Financial Literacy Month
Building Healthy Financial Habits That Last a Lifetime
April is Financial Literacy Month, a time to focus on understanding how money works and building habits that support long-term success.
Whether you’re just beginning to save or starting to make your own financial decisions, learning these skills early can help you feel more confident in the future. And parents, your guidance plays an important role every step of the way.
Let’s take a look at how you can build your financial knowledge and skills with our three-step BOOST program:
Ages 5–11: Understanding the Basics of Saving
Saving is the first step in learning how to manage money. When you save, you’re setting money aside for something important to you. Over time, this helps you learn patience, planning, and goal setting.
Ways to build your knowledge:
Think about something you would like to save for
Add money regularly, even in small amounts
Notice how your savings grows over time
BOOST Tip: Saving means making a plan for your money instead of spending it right away. With your BOOST savings account, you are also earning a higher dividend on your balance (3% up to $2,5000), which adds up over time!
For parents: Introducing simple goals and consistent habits can help children understand the value of delayed gratification.
Ages 12–15: Learning How to Manage Money with a Checking Account
As you get older, managing money becomes an important skill. A checking account can help you track what you spend, understand where your money goes, and begin making informed choices.
Ways to build your knowledge:
Review your account balance regularly via your PeoplesChoice Credit Union online banking
Track your spending and make sure to review your transactions often
Consider the difference between needs and wants when spending
BOOST Tip: Managing money means making thoughtful decisions about how and when to spend. Download our mobile app to stay in control of your money anytime, anywhere!
For parents: Encouraging regular review of transactions can help teens connect their choices with outcomes.
Ages 16–18: Building a Strong Foundation with Credit
Understanding credit is a crucial part of financial literacy. Credit allows you to borrow money, but it also comes with responsibility. Learning how it works now can help you build a strong financial future.
Ways to build your knowledge:
Use credit only for what you can repay, such as daily necessities
Make payments on time and in full when possible
Keep balances at a manageable level
BOOST Tip: Responsible credit use builds trust and can impact future loan opportunities. Use the My Credit Score tool via our online banking to monitor your credit report and score!
For parents: Conversations about credit, interest, and repayment can help teens make informed and confident decisions.
Learning Today for Tomorrow
Financial literacy is built over time through knowledge, practice, and consistency. By taking small steps now and continuing to learn along the way, you can build confidence in your financial decisions for years to come.
At PeoplesChoice Credit Union, we’re committed to supporting both our young members and their families with the tools and education needed for lifelong financial wellbeing.
