National Credit Union Youth Week April 20-26
From saving to planning and investing, Hawthorne is committed to teaching young members how to be financially successful. Join us for our special events during National Credit Union Youth Week
This year's youth week theme - "Got Green" Grow it at your Credit Union - aims to help children understand the credit union difference, explaining that as members of a not-for-profit credit union, they earn better rates on saving and loan products, pay lower fees, and receive personalized service.
In 2006, according to the Commerce Department, Americans spent everything they made, and then some, pushing the savings rate to a negative one percent, the lowest level since the Great Depression. Many parents are hoping for more for their children, which is why it's never too early for us to start talking with them about money.
In a nationwide survey released on April 9 by the Federal Reserve as part of National Financial Literacy Month, high school seniors had the worst scores so far in the six years the survey has been conducted. American teenagers answered only 48.3 percent of questions correctly about personal finance and economics.
Whatever your goals and dreams might be, at Hawthorne, we believe it's really cool to save! Since we are not-for-profit, which means we work harder to return more money back to your account, you can deposit your money into your Hawthorne Youth (Savings) Account, and your saved money 'earns' more money.
It's never too late to begin setting aside a portion of your allowance, or money made from your part-time job or lawn-mowing business and put it into a youth savings account. Start saving today!
Join us on Saturday for our FREE Kids Activity Day, click here for details.
In addition, refreshments, giveaways, coloring sheets will be available for all kids. The event is open to everyone in the community.
Showing posts with label kids. Show all posts
Showing posts with label kids. Show all posts
Tuesday, April 15, 2008
Tuesday, November 6, 2007
Take a Bite Out Of School Lunch Costs
Every day when I make my daughter's lunch I carry on a tradition that started with my mom. She’d make my sandwich for school every day. And every day she’d take a bite out of my sandwich. For many years I didn’t even question it. It seemed so normal.
Then the kids started asking. “Who took a bite of your sandwich?” they’d ask.
“My mom,” I’d say. “You mean your mom doesn’t take a bite out of your sandwich?” I’d ask.
“No!” they’d laugh. I always felt a little sorry for them, assuming their mothers must not love them the way mine loves me. So now I carry on the same tradition…
“Geez mom do you have to take a bite out of my sandwich again?”
“Yes,” I said, mouth full. She caught me in the act … again.
But if you’ve taken a good look at the school lunch menu, you might understand why I take the time each day to maker her lunch. I've seen corndogs, nachos and pretzels with cheese on the menu. Excuse me but isn't that carnival food? The average calories per meal is between 700-800. I'm not a nutritionist, but that seems like a lot to me.
A friend of mine who recently started making her kids lunches had similar sentiments after making herself familiar with the school lunch menu. She was horrified and vowed to start making lunches in brown bags the old fashioned way.
Still, I have to give credit to the school lunch provider Sodexho. Making lunch for kids raised on McDonalds can't be easy. These kids grew up in a time when, until recently, the best tasting food made the biggest profit and few companies (or consumers, for that matter!) really cared about how healthy the product was. Taste came first at the sacrifice of health. Things are getting better. Still, lunchmakers like Sodexho (and me) compete for my daughter’s choice of lunch. My goal: nutrition. Their goal is to make a profit for their company and for the school district. If the food doesn't appeal to the kids they lose.
And I must admit this year’s school lunch menus are looking healthier.
Still, I make her lunch as often as I can – I think that whatever I send her is a little healthier than what they’re offering.
Plus it saves me money! I figure the cost of my homemade lunch at around $1, as compared to around $3. And then I get to take a bite out of her sandwich.
Then the kids started asking. “Who took a bite of your sandwich?” they’d ask.
“My mom,” I’d say. “You mean your mom doesn’t take a bite out of your sandwich?” I’d ask.
“No!” they’d laugh. I always felt a little sorry for them, assuming their mothers must not love them the way mine loves me. So now I carry on the same tradition…
“Geez mom do you have to take a bite out of my sandwich again?”
“Yes,” I said, mouth full. She caught me in the act … again.
But if you’ve taken a good look at the school lunch menu, you might understand why I take the time each day to maker her lunch. I've seen corndogs, nachos and pretzels with cheese on the menu. Excuse me but isn't that carnival food? The average calories per meal is between 700-800. I'm not a nutritionist, but that seems like a lot to me.
