children to share their toys and talk about what kindness is, you can also teach them how to be kind by donating time and money to causes they care about. Getting your children to set aside 5% of their money to share it is a great way to start building a sense of compassion and empathy in children.
The best way to start talking with your children about sharing is to talk about things that are important to them. Find out if they care about helping animals, or if they’re worried about their neighbors going hungry or losing their homes.
Once you know what your children are passionate about, you can help them find local charities that support those passions. Then, every few months, take the 5% you’ve saved and either donate it directly to their cause or find out what supplies the charity needs most and help your child shop for those items and deliver them to the charity together.
As an example, if your child is getting a $20 allowance, putting aside 5% of that a month would be $4. After six months, your child will have $24 saved up, which is enough to buy some canned food for a food pantry, a bag of dog food for an animal shelter, or even a nice blanket for a homeless shelter. This not only helps out worthy charities—but it also lets your children visualize the difference their money can make when they buy something tangible for a charity, which is very empowering.
If you really want your children to get into the habit of sharing, though, you should model the behavior yourself. Let your kids know what charities you support and why. You can also share stories with your children about other kids in the community who are performing acts of service with your children.
You should also know that you can still help your children get into the habit of sharing even if they don’t get a regular allowance. You can encourage your children to hold a fundraiser, take a tour of local non-profits or even volunteer your time together at a charity you all agree is important.
In order to help your child get in the habit of sharing, help them complete the activity worksheet we provide after they have watched the “What is Sharing Money” video on this page. Remember that you have to turn in this page in order to enter the prize drawing!
We’ve also included Save, Share, and Spend labels in your course packet to help your children keep their money separated into these categories until it’s time to use the money for its intended purpose. You can print out these labels as many times as you need.
Don’t forget that you can also find 10 bonus tips about teaching your kids money skills in your free Parent Guidebook, as well as a list of books available at the Rochester Public Library to continue these important financial conversations with your kids. You can also find a list of resources that will help you keep learning on the First Alliance Credit Union site, including blog posts like:
Want to give your child a chance to put what they’ve learned about saving money into practice? Help them become a member of First Alliance Credit Union today. They’ll be able to open their own youth savings account, and they’ll be able to track their progress through online banking or the First Alliance mobile app.
Submit Your Worksheets Here!
Please be sure that your form has submitted (and there are no errors to correct) before navigating away from the page!