If seeing your child succeed in life isn’t enough encouragement, saving for his or her future also provides the opportunity to build generational wealth for your family for years to come. And while saving may be easier for some more than others, there are both small and larger adjustments that you can make to add to your financial foundation and brick by brick, build the wall of protection your family needs to face life’s hurdles.

 Now that we have that out of the way, here are a few easy ways that you can build a habit of saving towards your child’s future within your household:

1. Find out more about Child Savings Accounts (such as BECU’s Youth Builder Account), that is geared towards children between the ages of one (1) to seventeen (17) years old. Accounts such as these can be used to foster a habit of saving for your child at a young age, help to educate them on financial literacy and provide a starting point at which they can manage their funds independently from their eighteenth (18th) birthday. 
2. Invest in a variety of high-earning facilities and business ideas to help build a healthy financial/asset portfolio. Whether you choose to Will your assets to your child/children before your passing or choose to sign them over an appropriate time, the choice of when this happens is yours. Learn more about the opportunities that exist when you speak to a FREE* BECU Financial Advisor today!
3. Track your spending. If you don’t have a lot of cash to set aside every month toward your or your child’s investment accounts, try paying closer attention to your spending habits to discover how you can better manage your funds and redirect any misspent finances towards your child’s future. 
4. Teach your child about saving. When starting children off at a young age, having a “piggy bank” or a “cash pan” might be the simplest way of instilling a habit of saving towards the future. Is there a doll or toy truck they would like to get? Work with them to save a portion of their daily/weekly allowance to achieve their goal of purchasing the desired item. This way, they learn a valuable lesson and attain their heart’s desires all at once.

 Thank us later; we’re sure you’d find one, some or even all of these tips helpful in your journey to create generational wealth and creating a solid foundation on which your little ones can stand.

To learn more about saving toward your child’s future, our products and services or to become a member, contact us at 622-4035 or email us at service@becuonline.com today!