A friend of mine who recently started making her kids lunches had similar sentiments after making herself familiar with the school lunch menu. She was horrified and vowed to start making lunches in brown bags the old fashioned way.
Still, I have to give credit to the school lunch provider Sodexho. Making lunch for kids raised on McDonalds can't be easy. These kids grew up in a time when, until recently, the best tasting food made the biggest profit and few companies (or consumers, for that matter!) really cared about how healthy the product was. Taste came first at the sacrifice of health. Things are getting better. Still, lunchmakers like Sodexho (and me) compete for my daughter’s choice of lunch. My goal: nutrition. Their goal is to make a profit for their company and for the school district. If the food doesn't appeal to the kids they lose.
And I must admit this year’s school lunch menus are looking healthier.
Still, I make her lunch as often as I can – I think that whatever I send her is a little healthier than what they’re offering.
Plus it saves me money! I figure the cost of my homemade lunch at around $1, as compared to around $3. And then I get to take a bite out of her sandwich.
Friday, August 31, 2007
Get your kids back to school on the right foot!
All the parents I know are so smiley and positive lately and there is a noticeable bounce in their step that I haven't seen in months. Oh yeah, school's back in session!
It’s that time of year again. The back-to-school frenzy has begun. Stores are running sales on backpacks and pencils, and computer companies are pushing laptops for the college-bound group. The money requirements on us hard working parents is back in full swing and once again the question of how to teach our kids how to handle the money that we give them for lunch, books and spending, rears its ugly head.
The Wall Street Journal ran a great column a few weeks ago on allowances. The main point of the article was that you should give your kids an allowance as soon as they can understand that money buys things. Now I am not suggesting that your kids should be paying for lunch or school supplies, or their books in college, but they should understand that now, that additional money needs to be part of your budget.
On Saturday, when we gave Zach his allowance we included additional money for the hot lunches that he wanted to get this week. We explained that we are now paying for this in addition to his allowance. His response was that he earns his money by doing work around the house for us, so that does not count. Not exactly the point I was trying to get across, but at least we tried.
To help you kids start saving money, Hawthorne’s Youth Account is a good place to start and Googolplex for Kids offers fun games & activities for kids of different ages.
I also found some good resources to help young kids understand financial literacy (I think I will need to make sure that visiting these sites get added to Zach’s list of things to do), they include:
Mykidscredit.com answers what you and your kids need to know about credit.
Jumpstart.org promotes financial literacy for K-12 youth. The site isn't especially pretty, but there's lots of good information there.
Consumerjungle.org. Click on students to practice money management skills.
For those of you will college age students, you can help get them off to the right start with some help from Hawthorne.
Student Loans We can guide you through the Federal Family Education Loan Program. Our credit union is an ideal place to learn about the Federal Family Education Loan Program (FFEL). While each loan varies according to your child's financial situation, here's an overview of Stafford and Parent Loans for Undergraduate Students :(PLUS).
Totally Free Checking With no minimum balance and no monthly fees, a student can save money and stay focused on studies. With Family Rewards, the ATM transactions could be free or discounted! The first 6 ATM transactions each month are FREE!
Hawthorne Visa® Check Card Accepted on and off campus, at millions of locations -- including grocery stores, book shops and gas stations. And it doubles as an ATM card, for access to cash. Hawthorne has 57,000 surcharge free ATM locations nation wide. We also offer a FREE easy ATM locator on our web site.
Student Visa® Credit Card Avoid high rate, high balance credit cards sold on campus. Provide your student with our card, which offers a low balance, low rate, no annual fee and a 25-day grace period on purchases. Great for emergencies!
Our student credit card offers a great way for college students to establish a credit history and learn to use credit wisely. The credit limit is $500 and is in the student's name. This card does not require a parent's signature.
Stay in Touch 24/7 You have the option to be a joint owner on the student account, which gives you access to view detailed, up-to-date activity checking account online at www.ehawthorne.org http://www.ehawthorne.org/.
Students out-of-state can call toll-free to access AnyTime® Phone.
Arrange for regular, automatic transfers from your account to your student's. You choose the date, the frequency and the amount. For more details, contact your nearest Hawthorne Credit Union office at 630-369-4070. Or, go online to http://www.ehawthorne.org/.
