Let's Play Save, Spend, Share, Learn Bingo!

😃 Earn your chance to win one of the two electric scooters 🚲 simply complete the three steps below! 🌟 Winners will be announced by May 15, 2023. 🌟

Step 1 ⬇️: Download your bingo board from this page or visit a First Alliance Credit Union branch to pickup your bingo board.

Step 2 ✅: Complete the different Save, Share, Spend, and Learn activities to get a vertical, horizontal or diagonal bingo on the board. 👍👍Double👍👍 your entries into the drawing when you get a blackout!

Step 3 ⬆️: Submit your finished bingo board by uploading your board on this page or dropping it off at a First Alliance Credit Union branch by April 30, 2023.

🌟Bonus Prize!

During the month of April if you visit a First Alliance Credit Union branch with your kids to open a youth account 💸 or make a deposit into an existing youth account you get a FREE 🐷 piggy bank (while supplies last)!

 

Read the complete contest terms and conditions here.

😀 Get started playing bingo with us by completing ✅ the form below to download your FREE bingo board. 👀 Check out the activities listed in each of the menu options on this page for how to complete the Save, Share, Spend, and Learn squares on your bingo board!  BONUS: If you already have a Youth Savings Account with First Alliance Credit Union you get to mark off the center square right away!

To fill out ✅ the SAVE squares ⬛ on your bingo board you can complete 👍 one or more of the following activities:

1. Open a NEW youth account at First Alliance Credit Union 💰

2. Make a deposit into your existing youth account at First Alliance Credit Union 💲

3. Open a youth certificate of deposit at First Alliance Credit Union 💵

4. Open a youth money market account at First Alliance Credit Union 🐷

5. Open a youth checking account at First Alliance Credit Union 🏧

6. Open a WINcentive account at First Alliance Credit Union 💸

Make sure to list the Save activities you've completed on the back of your Bingo Board. If you come into a First Alliance Credit Union branch you'll receive a sticker to put on your bingo board. If you complete a Save activity online put the date you opened and account on your bingo square!

The Importance of Learning to Save

The most important financial skill you can teach your child is how to save money. It’s no exaggeration to say that being able to save money can make the difference between your child being burdened with debt or living a financially stable life as an adult. 💵

While there are many ways you can teach children to save money, the best way to get your children in the habit of saving is to help them set a savings goal. For instance, if your child wants an expensive toy, use the price of that toy to give them a goal to save for. Help them figure out how much they’ll need to save, and then show them how long they’ll need to save to meet their goal. 

For instance, if your child wants to buy a $30 Lego set and they get an allowance of $20 a month, you can help your child figure out that by saving 25% of their allowance, they would be saving $5 a month and be able to get their toy in 6 months. You could also show your child that if they were to save 70% of the money they can spend, they would only need to save for two months to get the Lego set.

When you’re teaching your children to save, make sure you give them a safe place to store their money. 💰 You can go with a mason jar, a tried and true piggy bank, or even better open up a savings account at First Alliance Credit Union. They’ll be able to see their money growing when they look at their account using online banking or the First Alliance mobile app, and they’ll also be less tempted to use that money for an impulse purchase. 

To complete ✅ the SPEND squares on your bingo board complete 👍 one of more of the following activities at our partner businesses:

1. Purchase any bowl at Bloom Acai Bowls

2. Purchase any item on the "Just for Kids" menu at Moka Coffee

3. Purchase a Lil' Cheezer or PB &J kids meal at Great Harvest Bread Co.

4. Purchase any treat at Flapdoodles Handmade Ice Cream

5. Purchase a doughnut from Old Abe Coffee Co.

Make sure to list your Spend activities on the back of your bingo board. These local businesses will give you a sticker for your Spend squares! If you order online put the date you spent money and where onto your bingo square!

The Importance of Learning to Spend

Learning to spend money is by far the easiest of the three skills, not to mention the most fun. However, learning to spend money with care can be a bit more challenging. Children are often impulsive, so they don’t always think about long-term ways to spend their money. 

You can help your children learn to spend with care by teaching them to think about what they want to spend money on before they spend it. 💲 Let them know that wanting things is okay, but that they’ll have to make choices about what they want to buy based on how much money they have. If you have a child who wants to buy five toys but only have enough money for two of them, you can help your child figure out which of the toys are most important to them and which ones they can live without. 

This is also a great opportunity to teach children about needs vs wants. If your child wants to buy ice cream but they also broke their sister’s Barbie doll, they need to be responsible and replace the doll before buying something for themselves. 

Going back to the $20 allowance example from the save section, if a child saves 25% and sets aside 5% to share, they will have 70%, or $14, to spend. Encourage them to think about how they can best spend those $14, and even whether they might want to save part of that $14 for a financial goal. 💰

Remember, it’s up to you as a parent to help your children learn to prioritize their spending so they learn to only spend what they can afford at the moment. In order to help your children learn this lesson, though, you’ll need to resist the urge to give your children more money when they don’t have enough to buy everything they want. Even if your child is only a dollar short, they need to learn the important lesson that no one will give them money for free when they’re adults. 

