Youth Month: Words of Wisdom

Each year in April, we celebrate Youth Month-it's one of our favorite times of the year!  Part of our foundation as a credit union is financial education for our youth.  We asked Shelly, Judi and Cindy a question: what's the best financial advice you've ever received?  Check out their answers below so you can "Pump Up the Savings", too!  

Question:  Shelly, what budgeting advice did you give your children?

Answer:  "I opened an account for both my kids as soon as they had social security numbers and titled them MY FUTURE.  Once the girls began to earn money from babysitting, chores, etc., they began making deposits into their accounts. When they got their first jobs, they would put 10% of what they earned into the accounts.  I always tell them to "pay yourselves first".  Today they put at least 10% toward their retirement accounts. (Insert Proud Mama!)  They learned from a young age how fast the money grows and they didn’t even miss it.  Having the accounts has also helped them weather tough times.  One of my daughters utilized some of the money while she was finishing college with no income and my other daughter used part of the money to make a down payment on her first home.  

-Shelly, Operations Supervisor 


Question:  Judi, when it comes to budgeting, what are your favorite tips?


  • "I log all of our monthly bills which helps keep our household on track and also gives us a heads up on what bills are coming.  
  • You've probably heard this before, but always pay yourself first!  Even if it’s just $5.00, put it in your savings account and forget about it.  Before you know it, it will grow into a sizeable amount.  
  • Take advantage of your work's 401 (k)/retirement program.  
  • I am a frugal shopper so I watch for sales and discount items.
  • Set aside some “fun” money.  This will allow you some pleasures in life!"

-Judi, Registered Sales Assistant


Question: Cindy, what's one piece of financial advice that's helped you?  

Answer:  "The best thing my dad told me was “put your raise into your 401(k)”. I did this and before we adopted our kids, I was up to 17.50% of my income going into my 401(k). I backed it down to 6% the year we adopted our kids then started slowly increasing it again each year.  Before long, I was up to 10.50%."  
-Cindy, Real Estate/Consumer Loan Officer

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