Saving money and good financial management is not just for adults. It is never too early to involve children in the process of saving for their goals. Educating children to save money early on can help build a basis for future spending and saving habits.
Saving enables children to buy something they want without paying interest or going into debt, take pride in achieving a goal, and learn to spend wisely. If children are taught how to save and spend at an early age they are able to use their own decision making skills and also have their parents’ advice to guide them through the process.
In order to get the important message of saving to our area youths, Okaloosa Saves is now holding the Teach a Child to Save Campaign. Youths age 17 or younger are encouraged to participate by completing a short entry form, set a financial goal, and make a deposit into a new or existing savings account.
These steps can be completed at any of the following participating financial institutions: Bancorp South, Miramar Beach, Beach Community, Eglin Federal Credit Union, First City Bank, and PenFed Credit Union.
Youths then will be eligible to win a $50 deposit for their savings account, donated by David Money, First Bank. The campaign runs through July. Imagine, winning money, just for saving money. Talk about a reward!
Visit Okaloosasaves.org or our Okaloosa Saves Facebook site for more information about the campaign or to learn more about saving.
Jill Breslawski is an agent at the University of Florida's Institute of Food and Agricultural Sciences Extension office in Crestview.
This article originally appeared on Crestview News Bulletin: BRESLAWSKI: Financial management works for people of all ages