Preschoolers, parents learn money management

"Have you ever seen a money tree? Is this where money comes from?" Lois Carlock asked the preschoolers in the Community Partnership for Child Development's Family Literacy program. She held a picture of a magical tree with dollar bills blooming on the branches.

Carlock is Ent Federal Credit Union's education manager. Her mission is to teach kids and parents to be smart consumers.

The class was held at Pikes Peak Elementary School, where the Community Partnership for Child Development works with families in Head Start programs.

The way to make money grow is to save, Carlock said. For small children, that means putting coins into a piggy bank.

"I put a dollar in my bank," announced 6-year-old Emanuel Lopez.

The youngsters drew a picture of a toy or something they wanted to buy. Carlock passed around coin-shaped stickers, and the kids filled the page with their faux change. The lesson showed them how saving coins can lead to that prized possession.

The class included parents because children copy their spending habits, according to a study by the Credit Union National Association.

"If we teach our children to have savings goals when they're young, they'll keep doing it," Carlock said. Getting an early start increases the chances children will learn good spending habits.

Children are bombarded with advertising, Carlock said. By age 3, they know what they want and can learn to make choices.

"They need to understand that you can't have everything." Carlock said. At the store, she said, let them choose one item. They will learn to wait for other things, perhaps getting them on the next trip.

Resisting impulse items is a hurdle for both parents and children.

"Talk yourself out of spending, and teach kids the difference between wants and needs," Carlock said. If it's not food, shelter, medical or transportation, it can probably be put off.

Carlock concluded the class by saying material things are not always the most important. Share your time and your talents and give gifts that don't cost money, she said.

JOIN ENT'S MONEY SPACE

Open a new youth account or convert an existing account by Aug. 28 and receive a free ticket to the Cheyenne Mountain Zoo and a plush toy giraffe.

For details, call Ent Federal Credit Union at 574-1100.