HIFICU Offers Advice on Teaching Kids Money-Saving Tips

HIFICU Offers Advice on Teaching Kids Money-Saving Tips

January 29, 2020 0 By Stanley Isaacs


MORE SUNNY SKIES ENSUING. Kristine: START OF THIS NEW YEAR, IT’S A GREAT TYPE TO MONEY AND HOW TO SAVE. GREAT TIME TO TEACH KIDS. JOINING US WITH TIPS IS PAULETTE ITO, SENIOR VICE PRESIDENT MUCH MARKETING AND IT OF HAWAIIAN FINANCIAL FEDERAL CREDIT UNION. GOOD MORNING PAULA. WELCOME. GOOD MORNING. Kristine: IT’S A GREAT TIME. BEGINNING. YEAR. TART THEM WITH NEW RULES. WHAT THE AGE SHOULD WE START TEACHING OUR KIDS ABOUT THE VALUE OF MONEY AND HOW TO SAVE? START TEACHING OUR CHILDREN AT VERY YOUNG AGE BECAUSE BY THE TIME THEY’RE 7 YEARS OLD, RESEARCH SAYS THAT THEY LEARN AS AS SOON AS YOU CAN, WHEN YOU’RE IN THE GROCERY STORE, IN THE CAR, PUSHING THEM AROUND, TEACH THEM. THIS ITEM COSTS TWO DOLLARS. THIS ITEM COSTS FIVE DOLLARS. SO IT’S NEVER TOO EARLY TO START THEM. Kristine: START TEACHING HOW TO MAKE DECISIONS. EXACTLY. IVE HOUSEHOLD, YOU’LL HAVE DECISIONS ABOUT MONEY. SHOULD WE BUY A NEW CAR. SHOULD WE BUY THIS NEW PLAYSTATION. AND TALK ABOUT IT. SAY YOU KNOW, THIS ITEM COSTS X AMOUNT OF MONEY. AND WE HAVE X AMOUNT OF MONEY. SO SHOVED WE REALLY PUT OUR MONEY INTO THAT? PUT THEM IN THE DRIVER’S SEAT OF MAKING DECISIONS. Kristine: EVEN SOMETHING LIKE SHOULD WE GO OUT AND EAT TONIGHT. BECAUSE WE ALL KNOW, THAT CAN ADD UP. ESPECIALLY WHEN YOU HAVE KIDS. SO I THINK I LIKE TO DO, TEACH MY SON, WE CAN GO EAT OUT, BUT DID YOU KNOW THAT IT COSTS THIS MUCH TO ORDER THIS DISH? BECAUSE THEY HAVE NO IDEA. THEY DON’T SEE THE BILL. THAT’S WHY SOMETIMES IT’S GOOD TO HAVE YOUR CHILDREN PAY FOR THE BILL. I HAVE MY SON, WANTS TO GO OUT A LOT. ARE YOU GOING TO PAY? HE SAYS YES. WHEN WE GO THERE AND HE’S TAKING OUT HIS WALLET, OH, IT COSTS THAT MUCH? Kristine: I ASK MY SON TO PAY AND HE JUST LAUGHS. HOW CAN WE TEACH OUR KIDS TO SAVE? WELL, TO TEACH THEM TO SAVE YOU HAVE TO TEACH THEM TO BOY. OTHERWISE, THEY DON’T KNOW THE VALUE. TEACH THEM TO BUY. MY SON GOING OUT TO EAT. HERE AT THE CREDIT UNION, WE HAVE A KIDS CLUB. AND EVERY TIME THAT YOU SAVE MONEY AND YOU REACH A CERTAIN LEVEL, WE PROVIDE YOU THESE TONS. WITH THE TONS, YOU CAN USE THEM TO GET MERCHANDISE AT THE CREDIT UNION. SO WE HAVE A CHEATS FULL OF DIFFERENT ITEMS THEY CAN REDEEM IT FOR. THIS IS JUST LIKE REAL MONEY AS WELL. BECAUSE YOU USING IT TO BUY SOMETHING. SO IN IS A GREAT WAY TO TEACH THEM HOW TO SAVE. SO YOU’RE TEACHING THEM, OKAY, EVERY TIME YOU GET MONEY, FROM GRANDMA, GRANDPA, CHRISTMAS, PUT YOUR MONEY AWAY, LOOK, YOU GET SOMETHING BACK. AND THEN YOU CAN USE IT TO IT. THESE, YOU’VE GIVEN OUT START OF EVERY CHINESE NEW YEAR. YES. 13 INN YEAR. GONE FULL CIRCLE. STARTED 13 YEARS AGO WITH THE RAT. THIS YEAR, THIS IS THE RAT OF THE YEAR. AND IF SOMEONE OPENS UP A KIDS CLUB ACCOUNT, WITH $100, THEY GET THIS BANK FOR FREE. Kristine: IS THERE AN AGE MINIMUM WHEN YOU CAN SIGN UP FOR THOSE KIDS CLUB ACCOUNTS? NO. OLD. AS LONG AS YOU HAVE A SOCIAL SECURITY CARD. CAN YOU OPEN UP AN ACCOUNT FOR THE CHILD. BENEFIT RIGHT THERE. FROM NEWBORNS TO 12. AS LONG AS YOU HAVE A SOCIAL SECURITY CARD. ALL ACCOUNTS OPENED WITH $100. AGAIN, CAN YOU GET MORE INFORMATION ON THEIR WEBSITE. HIFICU.COM OR FACEBOOK PAGE OR WEBSITE AS WELL.