The importance of raising financially savvy kids
By Alison Stanton
When children are little, parents often spend time teaching them the names of the different coins and their values.
To raise financially savvy kids, parents must go beyond these basic lessons and talk to their kids about other money-related concepts, said Colleen Cox, senior vice president of education at Junior Achievement (JA) of Arizona.
Every year, Cox said, JA of Arizona partners with 36 Chandler schools to bring financial literacy, work readiness and entrepreneurship programs to more than 14,600 students in kindergarten through 12th grade.
To begin the dialogue, parents should review the household or a pretend budget with their kids to help them understand the concept of wants versus needs, Schelter said.
“Teaching today’s youth to be financially responsible while they are young prepares them to succeed in the real world by giving them the knowledge to make smart, educated financial decisions,” Cox said.
“It will help them avoid financial pitfalls like bad credit and bankruptcy, and will allow them to own their economic success and build a strong financial foundation to support themselves and their families.”
Jeff Schelter, vice president and senior loan officer at Alliance Bank, which has branches in Chandler, said because personal finance is typically not taught in most schools. Instead, parents need to have ongoing discussions with their children about financial literacy.
“This topic is so important because it will impact their kids throughout their entire lives,” he said.
“We all think we need the newest phone or a certain toy, but what we need for day-to-day life are things like shelter and food,” he said.
Parents can show a balanced budget and the importance of saving money.
Giving children an allowance or helping them manage monetary gifts from relatives can help them tackle the concept of budgeting, Schelter said.
“This teaches them about managing their own money and forces them early to learn to make financial decisions on a smaller scale.”
Parents should also teach their kids about interest, Schelter said, and how it will impact the amount they pay in a loan.
“Even young children can understand the basic concept of what interest is, and if they pay off a loan faster, they will have less interest to pay.”
Credit card debt should be discussed with older kids and teens, Schelter said.
“Parents can explain how credit cards are definitely one of the most expensive types of loans, and show their kids how charging just a dollar on a card with 24 percent interest can add up.”
Ryan Rothermund, associate vice president, investments at Raymond James and
Associates Inc., said a trip to the grocery store is a great place for a lesson about money management.
“Take young children to the store with you and explain why you are buying a generic product over a name brand one, and talk about quality and price,” said Rothermund, who works with clients in the East Valley.
“Also, instead of using a piggy bank, start a custodial account at a bank and have your kids deposit their money in it.”
Making even small deposits regularly will show kids how they can increase their savings over time.
“It gets them thinking that there is a process and if they stick with it, their money will grow,” he said.
Alison Stanton is a freelance writer who lives in the East Valley. She can be reached at alison@santansun.com.
RESOURCES
Websites:
Junior Achievement—www.jaaz.org Parents.com—http://bit.ly/1lW8oz3 Wall Street Journal—http://on.wsj. com/1LC6g95
Books:
“The Everything Kids’ Money Book: Earn it, save it, and watch it grow!,” by Brette McWhorter Sember
“Smart Money Kids,” by Hannah Raybans “Blue Chip Kids: What Every Child (and Parent) Should Know About Money, Investing, and the Stock Market,” by David W. Bianchi
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July 4th Fireworks Spectacular, 7 p.m. to 9:30 p.m. Pack your bags, bring your blankets and chairs and don’t forget the sunscreen. Enjoy award-winning Tumbleweed Park and all it has to offer—Playtopia, sand volleyball, horseshoes and corn hole. Food and nonalcohol beverages will be available for purchase throughout the evening. After all the family-made fun, sit back, relax and watch the fireworks show presented by the City of Chandler. The park opens at 7 p.m. and fireworks begin at 9 p.m. Tumbleweed Park 2250 S. McQueen Rd., Chandler. Parking: $5. (480) 782-2735, www.chandleraz.gov/4thofjuly.
5, 10, 11, 12, 17, 18, 19, 24, 25, 26, 31 Junior Architect Tours at Taliesin West, 10:30 a.m. A family-friendly tour for adults with aspiring architects who enjoy LEGO and Minecraft. This tour is tailored specifically for adults with children ages 4 to 12 and offers a glimpse into the adventurous spirit of Frank Lloyd Wright, his apprentices and the story behind the creation of Taliesin West. Children participate in an engaging art activity as part of this experience. Taliesin West, 12345 N. Taliesin Dr., Scottsdale. Ages 4 to 12: $7; Students: $20; adults: $24. (480) 860-2700, www.franklloydwright.org.
