GR8 Savers Week, 9th – 15th May 2016
Desmond Credit Union together with Credit Unions across Ireland, will this week celebrate National Credit Union GR8 Savers Week. The initiative, which runs from 9th – 15th May 2016, aims to help young people to develop a smart relationship with money and highlights the importance of developing a savings habit.
If you’re a parent or guardian, here are some useful tips to encourage your children to become GR8 savers:
- Consider rewarding children for regular saving.
- Help children to identify short term goals to save towards.
- Make saving interesting. Develop a savings plan or calendar to show when and how the goal can be reached or help children to hang up a picture of what they’re saving for.
- Let children learn that they have to save up to buy something that they really want. Don’t let them get into the habit of running to you every time they need more money.
- Explain how dividends and interest work. When they put their money into a savings account, these savings can earn more money at the end of the year.
- Give children a piggy bank to help them save, or better still, bring them down to the credit union to open a savings account.