For an early start, get the kids into the Cubby Companion Club. From ages 0-11, they’ll have a great time learning how to save, spend, save, invest, share and save money. (Did we mention we stress saving)? This program for our youngest members includes newsletters designed just for them, and fun activities throughout the year. 

All about Allowances

Dear Cubby Pals,

If you need spending money, where do you get it? Do you have to ask your parents for money for things like movies or trips to the mall, or do you get an allowance? An allowance is a specific amount of money you get every week or every other week. How big an allowance usually depends on your expenses, like lunches, after school spending, weekend activities, and for savings for things like gifts or a big item like a scooter.

If you get an allowance, it’s a good idea to talk with your parents about what it is to be used for. Find out what you will have to pay for with your allowance. Also talk about whether you have to keep track of what you spend it on.

No matter how big or small your allowance is, plan to set at least some of it aside for things you need in the future. Your Cubby Companion account is a great place for those savings. Even a small deposit to your account every time you get your allowance adds up. If you save "off the top," or before you spend your cash on anything else, chances are you won’t miss it, and the money will be there when you need it.

Get into the savings habit, with your Cubby Companion account and Summit Credit Union.