Posts Tagged ‘children’

The Disclosures – Thank My Piggy Bank

April 3, 2013

Many of you may know the Madison-based musical duo of Christopher Morris and Chad Helminak, better known as The Disclosures. In addition to their busy touring schedule, they have also been recording some new songs for a forthcoming album.

It’s not too often that my primary job of intersects with my side project of music engineering and remixing, but when I heard that Chris and Chad were working on new songs, I jumped at the chance to mix their new album for them. They have been thrilled with the results.

Their first single, Thank My Piggy Bank was just released on YouTube, iTunes, Amazon, and CD Baby yesterday, in honor of National Financial Literacy month. Here is their fun video:

And you can purchase/download it from iTunes here. For more details on the duo and the song, their blog post is here. Enjoy!


Let’s give the kids a boost

June 15, 2010

Watching an 8-minute video created by St. Mary’s Bank Credit Union, the first CU in the United States, about its history (thank you again Andrea!), I learned that from the very early days, the credit union had a kids savings program. Children walking home from school could stop at the credit union and deposit their pennies into a tin cup, and the savings were carefully recorded.

Here’s an idea: How about if in your credit union kid’s club, you paid a FANTASTIC rate of return for these tiny balances…. say they got a quarter back in one month for two dollars deposited as a term deposit. Yes, that’s a sky-high rate of return, but the credit union would cap this great rate on a maximum of $10 or $20, and limit it to only kids 14 years old or younger. Kids would be incredibly eager to save their money, and probably track the date of maturity like a hawk. What a boost, and good life lesson.

You could give this term deposit a fun name like the Lollypop Certificate, and explain to the kids they can use their quarter earnings on anything like, or of course, to reinvest it in more savings.

We know that kids have a very short attention span, and one week seems like a year to them. One month feels like a decade. And psychology 101 tells us that the sooner the reward comes after the desired behavior, the more connection there is between the two.

Let’s help our kids develop better savings habits by rewarding them big, and relatively swiftly. They will be thrilled with their earnings of a quarter, and the credit union will be paying out a relatively tiny amount.