It’s that time of year again. The back-to-school frenzy has begun. Stores are running sales on backpacks and pencils, and computer companies are pushing laptops for the college-bound group. The money requirements on us hard working parents is back in full swing and once again the question of how to teach our kids how to handle the money that we give them for lunch, books and spending, rears its ugly head.
The Wall Street Journal ran a great column a few weeks ago on allowances. The main point of the article was that you should give your kids an allowance as soon as they can understand that money buys things. Now I am not suggesting that your kids should be paying for lunch or school supplies, or their books in college, but they should understand that now, that additional money needs to be part of your budget.
On Saturday, when we gave Zach his allowance we included additional money for the hot lunches that he wanted to get this week. We explained that we are now paying for this in addition to his allowance. His response was that he earns his money by doing work around the house for us, so that does not count. Not exactly the point I was trying to get across, but at least we tried.
To help you kids start saving money, Hawthorne’s Youth Account is a good place to start and Googolplex for Kids offers fun games & activities for kids of different ages.
I also found some good resources to help young kids understand financial literacy (I think I will need to make sure that visiting these sites get added to Zach’s list of things to do), they include:
Mykidscredit.com answers what you and your kids need to know about credit.
Jumpstart.org promotes financial literacy for K-12 youth. The site isn't especially pretty, but there's lots of good information there.
Consumerjungle.org. Click on students to practice money management skills.
For those of you will college age students, you can help get them off to the right start with some help from Hawthorne.
Student Loans We can guide you through the Federal Family Education Loan Program. Our credit union is an ideal place to learn about the Federal Family Education Loan Program (FFEL). While each loan varies according to your child's financial situation, here's an overview of Stafford and Parent Loans for Undergraduate Students :(PLUS).
Totally Free Checking With no minimum balance and no monthly fees, a student can save money and stay focused on studies. With Family Rewards, the ATM transactions could be free or discounted! The first 6 ATM transactions each month are FREE!
Hawthorne Visa® Check Card Accepted on and off campus, at millions of locations -- including grocery stores, book shops and gas stations. And it doubles as an ATM card, for access to cash. Hawthorne has 57,000 surcharge free ATM locations nation wide. We also offer a FREE easy ATM locator on our web site.
Student Visa® Credit Card Avoid high rate, high balance credit cards sold on campus. Provide your student with our card, which offers a low balance, low rate, no annual fee and a 25-day grace period on purchases. Great for emergencies!
Our student credit card offers a great way for college students to establish a credit history and learn to use credit wisely. The credit limit is $500 and is in the student's name. This card does not require a parent's signature.
Stay in Touch 24/7 You have the option to be a joint owner on the student account, which gives you access to view detailed, up-to-date activity checking account online at www.ehawthorne.org http://www.ehawthorne.org/.
Students out-of-state can call toll-free to access AnyTime® Phone.
Arrange for regular, automatic transfers from your account to your student's. You choose the date, the frequency and the amount. For more details, contact your nearest Hawthorne Credit Union office at 630-369-4070. Or, go online to http://www.ehawthorne.org/.
Friday, August 3, 2007
Teaching Your Kids Savings Tips Along the Way
Certainly, summer is the time for vacations, travel, family adventures and a savings tip or two for the kids along the way.
We just got back for a short trip to Naples, Florida a couple of weeks ago, (yes, if you are wondering, it was very hot) and just like after every other vacation, when we got home I wondered where did all of our money go. Between the airfare, the car and dinning out all time, we ended up spending more than I had planned on. The next time we go on vacation, I’ve promised myself that we will save in advance by opening a Vacation Savings Account at Hawthorne.
One of the vacations savings tips that I have passed on to Zach is to never buy anything in an airport. This conversation started, because on our way through the airport for our departure we walked by the airport book store and he saw the new and last Harry Potter book, Harry Potter and the Deathly Hallows.
He went on to tell me how much he wanted to read the book and that he just had to have it, (he is only six and is not capable of reading the 759 page book, but of course I did not want to tell him that). I explained that you should never buy anything in an airport, because it is always much more expensive. The book in the airport book store was $50.
Once we were sitting down waiting to board the plane, I took out my laptop and we looked on the Walmart web site to find that the book would only cost $17.86 if we bought it there. He could not believe the price difference. After seeing this he said that we would definitely need to wait until we got home (not that he had a choice, but it was nice that he could figure it out on his own).
