01 October 2021
5 REASONS OUR SAVINGS CARD IS FOR YOU
For many young people, saving for just about anything can be a bit of a problem. The chances are your 11-year-old are more focused on creating Spotify playlists than actually saving for things that would be financially beneficial down the line. As a parent, you may be wondering if there is any way you can stop this, right? Well, we’re no experts on giving parenting advice, but we do know a thing or two about saving. In fact, here at Naomh Breandan, we strive to encourage all age groups to save on a regular basis. Did you know, that we now offer a service whereby your Children can see the actual benefits of saving? Let’s take a look.
It’s a Great Initiative
Before we get to the advantages of this approach, let’s take a look at what exactly we are talking about. This savings service is offered to all Primary Schools in the Common Bond. It offers a modern method to young children to learn and develop a Savings habit. A credit union representative visits the schools once a week with the Visual Savings Unit and collects the money from the children for their Savings Card. This Youth Savings Initiative could not happen without the work and co-operation of many volunteers including teachers and parents within the schools.
It Teaches Children to Save
Now, let’s take a look at the benefits. There are of course many benefits to our savings card initiative, but one of the major advantages is that it teaches Children to save. Saving in life, as you know, can be hard. Millennials and teenagers don’t exactly have a great track record of putting cash away, maybe we are wrong. With our approach however, we’ll teach your children the value of saving. Then, after a couple of weeks, they will have enough saved to take that trip to Disneyland. Actually, it may not be a bad idea to look at our savings options for you? You can read more about those here.
We could never organise an initiative like this without the help of our local community. Teachers, parents and the Credit Union all work in synch to ensure your child gets the best type of savings advice possible. The advantage of this approach is that, more than likely, your child can get on a first name basis with many of the people running this scheme and they can feel at ease to save, with a little bit of encouragement.
It Creates a Link
Through this initiative, a Credit Union representative visits your child’s local school once a week. In turn, this creates a direct link between the Credit Union and your child. The advantage there is that, when your child gets older, they will see the benefits of the Credit Union and start on a path to a fiscally responsible life.
It’s Easy to Understand
One of the main concerns for our Credit Union was how your child could better understand the value of saving. That’s why we decided to instruct our representatives to explain their approach in a manner that is both easy to understand and quite visual in nature. The advantage is that Children will be able to easily understand how saving works.