To ✅ complete the SHARE squares on your bingo board do one of more of the the following activities:

1. Make a donation to First Alliance Credit Union Foundation online or at a First Alliance branch
2. Make a donation to the Jeremiah Program at Flapdoodles Handmade Ice Cream
3. Make a donation to Pamoja Women Organization at Old Abe Coffee Co.
4. Make a donation to the American Foundation For Suicide Prevention at Bloom Acai Bowls

Make sure to list your Share activity on the back of your bingo board. You'll receive a sticker to put on your bingo board if you make a donation in-person at a local business listed. If you make a donation online for your Share activity put the date you donated on your bingo square(s)!

The Importance of Learning to Share

While you want your children to be financially successful, you also want them to be kind. However, kindness doesn’t just happen. Instead, it needs to be taught and encouraged throughout a child’s life, starting from a young age. 

While you can teach children to share their toys and talk about what kindness is, you can also teach them how to be kind by donating 🕰️ time and money 💵 to causes they care about. Getting your children to set aside 5% of their money to share is a great way to start building a sense of compassion and empathy in children. 

The best way to start talking with your children about sharing is to talk about things that are important to them. Find out if they care about helping 🐾 animals, or if they’re worried about their neighbors going hungry or losing their homes. 🏡

Once you know what your children are passionate about, you can help them find local charities that support those passions. Then, every few months, take the 5% you’ve saved and either donate it directly to their cause or find out what supplies the charity needs most and help your child shop for those items and deliver them to the charity together. 🙌

As an example, if your child is getting a $20 allowance, putting aside 5% of that a month would be $4. After six months, your child will have $24 saved up, which is enough to buy some canned food for a food pantry, a bag of dog food for an animal shelter, or even a nice blanket for a homeless shelter. 😀 This not only helps out worthy charities—but it also lets your children visualize the difference their money can make when they buy something tangible for a charity, which is very empowering. 

If you really want your children to get into the habit of sharing, though, you should model the behavior yourself. Let your kids know what charities you support and why. You can also share stories with your children about other kids in the community who are performing acts of service with your children. 

You should also know that you can still help your children get into the habit of sharing even if they don’t get a regular allowance. You can encourage your children to hold a fundraiser, take a tour of local non-profits or even volunteer your time together at a charity you all agree is important. 

To complete ✅ the LEARN squares on your bingo board complete 👍 one or more of the following activities:

1.  Watch the kids financial literacy videos on the Money in MN page of Rochester Local's website

2. Download the SMART Goals Packet from First Alliance Credit Union

3. Download the Financial Fitness Worksheet from First Alliance Credit Union

4. Play a financial literacy game listed on Rochester Local's website

5.  Attend story time at Spark, Children's Museum at 10:30 am on April 5 or April 19

6. Visit the Rochester Public Library and check out kids books about money topics

Remember to list the activities you complete on the back of your bingo board. You'll receive a sticker to put on your bingo board if you attend an in-person Learn event. If you complete an activity online for your Learn square(s) put the date you completed the activity on your bingo square(s)!

The Importance of Learning Financial Literacy

No parent would ever dream of letting their children grow up not knowing how to read or write. When it comes to financial literacy, though, many children grow up not knowing the basics of money management, let alone how to set financial goals.  

This isn’t because most parents are bad parents. It’s because the parents themselves were never taught financial management skills, and as a result they don’t understand the importance of teaching financial literacy to children. That’s where this course comes in. 

We’ve found that the best way to teach children basic money management strategies is to use the concept of Save, Share, Spend, and Learn. This concept encourages kids to budget the money they get from gifts or allowance. When teaching this concept, we recommend having children put 25% of the money they get into saving and dedicate 5% for sharing, leaving them with 70% they can spend however they want. 

👩‍🏫 Teaching your children the importance of “Save, Spend, Share, and Learn” at a young age can sow the seeds of financial literacy. It can help them understand how to manage money and reach their financial goals.

💰 You can also find a list of resources that will help you keep learning on the First Alliance Credit Union site, including blog posts like: 

• 6 Tips for Teaching Children About Finances
• Things to Consider Before Starting an Allowance for Children
• 5 Ways to Teach Your Children Good Money Moves This Halloween
• How to Teach Your Children About Budgeting

Are you feeling good about your completed BINGO BOARD?  We are! 🤗  

👀 Go ahead and give it one last look to make sure you've got a bingo: 🌟 remember blackout earns you an extra entry into the drawing!

Upload your bingo board using the form below or drop it off at a First Alliance Credit Union branch by April 30, 2023. 

And that's it! 👍 You're entered to win an electric scooter! 🎉