Junior Savers Week 2022
Monday, September, 26th, 2022 in Credit Union News
Enniscorthy Credit Union is delighted to launch its ‘Junior Savers Week’ which will be running from the 26th September to the 2nd October. During the week, Enniscorthy Credit Union will be running a number of initiatives to raise awareness about the importance of saving and developing positive financial habits for life.
As part of the week, Enniscorthy Credit Union will be promoting a Junior Savers Reward Scheme. Junior Savers Sticker cards will be made available to members and each time a child lodges money into their account, a sticker will be placed on the card, and a reward given they complete it.
The Card will be made available for young members and their parents to collect in Enniscorthy Credit Union and Taghmon, Ballymurn and Murintown between the dates of Sept 26th – October 2nd. Each time a young member saves money in their local credit union, they will receive a sticker on their card.
When they complete their card, (when they have saved four times) they will also be entered into a draw that will be held on Novemebr 30th to win a €50 Easons voucher and a Enniscorthy Credit Union Goody Bag!!!
Enniscorthy Credit Union has also put together some of their top tips for teaching children how to develop a healthy and responsible attitude to money.
- Consider rewarding children for regular saving. Don’t focus on the amount saved, but the fact that they are developing a savings habit. Supporting and rewarding them to save even very small amounts on a regular basis will help to imbed the habit.
- Help decide on a savings goal. They will find it much easier to save regularly when they are savings towards something they really want.
- Dissuade young people from spending their savings on impulse. Remind them of their savings goal and what they originally wanted to save for. Share with them a story of something that you would have saved for when you were younger.
- Help develop a savings plan, calendar or mood-board to highlight when their goal will be achieved. Having a visual prop or a visual ‘countdown’ can also encourage them to stick to their target.
- Give pocket money or allowances in small denominations and encourage them to put a little aside. Pocket money is a great way of teaching kids the value of money and introducing the concepts of earning and saving. Giving them a transparent piggy bank or jar so they can watch their money physically increase, is also a good idea.
- Consider linking pocket money and allowances to chores or responsibilities in the home. This helps to embed the idea that money must be earned. The more effort required to earn their money, the less likely they will be to spend on impulse or all at once.
- If pocket money and allowances run out at an early stage, don’t rush to replace them. Providing additional money at the drop of a hat will defeat the purpose of giving a set allowance.
- Why not get them to open their own account in Enniscorthy Credit Union. This will give them a sense of independence and responsibility.
For more information on peing a Junior account Click here