HoneyBee Club

It is important for children under the age of 12 to learn the basics of money management, such as the difference between needs and wants, budgeting, and saving. They should also learn about coin and bill identification and how to count money. Additionally, it may be beneficial for them to learn about different financial institutions and how to handle basic transactions, such as depositing and withdrawing money. It's a good idea to talk to them about credit cards and why you should use them responsibly. 

When explaining the benefits of keeping money in a credit union to a child, it’s important to use simple language and examples that they can understand. Here are a few key points to consider:

• A Credit Union is a safe place to keep money: It's much safer to keep money in a credit union than in a piggy bank or under a mattress because banks are guarded and have security systems to protect our money.
• Credit Unions can help us save more money: Credit unions pay us interest on our savings, which means that our money grows over time. This means the more money you save in a credit union, the more money you will have in the future.
• Credit Unions help us manage our money: Credit unions offer many tools to help us manage our money such as checking account, debit card, and online banking. This makes it easy to keep track of how much money we have and where it's going.
• Credit Unions make it easy to access our money: With a credit union account, we can access our money whenever we need it by visiting an ATM or by writing a check. This is more convenient than having to save up all the money we need for a big purchase before we can buy it.
• Credit Unions can help us pay bills: Credit unions can help us pay bills like rent, electricity, and phone bills. It's much easier than having to pay the bills with cash.

You can try to use simple examples to convey these concepts, like putting money in piggy bank with a small amount of interest, or using a piggy bank to save up for something special, whereas keeping money in credit union you can save more money with the added interest and use it for bigger items or future plans.

When explaining what money is to a child under 12 years old, it's important to use simple language and examples that they can understand. Here are a few key points to consider: 

• Money is something we use to buy things we want or need. 
• Money comes in different forms, such as coins, bills, and digital currency. 
• We use money to buy things like food, toys, clothes, and other things we need. 
• We can earn money by doing tasks such as chores, or by receiving money as a gift or allowance. 

One way to explain these concepts to a child is to use everyday examples that they will understand. For example, you can explain that money is like magic tickets that allow us to buy things we want or need like a toy or a piece of candy from the store. You can also use visual aids such as pictures of money and different currencies, and use real-life situations such as shopping for groceries or buying a toy in the store and explaining how we use the money for that. 
It's also important to teach children about the value of money and how to manage it. Encourage them to set simple saving goals, show them how to budget and manage their allowance or money they received, and teach them the difference between needs and wants. Additionally, you could explain that sometimes we might not have enough money to buy everything we want right away and that's why it's important to save money for future. 

When explaining what a budget is to a child under 12 years old, it's important to use simple language and examples that they can understand. Here are a few key points to consider: 

• A budget is a plan for how to use your money. 
• A budget helps you to figure out how much money you have, how much you need to save, and how much you can spend on things you want or need. 
• A budget can help you reach your financial goals such as saving up for something special, or making sure you have enough money for something you need, like school supplies. 
• A budget is important because it helps you make sure you have enough money for what you need and also helps you to save for the things you want. 

To explain this concept to a child, you can use simple examples like making a plan for how they will spend their allowance or money they earned doing tasks, and setting up simple goals, like saving up to buy a toy or a book they want. You can also use visual aids such as pictures or charts to show them how they can divide their money between different categories such as savings, spending and needs, and explain how it will help them reach their goals. 
It's also important to teach children that a budget is a flexible plan, and it's okay if they need to make changes to it as their needs and wants change. Encourage them to review their budget regularly and adjust as needed. The key takeaway is to instill the importance of being mindful of their spending, and planning for the future. 

To explain this concept to a 12-year-old child, you can use examples such as, food, clothing and a roof over your head are needs and examples of wants might be video games, designer clothes or expensive toys. Ask them to brainstorm a list of things they need and things they want, and then have them compare and contrast the two lists and see the difference. 
 
You could also show them examples of having to make choices such as, if they want to buy a toy, but also need new clothes, you can ask them to think about what is more important for them in that moment and how they will make their decision. It's important to teach children to be mindful of their spending and making responsible financial decisions. 

To explain this concept to a child under 12, you could use simple examples such as, setting a goal to save up for a toy or a book they really want and help them to plan how much money they need to save and by when. Use visual aids such as pictures or charts to show them how they can track their progress and see how close they are to reaching their goal. 
 
It is also important to teach them the value of patience and consistency in achieving their financial goals, and to celebrate and reward when they reach their goals. It's important to start small and simple goals with them, and as they reach their goals and gets more comfortable with the process, they can set bigger and more complex goals. 

To explain this concept to a child under 12, you can use an example that they can relate to such as, when you put money into a piggy bank, it will stay the same amount unless you add to it. But when you put money into a credit union account, the credit union pays you a little bit extra for keeping your money there, and this extra money is called interest. You can use visual aids such as pictures or charts to help show them how interest can make their money grow. 
 
It's also important to note that the interest rate can vary depending on the credit union and the type of account you choose, and it might be worthwhile to shop around for the best interest rate. Encourage them to start saving early, and even small amounts can grow significantly over time with the help of interest. With a savings account, not only their money is safe but also it will grow gradually, and it will help them in the future. 

• April 2025
• January 2025
• October 2024
• July 2024

Complete the following coloring sheet during the month and return it back to any branch location to earn a Bee Buck!

• May 2025
• April 2025
• March 2025
• February 2025
• January 2025
• December 2024
• November 2024