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Family Monday Movie Night, 6 p.m. to 8 p.m. Celebrate the summer “hero” theme with action-packed adventure films every Monday. Bring the family and munch on some free popcorn. Movies are rated PG-13. Downtown Library Copper Room (former City Council Chambers), 22 S. Delaware St., Chandler. Free. (480) 782-2800, www.chandlerlibrary.org.
6, 13, 20, 27
Family Story Time, 6:30 p.m. to 7 p.m. Join the 30-minute High Five Program where stories and activities are developmentally appropriate for all ages. Basha Library Programming room, 5990 S. Val Vista Dr., Chandler. Free. (480) 782-2800, www.chandlerlibrary.org.
6 Imagination Stations, 3 p.m. to 4:30 p.m. Get out of the heat and enjoy some creative fun. Self-paced stations will include painting, card making, crafts, educational games, manipulatives and more. Fun for all ages. Ages 2 to 10. Pre-registration required. Chandler Community Center, 125 E. Commonwealth Ave., Chandler. Resident: $8; nonresident: $11. (480) 782-2730, www.chandleraz.gov/registration.
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Intro to Fossil Identification, 6 p.m. to 7:30 p.m. More than 300 million years ago most of Arizona was covered by a shallow inland sea that left behind thousands of marine fossils. Learn about the basic properties of how fossils form and what types are common to Arizona. Children must be accompanied by a guardian. Ages 7 and up. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Resident: $3; nonresident: $5. (480) 782-2890, www. chandleraz.gov/eec.
6, 8, 10, 13, 15, 17, 20, 22, 24, 27, 29, 31
Tumbleweed Tots, 12:30 p.m. to 2:30 p.m. This indoor play area is designed for children 5 years of age and younger to play under parental/guardian supervision. This fun, safe and clean area will have plenty of toys, equipment and activities that are sure to keep the kids entertained. Maximum of four children per adult. Tumbleweed Recreation Center, 745 E. Germann Rd., Chandler. Resident: $2; nonresident: $3. (480) 782-2900, www.chandleraz.gov/tumbleweed.
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Family Story Time, 10 a.m. to 10:30 a.m. The whole family is welcome for this story time featuring favorite stories and songs. Preschoolers 3-5 years old, toddlers 18-36 months. Downtown Library Copper Room (former City Council Chambers), 22 S. Delaware St., Chandler. Free. (480) 782-2800, www.chandlerlibrary. org.
7, 14, 21, 28
Family Story Time, 6:30 p.m. to 7 p.m. Join the 30-minute High Five Program where stories and activities are developmentally appropriate for all ages. Sunset Library Monsoon Room, 4930 W. Ray Rd., Chandler. Free. (480) 782-2800, www.chandlerlibrary. org.
7, 14, 28
Family Story Time, 6:30 p.m. to 7 p.m. Join the 30-minute High Five Program where stories and activities are developmentally appropriate for all ages. Hamilton Library Programming Room, 3700 S. Arizona Ave., Chandler. (480) 782-2800, www.chandlerlibrary. org.
7, 14, 21, 28
Get Reel Documentary Film Series, 6:30 p.m. to 8:30 p.m. Chandler’s Downtown Public Library will present a free documentary film series this summer from 6:30 p.m. to 8:30 p.m. Tuesdays through Aug. 11. Library Copper Room (former City Council Chambers), 22 S. Delaware St., Chandler. Free. (480) 782-2800, www.chandlerlibrary.org/get-reel.
8 Cowboy Cookout, 7:30-9 a.m. Start your day with a big cowboy breakfast in the park. Get geared up in your Old West attire and help prepare your own breakfast in true traditional style over the camp fire and in Dutch onvens. All ages. Veterans Oasis Park, 4050 E. Chandler Heights Rd., Chandler. Free. (480) 782-2890, www.chandleraz.gov/eec.
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Kids Club, powered by National Geographic Kids, 10 a.m. to 11 a.m. Chandler Fashion Center teamed up with National Geographic Kids to create activities and games that focus on discovery through play. Chandler Fashion Center, in the Gap wing near the Food Court, 3111 W Chandler Blvd., Chandler. Open to the public, no fee. (480) 812-8488, www.ShopChandlerFashionCenter.com/KidsClub/.
9, 16, 23, 30
Chandler Farmers Market, 3 p.m. to 7 p.m. The market offers fresh local produce, prepared goods, desserts and some crafts on select days. All items are grown in Arizona or are homemade from local vendors.www.chandlerfarmersmarket.com.