Since we've been home, I let Zach buy the book at Walmart with some allowance the he has saved up. I also overheard him in his room talking with his friend Joe, a couple of days ago. He was telling him that he should never buy anything in airport because it cost much more than buying the same item in a store. He continued to tell Joe about the Harry Potter book at the airport book store.
It made me feel good to think that some of the life lessons that I am trying to teach him along the way, may actually stick with him. Only time will tell.
We just got back for a short trip to Naples, Florida a couple of weeks ago, (yes, if you are wondering, it was very hot) and just like after every other vacation, when we got home I wondered where did all of our money go. Between the airfare, the car and dinning out all time, we ended up spending more than I had planned on. The next time we go on vacation, I’ve promised myself that we will save in advance by opening a Vacation Savings Account at Hawthorne.
One of the vacations savings tips that I have passed on to Zach is to never buy anything in an airport. This conversation started, because on our way through the airport for our departure we walked by the airport book store and he saw the new and last Harry Potter book, Harry Potter and the Deathly Hallows.
He went on to tell me how much he wanted to read the book and that he just had to have it, (he is only six and is not capable of reading the 759 page book, but of course I did not want to tell him that). I explained that you should never buy anything in an airport, because it is always much more expensive. The book in the airport book store was $50.
Once we were sitting down waiting to board the plane, I took out my laptop and we looked on the Walmart web site to find that the book would only cost $17.86 if we bought it there. He could not believe the price difference. After seeing this he said that we would definitely need to wait until we got home (not that he had a choice, but it was nice that he could figure it out on his own).
Since we've been home, I let Zach buy the book at Walmart with some allowance the he has saved up. I also overheard him in his room talking with his friend Joe, a couple of days ago. He was telling him that he should never buy anything in airport because it cost much more than buying the same item in a store. He continued to tell Joe about the Harry Potter book at the airport book store.
It made me feel good to think that some of the life lessons that I am trying to teach him along the way, may actually stick with him. Only time will tell.
Monday, April 16, 2007
Teach your kids how to manage money during Youth Week!
Join us this year as we celebrate National Credit Union Youth Week from April 22-28 . Our theme for 2007 is "Stash Your Cash @ the Credit Union."
Teaching your children about money does not have to be a chore and you can get started early with some fun activities that will instill financial values in your child’s life. Our primary job as a parents is to prepare our children for how the world really works and in the real world, as most of us know, “you don't always get what you want”. Our kids will be easier to deal with as adults if they experience this fact of life during their childhood.
I usually try not to let guilt get in the way of parenting. My job as a parent is not to make myself feel good by giving my son everything that he wants. My job is to prepare him to succeed in school and when he gets out into the world.
A few things that we have tried are below.
Long-Term Savings Account. We set up an account at the credit union for his first car. Zach knows this money is there and that he has to put half of his allowance every week in to this account. This can also be an account for something else like college or another big item.
We also have a family 401K. We match a quarter to the dollar for Zach’s long-term savings.
We have also tried this approach for short term goal, but watch out, this one can get you in trouble. Last year in January Zach asked for Xbox 360 and we told him that if he could save half of the money that we would pay the other half. Before we knew it, he had saved almost $200. After looking at the price of Xbox and the price of the games $50-$60, we talked to him about this not being the smartest way to spend his money. After he thought it over he decided that it would not make sense to get Xbox yet. Had he not come to this conclusion we would have had a hard time not following through on purchasing Xbox, since Zach had reached is savings goal. What a relief that was!
Helping your children understand the value of money goes a long way in establishing a lifelong pattern of good money management. There are many lessons for our children to learn, and what and how we teach them about money can affect them throughout their lives.
Teaching your children about money does not have to be a chore and you can get started early with some fun activities that will instill financial values in your child’s life. Our primary job as a parents is to prepare our children for how the world really works and in the real world, as most of us know, “you don't always get what you want”. Our kids will be easier to deal with as adults if they experience this fact of life during their childhood.
I usually try not to let guilt get in the way of parenting. My job as a parent is not to make myself feel good by giving my son everything that he wants. My job is to prepare him to succeed in school and when he gets out into the world.
A few things that we have tried are below.
Long-Term Savings Account. We set up an account at the credit union for his first car. Zach knows this money is there and that he has to put half of his allowance every week in to this account. This can also be an account for something else like college or another big item.
