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Finance 101: Tips for Kids

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The school year is wrapping up but learning is something that never ends. We asked Cooperstown and Wimbledon employees, "What financial life lessons did you (will you) give your own kids?" Here’s food for thought from the Bank Forward pros.

 

"Save for future investments, purchases, and retirement." – Amber

 

"'That the stock market only goes UP!!' Not all the time! We stress saving to our daughters as the way to have a rainy day fund." – Brad

 

"Save a portion of everything you make. As a child, parents provide the essentials. Money for a child is extra and fun. Why not teach them this “extra money” can be split and some saved and some spent?" – Danelle

 

"It is so important to start looking at different investment products/types early in you life. We have taught our kids to put away as much as possible in their 401(k)s." – Cheryl

 

"I was told this earlier by one of my college professors and kind of listened but maybe not to the extent that I should have. She always said when you are young, 'Invest, invest, invest!' I’ll be teaching my kids that everything costs money and how to balance a checkbook"! – Jessica

 

"I am going to tell my kids to save, save, save, by putting a certain amount away each month. I wish I would have done that earlier instead of spending it.…..LOL." – Michelle

 

"Be sure to put $$ aside for your retirement and be financially responsible. Make sure funds are in your account to cover checks and debit card transactions." – Renee

 

"You don’t miss what you don’t see; pay yourself first with automatic transfers to your savings. Maximize your 401(k) contributions as soon as you can. At the very least, make sure you contribute to your employer match." – Deb

 

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Guest Friday, 04 September 2015

Lois Bednar
Fraud Prevention & Protection