4 Tips to Teach Children How to Save and Spend

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It is essential to start teaching your child about good spending habits from an early age. Then, as they get older, they will utilize those tips and be able to make smart financial choices for their own families. It can be difficult for a child to understand the difference between cash and digital currency, but the earlier you start, the better chance they have of being financially responsible.

Four Tips to Teach Your Children How to Spend and Save

  1. Spending: Learning what spending is and how to budget is arguably the most essential financial skill you can teach a child. Once children realize that purchases cost money and there is a limited amount of money to go around, they will start to learn about the importance of being financially responsible. Children have to learn that in order to afford everything they need to survive, they must plan ahead and adjust accordingly based on unexpected circumstances that arise.
  2. Spending Activities: Young children can learn about spending through an at-home store. Give your child a small amount of money and create a store with items of varying costs. This will help them realize that they cannot buy every single item at the store and that they will need to prioritize what they want the most. They can even save their funds to make larger purchases in the future. When they get older, you can even introduce spreadsheets or apps to help keep track of their spending.
  3. Saving: Another important financial lesson for children to learn is saving. They need to learn that there is a difference between saving money in an abstract savings fund and saving money with a purpose. When kids start entering the workforce, they may choose to save a regular percentage of their income or a certain amount each paycheck. Consider matching their savings with $0.50 as an incentive.
  4. Saving Activities: Help your child set an attainable savings goal and make sure the money being saved is a visual reminder. Consider having your child add money to a jar or color in a section on a whiteboard each time they achieve a new milestone. This visual representation is helping children start out so they can see that their money is being saved for a purpose. Another great way to teach your children about savings is to visit your local credit union and open a savings account for your child. Many credit unions offer financial programs designed for children and can offer additional tips and resources to help your child even more on their financial journey.
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Imagine the possibilities. At Midwest Community, we are well-known for advancing our employees and promoting from within at all levels of the organization. Take the first step in starting your career and grow with us!

Float Member Service Representatives may have days scheduled at any location (Defiance, Bryan, Napoleon). Computer literacy is required and cash handling or banking experience is preferred.

Starting pay is $17.44 an hour
$19.62 an hour after 180 days of service
$21.79 an hour after 1 year of service

Please see the job overview for a list of duties. Resumes may be submitted to Sondra Manon at smanon@midcomm.org.

All are welcome. Midwest Community Federal Credit Union is an Equal Opportunity Employer.

Investment Representative

The primary purpose of this position is to assist Midwest Community Federal Credit Union by delivering outstanding service to both internal and external members. A key element of excellent service is to identify the financial needs of each member and recommend an appropriate credit union solution. In addition, receives members in person and by telephone. Helps Member Investors reach financial goals utilizing our consultative sales process. In addition, responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service is to provide proactive guidance on investment solutions via a needs-based consultative selling approach to both current and prospective Members who have placed an inbound call or referral to the Investment Representative.

For more details, please contact lfrysinger@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

Member Service Representative

Midwest Community Federal Credit Union is looking for a Member Service Representative to process transactions, accurately perform end of day balancing procedures, follow company policies and utilize the core data processing system and various software applications, including electronic banking services. We are seeking candidates who are punctual, honest, friendly, and have outstanding communication skills. Please see the job description for a full list of duties. Resumes may be submitted to Sondra Manon at smanon@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

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