Tips for Creating a Savings Habit

For Kids

  • Set a goal for something you want to buy.
  • Ask for an allowance or earn money by doing jobs around the house.
  • Save a portion of any money you receive as gifts – think 50:30:20 – spend 50% on needs, 30% on wants and also save 20%.
  • Keep track of your savings to see them grow over time.

For Parents/Guardians

  • Talk openly with your child about money and saving.
  • Offer to match a portion of your child’s savings contributions.
  • Include your child in family financial decisions, show them you have to save too.
  • Encourage your child to earn money through age-appropriate tasks.
  • Celebrate savings milestones together as a family.

Your Youth Account Grows with You

At Drogheda Credit Union, we understand that the financial needs and responsibilities of our members evolve as they move into adulthood. That's why our Youth Account seamlessly transitions into an adult account once the account holder turns 16, ensuring that their savings journey continues to benefit them through various life stages.

1Continued Financial Growth

By stepping up to an adult account, the savings accumulated during childhood can continue to grow and build towards financial goals, whether it’s purchasing their first car, funding their holidays, or contributing towards college expenses.

2Access to Additional Services

Upon becoming an adult member, you also gain access to a wider range of financial products and services.

3Building Credit History

Managing a savings account from a young age demonstrates financial responsibility and can contribute to building a positive credit history, which is essential for future financial activities such as applying for loans or mortgages.