9, 23, 30
LEGO Club, 3:30 p.m. to 4:30 p.m. We supply the LEGO. You supply the imagination. Ages 5-12. Downtown Library Copper Room (former City Council Chambers), 22 S. Delaware St., Chandler. Free. (480) 782-2800, www.chandlerlibrary.org.
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‘80s Free Friday Flick & Fun Night, 5:30 p.m. to 7:30 p.m. Enjoy a different family film plus a related activity each Friday. Chandler Community Center, 125 E. Commonwealth Ave., Chandler. (480) 782-2727, www.chandleraz.gov/comunity-center.
10, 11, 17, 18, 24, 25, 31
ImprovMANIA, 7 p.m. Join ImprovMANIA every Friday and Saturday night for a family-friendly comedy show. ImprovMANIA’s improv comedy shows are fast-paced, live comedy shows made up on the spot based on audience suggestions like the show “Whose Line Is It Anyway?” Prepare for a night of laughter in Downtown Chandler. ImprovMANIA, 250 S. Arizona Ave., Chandler. $10 per person. (480) 699-4598, www.improvmania.net.
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After Dark in the Park, 7 p.m. to 9 p.m. Beat the heat and enjoy an evening of nocturnal nature. Spend the evening catching and identifying some of the common insects flying around the porch lights at night. Find out what they are, what they eat and what eats them. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Free. (480) 782-2890, www.chandleraz.gov/eec.
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Donuts and Dads, 9 a.m. to 9:45. What’s more fun than baking donuts with dad? Ages 3 to 6. Tumbleweed Recreation Center, 745 E. Germann Rd., Chandler. Resident: $6; nonresident: $9. (480) 782-2900, www.chandleraz.gov/tumbleweed.
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Intro to Fossil Identification—Field Trip, 9 a.m. to 4:30 p.m. This day-long event of collecting includes transportation and a geologist to answer questions. Bring water, snacks, comfortable shoes and clothing to meet any weather conditions. Children must be accompanied by a guardian for the trip. Ages 7 and older. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Resident: $26; nonresident: $35. (480) 782-2890, www.chandleraz.gov/eec.
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Meet the Creature. 11 a.m. to 11:45 a.m. In this interactive program, children will get up close and personal with live animals while receiving a fun lesson in wildlife rescue and conservation. Each program features different fascinating animals from around the world. Registration required. Children ages 2 to 12 must be accompanied by a paid adult. Instructor: Lisa Limbert of Lisa’s Creatures & East Valley, Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Resident: $6; nonresident: $9. (480) 782-2890, www.chandleraz.gov/eec.
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Teenage Mutant Ninja Tortoise, 9 a.m. to 10 a.m. Stop by the Desert Tortoise habitat at Veterans Oasis Park and meet our resident Sonoran Desert Tortoises. Learn about what adaptations make these animals so fascinating, then head inside for a desert tortoise craft. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. (480) 782-2890, www.chandleraz.gov/eec.
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Atomic Comic Superheroes, 8 a.m. to 10 a.m. Dress up as your favorite blast from the past superhero and enjoy retro games on deck and in the water. Folley Pool, 600 E. Fairview St., Chandler. $1 family swim fee. (480) 782-2750, www.chandleraz.gov/aquatics.
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Jellyfish in a Bottle, 4 p.m. to 5 p.m. This class for youth has a science theme and is an easy, clever craft to make. Reduce, reuse, recycle. When the project is complete, the “jellyfish” inside the bottle actually looks real. For ages 8 to 12. Tumbleweed Recreation Center, 745 E. Germann Rd., Chandler. Resident: $6; nonresident: $9; Supply fee: $5. (480) 782-2900, www.chandleraz.gov/tumbleweed.
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LEGO Club, 3:30 p.m. to 4:30 p.m. The library supplies the LEGO. You supply the imagination. Ages 5 to 12. Basha Library Programming Room, 5990 S. Val Vista Dr., Chandler. Free. (480) 782-2800, www. chandlerlibrary.org.
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Nintendo Night, 3 p.m. to 5 p.m. Nintendo NES made its debut 30 years ago in 1985. Dress as your favorite character and enjoy an evening of gaming fun by a big screen poolside. Desert Oasis Aquatic Center, 1400 W. Summit Pl., Chandler. Youth: 25 cents; adults: 75 cents. (480) 732-1061, www.chandleraz.gov/aquatics.
