25 September 2023
Launch of Junior Savers Week 2023
Carlow Credit Union Launches Junior Savers Week
Junior Savers Week runs from the 25th of September to the 1st of October 2023. The aim of the campaign is to highlight the importance of saving for the future, the best methods for saving and how to build good habits.
Research shows that how we behave around as adults is learned early on from our parents. Implementing good money habits for children early on helps them understand the importance of financial responsibility. So it is never too early for children to start learning prudent financial behavior!
Speaking about the Junior Savers Week initiative, Lee Mulhall, Marketing Manager at Carlow Credit Union says "A huge part of our ethos here is financial education for everyone in our community. We want to ensure our future generation are financially educated and empowered. We want to encourage children to open their very first savings account and get started today".
Carlow Credit Union has also put together some of our top 10 tips below for teaching children how to develop a healthy and responsible attitude towards saving:
- Help decide on a savings plan and goal. Children will find it easier to save if they have an achievable plan in mind each day / week with an end goal.
- Consider rewarding children for regular saving. Don't focus too much on the amount saved but rather the fact they are developing good habits.
- Dissuade from impulse buying. Remind them of their savings goal and why they started.
- Calendars and mood-boards are a fantastic way to keep track of your progress and they also act as a visual prompt to stick to the target.
- Give pocket money in small denominations to encourage saving.
- Use a transparent piggy bank / jar so children can physical see their savings grow.
- Consider linking pocket money to responsibilities and chores at home.
- Form a good habit of bringing your child to the Credit Union and saving money each week.
- Make it fun, when your child is saving reinforce the good behavior with fun activities.
- When your child reaches their end goal, start the process again with a new goal and plan in mind!
Opening a Junior Savers Account with Carlow Credit Union is very straightforward. Click here for all the required documentation and get started today.