Featured Image Finding the perfect gift for the children in your life can be challenging. Giving money may not sound very exciting, but coupled with the teaching of good financial habits, it’s a gift that can last a lifetime. Here are a few ideas on how to teach financial habits with monetary gifts: Young Children For toddlers, a piggy bank with lots of coins can be an excellent gift. Not only are the coins viewed as a small fortune, it helps teach the concept of counting money and savings. School-age children For this age, cash is an excellent gift, especially when you encourage savings. Financial experts recommend a 50/40/10 approach to cash gifts. Let the child have complete control of 50% of the money they receive, 40% of the gift should be deposited into a savings account and 10% percent should be donated to the child’s favorite charity. This is also a great age for your child to learn about shopping on a budget. If they have $20 to spend, but want to purchase a more expensive item, they need to decide if they want a less expensive item now or wait until they have saved enough money to purchase the item they really want. Tweens and Teens A check is a great option for the tweens and teens in your life. If they don’t already have a checking or savings account, it’s a great age to start. At Virginia Credit Union, we offer Extra Credit Checking which is available to members ages 13-22. Members under age 15 are required to have a parent or guardian on the account. Show your child how to endorse a check and make a mobile deposit. Or take them to your financial institution and have them meet the tellers as the checks are deposited. It’s never too late to teach good money habits. This year, don’t just give money to the kids in your life. Take the time to teach them good financial habits that will last a lifetime. Janet M. Hi! I’m Janet and I’ve been a Marketing Specialist at VACU for almost 3 years. In my spare time, I’m chauffeur, equipment manager and head cheerleader for my very three active daughters (teenager and identical pre-teen twins). My co-workers call me a “diva of discounts” for my ability to find discounts, coupons, and savings. Other stories by Janet M.