Friday, December 29, 2017

Keiki Edition - 2018 Aloha Friday Savings Challenge

Children learn financial behaviors from their parents. Whether you realize it or not, your kids are watching you and how you spend and save money. Set a good example for them by participating in the 2018 Aloha Friday Savings Challenge and let the kids join along with this modified version. 

It's simple, every Friday of 2018 your keiki will deposit a quarter times the corresponding day of the month. For example, on Friday, January 5, 2018 the deposit is 5 quarters or  $1.25 ($0.25 x 5) and on Friday, January 12, 2018 the deposit is 12 quarters or $3.00 ($0.25 x 12). Continue to do this through the entire year of 2018 and at the end of the year, your child will have saved $206.00. I've included a chart below to help them keep track of their savings. 

Make sure that they save their monies in a safe place and that they try their best to not dip in to the savings throughout the year. 

  • Have some fun with this challenge and recycle an old bottle or box to keep their savings in. Let them decorate it, add a photo or drawing of what they want to save for for added motivation. 
  • For younger children (7 years and under), use Aloha Friday savings deposits as a learning opportunity. Let them count out quarters as they deposit it in to their bank. 
  • Bonus: It's a great way for infants/toddlers to develop their pincer grasp and fine motor skills. Caution: Keep an eye on them the entire time they are handling coins. All coins are choking hazards. Do not let them put the coins in or near their mouths. 
  • For older children, get them involved with recycling cans and bottles to use that monies to deposit in to their Aloha Friday Savings or let them clean out the car or collect quarters they find around the house to deposit.
Happy Savings! 


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