Teaching Children Financial Responsibility:
As your children grow up, they need guidance in many areas, including financial matters. CACCU has many services that can help you educate and prepare your children for a better financial future…while they are still living at home.
Wise money management skills are important to learn. Teach your children while they are young how to budget money for spending and saving. As they become young adults, it is beneficial that they understand financial matters such as:
How to read a credit union statement
When you borrow money, how important is Annual Percentage Rate
Why is Annual Percentage Yield important on savings and certificates
How will my use of credit NOW affect my future
Having a good credit score is becoming more important each year. Did you know that businesses often look at an individual's credit score as a behavioral pattern (likelihood that they will get their money back)? For instance, credit reports are usually run when:
A person wants to move into a house or apartment
Hooking up utilities
Buying a vehicle or a home
Obtaining credit cards or department store charge cards
A credit score can determine if a young person will be able to get the above services and how much they will pay for those services.
As your children apply for loans, coach them with the information necessary so the loan will benefit them now and in the future. Take a moment and visit some of the helpful areas we have provided within this website. We are sure you will find the tools, resources and information very helpful.
Parents
