Build Your Kids’ Financial Literacy with a Child Savings Account

We love our kiddos. They’re bright and funny, and we always want what’s best for them. But, unfortunately, the world they will inherit from us is more complex and unpredictable than ever. Our kids will have to contend with rising college costs. Add in a global pandemic with still unknown consequences, and it’s safe to say the next generation is in for a tumultuous financial situation. So how do you help your children make the most of the world they inherit? The key is to focus on improving your kids’ financial literacy. 

The Power of Financial Literacy 

There is no better gift we could give our kids than a strong foundation of financial knowledge. Studies have consistently shown that children who grow up exposed to financial learning opportunities, like personal finance classes, will save more, take on less debt, and utilize the financial resources available to them.

While financial literacy classes are becoming more popular, with some states considering requiring one for graduation, many students are still left in the dark. That’s why it’s so important that the conversation starts at home. 

Financial counselors agree that regular discussions with kids about money can go a long way in preparing them for adulthood and the economic challenges that come with it. That’s why, at DEXSTA Federal Credit Union, we take strides to help you pass down financial knowledge to your children.

Lay the Foundation for Your Kids’ Financial Literacy. 

Passing down financial knowledge can often feel challenging. After all, many of us weren’t given a strong foundation in our childhood. So, to help fill gaps in your knowledge and provide a course for parents to start talking with their kids about money and finance, we partnered with Banzai to create a completely free financial literacy platform. 

Our platform provides parents and children with a collection of basic financial lessons on everything from creating a budget to buying a home and even paying for health care. These bite-sized courses are a great way to frame conversations. They also offer plenty of resources like calculators to help you and your kids’ plan for a bright future.

The software also includes three free courses, “Banzai Junior,” “Banzai Teen,” and “Banzai Plus,” which are already used to teach financial literacy in schools nationwide. 

Bring Their Knowledge to Life With Real-World Applications 

Once your children have a good foundation of knowledge, it’s time to put those skills to work! At DEXSTA, we have several financial resources to help children save and spend wisely. 

Our Child and Teen Savings Programs incentivize your children to practice good savings habits by rewarding them with prizes like movie tickets and even Visa gift cards! Our youth accounts are for children ages 6-12, and our teen program is for teens 13-17 years old. 

These accounts are a great way to invite your children to practice good financial literacy skills. Plus, they’re putting money away for the future. 

Build Your Kids’ Financial Literacy Today

Your kids’ financial literacy doesn’t have to feel like an uphill battle. By utilizing DEXSTA’s financial literacy resources, you can set your child up for a solid financial future and instill essential money habits to help them navigate their futures with confidence.  

Learn more about DEXSTA’s child financial literacy resources.