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The connection between holiday shopping and youth financial education was tied up in a bow, so to speak, for TV viewers as the Maine CU League discussed how parents can utilize the occasion of holiday shopping to "provide a lesson in finances including spending and budgeting." In the segment, which aired this past week on WGME CBS 13 and FOX 23, Jon Paradise of the Maine CU League offered various tips to help parents not only make holiday shopping fun with children but "a teachable moment, too."
The segment aired as part of WGME CBS 13 and FOX 23's 'Saving You Money' series, and reinforces Maine's credit unions as "proactive and leaders in youth financial education." Paradise said, "Obviously, make the exercise age-appropriate but, at every opportunity, try to involve your child in the process, from making a list to developing a budget (if they are old enought). In addition, let the children do the transactions at the check-out counter, if possible. If you do most of your shopping online, talk about not only what credit or debit is but also about making sure you are using a secure site. It's a great way for kids to learn about the value of money and about the importance of sticking to a list."
Paradise also offered the Maine CU League and local credit unions as "great resources for youth financial education. From opening a Holiday Club to withdrawing the money, there is a lot of value in youth financial education in holiday shopping. Maine credit unions are big believers in the importance of financial education at an early age, as it is much more likely to help kids become fiscally responsible adults."