I'm a Gen X mom, and I have something to confess.
All three of my kids are part of Gen Z, also known as the next wave of credit union members. Yet, despite spending most of my career in the credit union industry, I have not spent much time explicitly talking with my kids about money.
The good news, however, is that my kids have formed some smart financial habits. For example, my soon-to-be 13-year-old son mows our neighbor’s lawn. When I asked him what he was going to do with his “paychecks,” he said he planned on spending one and then saving one in his credit union account.
"I’ll rotate it like that,” he said.
And that's exactly what he did throughout the entire spring, summer, and fall mowing season. In fact, he did better than that. His main purchases have been candy, a nerf gun, and a Lego set, and on any given day, he now has more cash in his wallet than I have in my purse. When it was time to buy my husband’s Father’s Day gift — my son ran into his room and handed me enough cash to cover the online order I was placing.
I wish I’d had as much financial sense as a kid — or even as an adult sometimes!
The next generation of credit union member.
My girls don’t have paying jobs yet, but they are already thinking about long-term financial decisions, such as where to go to college.
My 15-year-old has made it clear that she is thinking about an in-state school, in part to save on tuition costs. She is also a lifeguard in training at the local YMCA and has near-term plans to upgrade her savings account to a checking account with a debit card as soon as she turns 16 and starts earning a paycheck