Spend Well

When we make thoughtful choices about how we spend money,
we become better consumers.

All Money Topics

Six Major Ways to Spend Money

Cash
Credit
Check
Online payment (bill pay)
Debit card
Gift card (stored value card)

What’s a Debit Card?

Tied to an account
Funds are withdrawn immediately when used

What’s a Credit Card?

A form of borrowing
Once-a-month payment
Interest accrues if bills aren’t paid in full each month

Deciding Which Payment Method to Use

Choose a payment method that’s easy to use.
Pay in a way that helps you keep track of your spending.
Use a payment method that keeps you from overspending.

Benefits of Having a Bank or Credit Union Account

You establish a credit rating.
You receive many financial services for free—or for a small fee.
It’s easier to keep track of your money.
Some pay you (called interest).

Money Topics for Parents:

12 Key Financial Topics to Cover With Your Children and Teens.

Talk Well:

When we talk at home about money in
honest and caring ways, we're better prepared to help children and teens make better money choices.

Borrow Well:

Sometimes you need money when you don't have it. Maybe your child or teen wants to borrow money to buy a gadget at an electronics store. Find out the pros and cons of borrowing.

Budget Well:

Your child or teen may want to attend an arena concert. Understanding budgets helps us and our kids make better decisions about money.

Dream Well:

We get closer to our dreams for the future—and so do our kids—when we set financial goals. Attending a university is a dream for many of our children.

Earn Well:

Getting paid for our work gives us a sense of accomplishment. Working in a place like a restaurant can do the same for our children and teens.

Give Well:

When we give thoughtfully, we help causes and charities that the entire family cares about.

Invest Well:

When we invest well, we can increase our wealth over time. Investment traders and
other people with knowledge can help with
this process.

Live Well:

Whether our kids are at home or in the park, we’re aware of what they need to succeed with their money and all aspects of their lives.

Protect Well:

By protecting our kids and ourselves–even while driving a car–we can create a financial safety net during tough times.

Save Well:

When we save well, we are more likely to reach our financial goals like taking a vacation or buying a house. Having a bank account can help with saving.

Spend Well:

When we make thoughtful choices while at the mall about how we spend money, we become better consumers.

Move Forward Well:

Before and after high school, the more our kids know about money, the better decisions we can all make to move forward.