While summer is in full swing, back-to-school is right around the corner. This is a perfect opportunity for parents to begin (or continue) teaching their kids important money lessons. Familiarizing them with money topics early will help prepare them for their financial future. Chase provides families with the tools and resources to be better prepared.
To help prepare for the year ahead, Chase is hosting a Back-to-School event at its Crenshaw Community Center branch at 4401 Crenshaw Blvd on Wednesday, August 2. The event will feature school supplies giveaway, activities for the whole family, financial health workshops, and more. Here are a few important lessons parents and kids can learn to help on the first day of school and beyond:
Ace the Art of Budgeting
As your child enters middle school, high school and beyond, they will also grow to be more financially independent. For instance, they may be working their first part-time jobs, saving for college or setting their sights on a big-ticket item.
Chase’s Monthly Budgeting Worksheets help make this process simple. Entering monthly income and expenses can help your teen differentiate “needs” and “wants” and see where their money is going. This is incredibly important as they begin cashing and spending their first paychecks.
Laying the Groundwork for Earning and Saving
It’s never too early to start teaching your kids about money and get them started with their own bank account. This opens the door for important conversations about the basics of money, such as spending and saving. Second, it gives the child a sense of independence and freedom, where they can decide whether to spend the money they earn from their monthly allowance or save it for the future.
Chase offers the tools and resources to make saving easy. Autosave can help reach savings goals by setting up automatic monthly transfers from your Chase checking account to your savings account. All managed through the Chase Mobile® app, parents can help their child set a savings goal to ensure they build a strong financial foundation.
The Right Tools To Manage Their Growing Finances
Growing up means your child may have added responsibilities of managing school, a job and their social life, or determining what’s next after graduation. It may also be the first time they’re managing their own finances. The more education, guidance, and experience they have with money, the better equipped they’ll be to handle what comes next.
The Chase Mobile app is a helpful companion tracking earnings, savings, and expenses, along with using Zelle® to send and receive money.
Just as kids advance through grades, they can progress in their understanding and management of money too. As a parent, helping your child embark on a journey toward financial independence is one of the most impactful lessons you can provide. Opening their first bank account can perfectly complement these lessons. Be sure to check out Chase First BankingSM, Chase High School CheckingSM, and Chase College CheckingSM, to see which account works best for your student. If you are interested in learning more about our suite of family banking solutions and resources, visit chase.com/StudentBanking.
Join Chase to Learn More
Swing by the Chase Crenshaw Community Center branch at 4401 Crenshaw Blvd on Wednesday, August 2 from 4 p.m. to 8 p.m. for a complimentary family back-to-school event. The first 1,000 attendees will receive backpacks full of school supplies and other goodies. Plus, there will be lawn games and crafts for all ages, plus financial health workshops to learn about the importance of budgeting and smart spending when preparing for the new school year. We hope to see you there!
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