Teach Your Little Owls to Fly With Money Talks

The first step to teaching your kids about money is talking about money.

“The most effective way to teach is by having frequent discussions and don’t ever lecture,” said Ted Beck, president and chief executive of the National Endowment for Financial Education, in a recent Wall Street Journal article. “Look for teachable moments and always be willing to answer questions.”

Unfortunately, this can also be the hardest.

A 2015 T. Rowe Price survey found that 72% of parents experienced at least some reluctance to talk to their kids about financial matters, and 18% were either very or extremely reluctant. The most common reasons given were that the parents didn’t want them to worry about financial matters or thought they were too young to understand.

But on his blog, the personal-finance guru and radio host Dave Ramsey encourages parents to be more open with their kids about money, even their failures. Parents’ biggest regrets are often not saving enough or going into too much debt, wrote Ramsey. Being honest about that in an age-appropriate way, he stated, can be a powerful lesson.

So how to start the talk?

  • Ask questions. If you’re going out to eat, talk about the price difference between the options, and ask them which they would choose. If they select the more expensive, talk through what you might have to give up later in the week.
  • Make them part of your budgeting. If you’re doing any kind of financial planning for the year, solicit input from your kids. Enlist them in your saving goals—no one watches you more closely than your kids, so they’re natural accountability partners! If you’re uncomfortable revealing too much of your financial picture, you can keep the discussions high level, but involving them makes money less abstract.
  • Open a youth savings account at DCFCU. This is the best way to help them to learn to save for what they find meaningful in life. A lifetime of good savings habits can start now!

Dade County Federal Credit Union (DCFCU) believes in the power of education and we’re here to help launch our youth toward financial independence. We invite you to enter our annual Savings Challenge contest to pump up your savings and a chance to win prizes:


Stop by any DCFCU branch to pick up your coloring book. Fill it up with quarters, once all the quarter slots are filled, bring it by any one of our branch locations and deposit your money in your youth savings account. Take your receipt and book to the Branch Manager to pick a prize from our Treasure Chest and be entered into the raffle to win an iPad mini.* All deposits must be made by the Youth Member.


Stop by any DCFCU branch to pick up your savings challenge stamp card. Bring your stamp card to any of our 12 branch locations whenever you are going to make a deposit over $5 in your account. Each time you make a deposit over $5, you earn a stamp and a prize from the treasure chest. Once you’ve earned 10 stamps, please turn the card into your nearest branch. Your completed card will be submitted into an even BIGGER raffle, where you may be eligible to win an iPad mini*.

By instilling the habit of saving at a young age, offering positive encouragement, and providing financial education, we can prepare our community’s youngest members for brighter futures by helping them grow into financially capable adults. That’s why we take our mission of helping youth so seriously. Of course, we realize the biggest influence on anyone’s life is his or her parents. So if you want to start your kids on a path to financial strength, participating in Credit Union Youth Month is a good start.



*The coloring book savings challenge is for children ages 3-10.  The coloring book challenge must be submitted with child’s parent/legal guardian at the Credit Union branch. Credit Union employees and immediate family members are not eligible to enter. If you should have any questions, please call 305-471-5080.

** The stamp card savings challenge is for children ages 11-17. Participant must be a member of Dade County Federal Credit Union. Credit Union employees and immediate family members are not eligible to enter. To earn a stamp, member must make one deposit per business day in the value of $5 or more.  Child must be present at the time of the deposit. Cardholder must be a member of Dade County Federal Credit Union.  Acceptable age range for this challenge is 11 to 17 years of age. Once this challenge is complete and all stamps have been earned, this card may be turned into a branch manager or assistant branch manager and will be entered into a drawing. Drawing will be conducted on May 1, 2017 and will be chosen at random. Deposit will be verified at the time of drawing. Participant will win a Random Prize selected by the Credit Union. By providing us your email address, you agree to join our mailing list. Since participant will be younger than 18 years of age, parent or legal guardian must be present at the time of receiving gift. This offer is subject to change at any time without notice. By using the Gen-You Savings Card & Coloring Book, Holder hereby grants Dade County Federal Credit Union irrevocable, transferable, perpetual right and license to publish, print, display, record and use (by photograph, film, tape, aural devices and any other method or device) the Holder’s name, voice, image and likeness while at Dade County Federal Credit Union (the “Recordings”), and use such Recordings for any and all purposes, in any and all media now known or hereafter devised.  No camera or recording devices are permitted at the Credit Union, except as approved in advance by Dade County Credit Union’s Senior Staff Member.