TOPCU Celebrates YOUTH

Thanks to everyone who came out to help us celebrate Youth Savings Month at TOPCU. We really enjoyed putting our STEM skills to work with Play-Well TEKnologies building Tucson out of Legos. Thanks also to Face Flip Facepainting and Kona Ice for the added treats.

Congratulations to Izaiah, who’s $50 guess (with help from his proud grandparents) was closest to the actual amount of coin in the TOP Star Piggy Bank – $51.23!

Throughout April we’ll be celebrating Youth Month. Download the Science of Saving coloring page here. Bring it in to any of our branches during April and receive 5 TOP Star Dollars. Not a TOP Star Kid? Don’t worry, we’re happy to get you signed up. It’s a great program to help young members to Save, Earn & Learn! Read about it here.

Here’s some great information about…

The Science of Saving

Saving your money isn’t always easy, especially when you don’t have a lot to spare. After paying all your usual expenses, there may be very little “fun” money at the end of the month. When we do find ourselves with some extra cash, like a tax refund, many of us rush out to buy those shoes or that electronic gadget we’ve been eying for months instead of putting it into our savings.

Why do we do that? Why do we spend the money we planned on using for our future?

We can blame it on our brains. Behavioral science has shown that humans are hard-wired to act on impulse and that it takes conscious thought to delay gratification. It’s also much easier to focus on the present than our future. To help you save for your future, behavioral science suggests visualizing yourself as you might look when you’re older.

Another way to help you save for your future is by making it a habit. Start with small goals. For instance, commit to putting a certain amount, say $10, into a savings account every week. If you have direct deposit, you might want to consider setting up an automatic transfer of $10 into your savings account every time your paycheck is deposited. Over time, you can gradually increase the amount by a dollar or two.

Teach Your Children How to Save

To help your children get into the savings habit, start by having them cut out pictures of something they’d like to have someday and post the images where they’ll see them often. Then help them open a savings account at TOPCU. You can open an account with as little as $5. Encourage your child to make regular small deposits each week. Tell them their money will earn interest while it’s in their account. If they keep this routine going, they’ll quickly see their savings grows.