LET’S DO A FINANCIAL CHECK-UP | YOUTH (From Birth – Age 12)
There are several options for saving for children or grandchildren. One of the easiest ways to start is to open a children’s savings account. Setting up savings for your child will build up a nice account for when they older. Also, it will teach them the value of saving and help you to coach them on ineffective money management.
NEED VERSUS WANT
During this age, children are learning the difference between Need versus Want. Additionally, responsible spending habits will help a child learn how to make the right choices. While at the store, practice what is a need (toothpaste, soap, toilet paper, food, clothes) and what is a want (toys, candy).
THE POWER OF SAVING
Parents can also teach about the power of compound interest. Once your child opens their account, it pays dividends right away. Whether it’s a birthday card from nana, a chore allowance, or tooth fairy visits, your kids will want to keep their treasure safe. A Momi’s Money Savings Account is a perfect way to teach your child about the right and wrongs of money. It might surprise them to watch their money grow when they add it to a savings account.
Keeping a piggy bank | When you open a Momi’s Money account, we will provide a monkey bank for you to get started.
Teaching Need versus Want
Playing games with them that involve money
Making a wish list with your child for their wants
Teaching them while you shop
Establishing an allowance for chores they do
Involving your kids in purchases
Teaching them the value of money and the denominations
Are You Ready?
Overall, you should teach your child to save while using the account. Momi’s Money was created to teach children the value of saving money and rewarding them for goals met. On occasion, parents like to deposit large sums of money for their children. Unfortunately, this does not teach them the value of money or how to save. For larger amounts, we strongly suggest also opening a Jumbo Savings Account or a Coverdell Education Savings Account with/for your child.
In consectetuer turpis ut velit. Aenean ut eros et nisl sagittis vestibulum. Aenean posuere, tortor sed cursus feugiat, nunc augue blandit nunc, eu sollicitudin urna dolor sagittis lacus. Quisque id mi. Phasellus viverra nulla ut metus varius laoreet.
Integer tincidunt. Nullam nulla eros, ultricies sit amet, nonummy id, imperdiet feugiat, pede. Quisque ut nisi. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; In ac dui quis mi consectetuer lacinia. Vivamus quis mi.
Test Modal 2
Sed a libero. Nullam nulla eros, ultricies sit amet, nonummy id, imperdiet feugiat, pede. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Phasellus blandit leo ut odio. Nullam nulla eros, ultricies sit amet, nonummy id, imperdiet feugiat, pede.
Ut varius tincidunt libero. Cras ultricies mi eu turpis hendrerit fringilla. Morbi ac felis. Vestibulum facilisis, purus nec pulvinar iaculis, ligula mi congue nunc, vitae euismod ligula urna in dolor. Donec mollis hendrerit risus.
Members with an existing PHFCUOnline username are experiencing problems with logging into the new home banking site. We are currently working quickly to resolve this issue. The work around is to click on the Forgotten Password link and to follow the onscreen instructions.
· Send it in the mail: PEARL HAWAII FEDERAL CREDIT UNION, Attn: Human Resources Dept., 94-449 Ukee Street, Waipahu, HI 96797
4/15/24- Honolulu Branch Has Moved!
. Please visit our new location at Honolulu | Hokua Tower - 1288 Ala Moana Blvd #106details
Leaving Our Website
By accessing this link, you will be leaving the Credit Union’s web site and entering a web site hosted by another party.
Although the Credit Union has approved this as a reliable partner site, please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of the Credit Union’s web site. The other party is solely responsible for the content of its web site.
We encourage you to read and evaluate the privacy and security policies on the site you are entering, which may be different than those of the Credit Union.
