Every child dreams about their future. Some of those dreams may require money to come true. In April, Global is celebrating Youth Month, which is a program that helps teach and encourage kids to develop good financial habits.  Together,  we can help our kids blast-off toward a bright and wondrous financial future.

The Science of Saving
A 2017 national survey found that almost 60% of Americans have less than $1,000 in savings and almost 40% had none. Saving your money isn’t always easy, especially when you don’t have a lot to spare. Why do we spend the money we planned on using for our future?

We can blame it on our brains. Behavioral science has shown that humans are hard-wired to act on impulse and that it takes conscious thought to delay gratification. It’s also much easier to focus on the present than our future.

So, if it’s hard for adults, how do you teach your children to save? By turning it into a habit. Studies show that habits formed when you are young tend to stick. It’s why you still brush your teeth every day – we hope!

Global Can Help Teach Your Children How to Save
To help your children get into the savings habit, start by having them cut out pictures of something they’d like to have someday and post the images where they’ll see them often. Then help them open a savings account at Global. At Global, everyone under the age of 17 who opens an account is automatically enrolled in our Junior Citizen Program.
With every deposit, Junior Citizens have the opportunity to give back to their community by donating a token to one of three charities and receive a moonjar at account opening. Moonjars teach the importance of money management through a save, spend, share philosophy.

Encourage your child to make regular small deposits each week. Tell them their money will earn interest while it’s in their account. If they keep this routine going, they’ll quickly see their savings grows.

This April, we’re celebrating Youth Month. We encourage you to bring your children into any of our branches to enjoy fun games, win prizes and learn more about the Science of Saving.  There will be weekly drawings and snacks.  Together, let’s help our kids blast-off toward a bright and wondrous financial future.