GR8 SAVERS WEEK 9TH MAY – 15TH MAY 2016
Link Credit Union together with Credit Unions across the island, will this week celebrate National Credit Union GR8 Savers Week. The initiative, which runs from 9th – 15th May 2016, aims to help young people to develop a smart relationship with money and highlights the importance of developing a savings habit.
The theme of GR8 Savers Week in Link Credit Union this year is to encourage children to become savings superheros. Children will be shown how the superpower of savings can help them to get the things they want, both now and in the future. Of course, like any superpower, if it;s not used on a regular basis, the effects can wear off!!
To celebrate this year, we ran competitions with the local schools in our common bond that participate in our DOSH’s School Savings Clubs. We had a colouring competition for Junior Infants – Second Class pupils and a short story competition for Third – Sixth Class pupils. Winners names are posted below:
Click on the winners name to view their winning entry!!
Winners: GR8 SAVERS COLOURING COMPETITION: GR8 SAVERS SHORT STORY COMPETITION:
We would like to thank all the kids for their fantastic entries and we also want to extend our thanks to the schools involved for encouraging and facilitating the pupils with their entries, making it another very successful competition this year.
Superhero themed activity sheets and top tips for parents are available to download below
Any child who opens an account with Link Credit Union will receive a free Piggy Bank to hold their saved up funds!
Here are some helpful tips for parents to help their children become GR8 Savers…..
1: Consider rewarding children for regular saving. The amount saved isn’t critical; rather it is the savings habit which it is most important to nurture. Helping children to save small amounts on a regular basis helps to imbed the habit.
2: Encourage children not to buy on impulse but to take time to consider their decision
3: Help children to identify savings goals – both short term and long term. In many cases, the concept of saving only becomes real when the child can see the rewards at the end.
4: Develop a savings plan or calendar to highlight when the goal will be achieved.
5: Give pocket money in small denominations to encourage children to put a little aside.
6: Consider linking pocket money to chores. This helps to embed the idea that money must be earned. The more effort required by the child to earn pocket money, the less likely s/he will be to squander it.
7: If pocket money runs out at an early stage, don’t rush to replace it. Providing additional money at the drop of a hat will defeat the purpose of providing a set allowance to the child.
8: Give children a piggy bank or better still, bring them down to the local Link Credit Union office to become a GR8 Saver. You can call into any of our offices and request a free Piggy Bank.