We also have a family 401K. We match a quarter to the dollar for Zach’s long-term savings.
We have also tried this approach for short term goal, but watch out, this one can get you in trouble. Last year in January Zach asked for Xbox 360 and we told him that if he could save half of the money that we would pay the other half. Before we knew it, he had saved almost $200. After looking at the price of Xbox and the price of the games $50-$60, we talked to him about this not being the smartest way to spend his money. After he thought it over he decided that it would not make sense to get Xbox yet. Had he not come to this conclusion we would have had a hard time not following through on purchasing Xbox, since Zach had reached is savings goal. What a relief that was!
Helping your children understand the value of money goes a long way in establishing a lifelong pattern of good money management. There are many lessons for our children to learn, and what and how we teach them about money can affect them throughout their lives.
Saturday, March 24, 2007
Out of the mouths of babes
We just installed a new do-it-yourself coin machine in our lobbies. It’s so easy to use, that our first customer, a 6-year-old member named Tyler, counted his change with ease. Tyler came in with his sister and mom to make a deposit to his account. He had $16 and a bunch of change in Spider Man bag. Two of our employees led him to the machine (kids love machines) where he quickly walked through the steps, dumped his change in the bin and walked away with a voucher for $7.67 to deposit into his account. So easy a kid can do it! We think the ‘fun factor’ of the machine might encourage him to save more, too.
As Tyler put it, "I'm gonna save my money!"
We can all take a tip from Tyler! By putting away a few dollars each week into a savings account, it adds up quicker than you’d expect. A few years ago I started putting $75 per month into a savings account for my daughter. Now her account is over $1000.
Most Americans just don’t save enough. The personal savings rate in the U.S. is a negative number, yet 77% of Americans think of themselves as the kinds of people who "always look for ways to save money" (Pew Research Center Jan. 24). I think most Americans define “looking for ways to save” as ways to pinch pennies and spend less. But truly saving money in a savings account is really easier than you think if you take advantage of tools like direct deposit, payroll deduction and automatic transfer.
Here’s your best bet for putting away a few extra dollars. Direct deposit your paycheck into your account each payday. If it’s available to you and you’re not using direct deposit I must ask where do you park your dinosaur? Really, welcome to the 21st century. Get direct deposit. Then, arrange for us to automatically transfer whatever amount you think you can put away into a separate savings account. Whatever you think you can afford, add $20. You won’t miss it because if it’s not in your account you won’t spend it. If it is in your account you will spend it. It’s that simple. You’ll adjust your spending to account for the lower amount. It’s really that easy. Then just forget about it. Before you know it, you’ll be sittin’ on a nice savings account.
If it’s for retirement, consider rolling that money into an IRA once you’ve got some money saved up. Our IRA service center can help with that, or call our IRA specialist for help.
If you took this one step today, I promise you won't regret it.
As Tyler put it, "I'm gonna save my money!"
We can all take a tip from Tyler! By putting away a few dollars each week into a savings account, it adds up quicker than you’d expect. A few years ago I started putting $75 per month into a savings account for my daughter. Now her account is over $1000.
Most Americans just don’t save enough. The personal savings rate in the U.S. is a negative number, yet 77% of Americans think of themselves as the kinds of people who "always look for ways to save money" (Pew Research Center Jan. 24). I think most Americans define “looking for ways to save” as ways to pinch pennies and spend less. But truly saving money in a savings account is really easier than you think if you take advantage of tools like direct deposit, payroll deduction and automatic transfer.
Here’s your best bet for putting away a few extra dollars. Direct deposit your paycheck into your account each payday. If it’s available to you and you’re not using direct deposit I must ask where do you park your dinosaur? Really, welcome to the 21st century. Get direct deposit. Then, arrange for us to automatically transfer whatever amount you think you can put away into a separate savings account. Whatever you think you can afford, add $20. You won’t miss it because if it’s not in your account you won’t spend it. If it is in your account you will spend it. It’s that simple. You’ll adjust your spending to account for the lower amount. It’s really that easy. Then just forget about it. Before you know it, you’ll be sittin’ on a nice savings account.
If it’s for retirement, consider rolling that money into an IRA once you’ve got some money saved up. Our IRA service center can help with that, or call our IRA specialist for help.
If you took this one step today, I promise you won't regret it.
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