Parent Resource Center
Welcome to Our Parents’ and Children’s Page
We hope our parents, grandparents, and/or guardians find this page useful and inspiring in guiding your children to financial freedom and can refer to it regularly for knowledge, ideas, and more!
Turns out “The Hustle” is an all time favorite for tweens through young adults and excellent for family conversation. If you discover your young entrepreneur needs a first business account, we’d be honored to set that up.
Cash Course are short financial lessons that many teens and college age young adults have commented on, be sure to check it out. You may discover something you’d like to know more about!
If you have any suggestions or recommendations, please contact cindy.tong@audubonfcu.net. We’d appreciate your help in making us better! If you are a Home School Group or school looking to enrich your students we are an excellent resource, surprisingly not just when it comes to finances! We’ve got you covered for local history of Credit Unions in Daviess Co. The Great Depression and how Credit Union’s really came into play afterwards. You’d be greatly surprised we can assist with Geography too! And of course, when it comes to job fairs, there are more positions available in a Credit Union than you may realize. Feel free to take advantage of us, no strings attached!
PragerU
POINT OF INTEREST ~ DAVIESS CO. KENTUCKY
Bruner’s Collectables on Washington Avenue across from Old Hickory Bar-B-Q. Kevin Bruner has such a wealth of knowledge when it comes to history involving coins and paper money! Your children will as amazed as you with his personal collection of the first paper money created during the Civil War. Or the sweetheart coins from the 1700s through 1800s and so much more. Who knows, you may plant a seed of a hobby in your child from a few outings to Bruner’s Collectables.
Meet the Money Monsters!
The Money Monsters are a group of creatures who are new to our universe. That means they need to learn about many important things like school, friendship, and financial literacy.
Financial literacy is when you have the knowledge and skills to make money choices that are right for you. These Money Monster stories introduce you to ideas, habits, and activities that you’ll need as you grow up and start to manage your own money.
Youth Account Information
Youth Accounts are more than just savings; they are your child’s first steps to learning about money management and more! Give your children or grandchildren a strong financial foundation with saving, checking, and, yes, loan options.
· AFCU Kids ages 0 to 10: Learn the difference between wants & needs. About saving for something short term and long term. And how to manage that money with statements.
· Learn and Earn ages 11 to 14: Continue learning about wants and needs and money management. And if they have $500 saved, they can now learn about compound interest with their first 12-month Share Certificate*.
· Responsibility and Credit: Ages 15 and up. Once they take on the responsibility of a job, it’s time to open a Checking Account and all that comes with it, such as a debit card and online banking to really keep an eye on their hard-earned money!
Their next step will be understanding they will have a credit history to build responsibly. That 2nd step involves you; you have the option once they are 17 to add them to a loan you currently have with us. (The best option here is if you have taken out a loan on a vehicle for them, add them to it!) While they will not technically be responsible for the loan, it will build their credit as they make payments on time.
Their 3rd step when turning 18 is a Credit Builder Loan. It consists of a $500. loan locked down in their savings and out of those funds their payment is made each month on time. At the end of a year, they’ll have paid off their first loan!
And lastly will be their first credit card with a reasonable limit of $500. Which they will be advised on! If they should mess up and max it out, it’s a relatively painless lesson they will be able to handle on their own to pay off!
By 19 they will have 2 to 3 types of loans on their Credit History, creating an excellent credit score!
For teens wanting to move out of the family home, feel free to reach out to Grandma Cindy. We’ll work together to figure out how much you’ll need to make financially to pull that off. You may be shocked, but at least you’ll be prepared as to what to expect!