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‘80s Rock Concert, 6 p.m. to 8 p.m. Rock out to ‘80s classic rock music and dance the night away poolside. Nozomi Aquatic Center, 250 S. Kyrene Rd., Chandler. Youth: 25 cents; adults: 75 cents. (480) 7838261, www.chandleraz.gov/aquatics.
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Family Night at the TRC, 5:30 p.m. to 7 p.m. The first and third Wednesdays of the month enjoy a variety of different recreational activities and entertainment. Tumbleweed Recreation Center, 745 E. Germann Rd., Chandler. Youth: $2 resident; $3 nonresident; teens: $3 resident, $5 nonresident. For more information contact Michael Fenzel, (480) 782-2908. www.chandleraz.gov/breaktime.
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LEGO Club, 6 p.m. to 7 p.m. Are you a Master Builder, do you love LEGO? Come to the LEGO Club and let your imaginations take flight. We supply the LEGO and you supply the creativity. Ages 5 to 12. Hamilton Library Programming Room, 3700 S. Arizona Ave., Chandler. (480) 782-2800, www.chandlerlibrary.org.
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Bug Zoo! 10 a.m. to 10:45 a.m. Explore a real, live collection of bugs with a certified entomologist. Learn about beneficial bugs, such as butterflies, ladybugs and bees. Discover interesting insects and other creepy-crawlies. Each child will receive a free activity book. Preregistration required. Ages 3 to 6. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Resident fee: $3; nonresident: $5. (480) 782-2890, www.chandleraz.gov/eec.
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Chandler Art Walk, 6 p.m. to 10 p.m. The Art Walk provides a fun family atmosphere where you can browse more than 50 talented local art vendors. It’s a monthly event featuring artists and musicians, and is a great opportunity to visit all of the unique establishments in downtown Chandler. Every third Friday from 6 p.m. to 10 p.m., downtown Chandler. All artists must go through a jury process to be accepted in the Art Walk. Only fine art and fine craft submissions will be considered. TechShop Chandler, 249 E. Chicago St., Chandler. Free. www.chandlerartwalk.com.
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Dive-In Movie, 8 p.m. to 10 p.m. Join the group for an in-water showing of “Back to the Future.” Mesquite Groves Aquatic Center, 5901 S. Hillcrest Dr., Chandler. Youth: 25 cents; adults; 75 cents. (480) 7822635, www.chandleraz.gov/aquatics.
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Friday Feeding Frenzy! 3:30 p.m. to 4 p.m. Have you ever wondered what animals at the EEC eat for dinner? Have you ever seen a snake stalk its prey? Join us on the first and third Friday of each month for a live animal feeding. Meet the animals in our nature center and learn about their diets. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Free. (480) 782-2890, www.chandleraz.gov/eec.
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Mountain Bike 101: Beginner Ride, 6 a.m. to 8 a.m. Join the San Tan Shredders for a beginners ride where basic skills that every mountain biker should know, will be taught. Topics covered range from proper riding position to braking and how to navigate uphill and downhill climbs. Helmets are required. Bring plenty of water and an extra tube. All riding abilities welcome. Participants will meet at the main trailhead west of the Visitor Center. San Tan Mountain Regional Park, 6533 W. Phillips Rd., Queen Creek. $6 park entry fee per vehicle. www.maricopa.gov/parks/santan.
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Muffins and Moms, 9 a.m. to 9:45 a.m. Make muffins with mom. Ages 3 to 6. Tumbleweed Recreation Center, 745 E. Germann Rd., Chandler. Resident fee: $6; nonresident fee: $9. (480) 782-2900, www.chandleraz.gov/tumbleweed.
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Sonoran Desert Simplified, 7 a.m. to 8 a.m. This is a lush, diverse desert with a number of interesting residents. This 1-mile hike focuses on desert plants and animals. Participants will meet at the flag pole. San Tan Mountain Regional Park, 6533 W. Phillips Rd., Queen Creek. $6 park entry fee per vehicle. www. maricopa.gov/parks/santan.
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Summer Full Moon Nature Hike, 7:30 p.m. to 9 p.m. Come join the group for an hour-long moon-lit hike at Veterans Oasis Park. Bring your own flashlight. Environmental Education Center, 4050 E. Chandler Heights Rd., Chandler. Resident: $3; nonresident: $5. (480) 782-2890, www.chandleraz.gov/eec.
