Raising Money Smart Kids

Every year, American children receive more than $15 billion in allowance, gifts and wages - reason enough to start teaching children money management and consumer skills at a young age. The following tips can make the difference between a child who grows up to be financially secure – and one who doesn't.


Teach by example... The best way to instill good financial habits is by "walking the talk." For instance, when you go shopping, include your kids in the process – planning, budgeting, and comparing prices and quality. If they urge you to buy something that is over budget, explain that spending more on the item you're purchasing today is not as important as saving up for something else you need or want in the future.

Live within your means... Children who learn to prioritize their spending learn the most valuable money management lesson – to live within their means. Reinforce the message by not jumping for the credit cards or giving extra money just because your children ask. When kids want an expensive "status" item, like hundred-dollar athletic shoes, consider having them pay the portion of the price that exceeds what you think is reasonable. They'll appreciate the item more and may think twice about paying that much when they outgrow this pair in six months. If you choose, go ahead and lend money, but treat it like a real loan. Charge reasonable interest and set a time frame for repayment – it will teach them how loans and credit in the real world truly work.

Encourage savings... For your sake and theirs, encourage your children to make saving a fixed category in their spending plan. Discuss goals and calculate how much should be put away each month. Break down savings into long-term, for college or a car, and short-term, for a new bike or a senior trip to Europe. If you see your children about to make a mistake in spending their allowance, let them. Better to learn on a small scale now, than lose money with big mistakes later.

It's never too early (or too late) to develop healthy financial habits... The rewards of wise money management are the same for adults and children alike – a greater appreciation of what you have, a sense of empowerment when you reach your goals, and long-term financial security.

Check out PiggyBanc ... 
PiggyBanc® is an exciting, safe and fresh approach to getting children on the right financial track early. Through our website, you can fund a child’s savings account with just a few simple keystrokes. Friends, family, and relatives can contribute to their account any time of the day. Best of all, the PiggyBanc membership will teach your children about the importance of a savings program and strategy. All funds are transferred to and can be tracked at LA Financial.

Why Throw Away Money? CU Members Save with Sprint!

Savings Just Got Social

Introducing PiggyBank - A Fun Way to Help Kids Save Online! Learn More at PiggyBanc.

How Much Do Americans Spend on Thanksgiving?

Canned Food Drive

We have partnered with the Norwalk Rotary Club to collect cans and household goods to support the Norwalk Social Services Center. Collection containers will be available in all L.A. County branches now through December 20th. Thank you for your support.

International Credit Union - October 21

Join us in celebrating International Credit Union Day - October 21

Given the resiliancy that credit unions have shown throughout this economic recession, this year's international credit union day theme "Local. Tructed. Serving You." focuses on credit union's community-focused approach to member service.

The Gran' Scam of Things

LA Financial is the Executive Producer of the new film, "The Gran' Scam of Things." The film, written and directed by Leor Baum, follows Gladys Weiss an elderly woman who goes on an unusual journey as she receives her first e-mail. The film draws attention to elder financial abuse, internet scams and check fraud. The film is currently in post-production but here is a teaser.

Volunteer in L.A. County

I always wondered why somebody didn't do something about that. Then I realized I was somebody.--Lily Tomlin

If you want to lift yourself up, lift up someone else. -- Booker T. Washington

In every community there is work to be done. In every nation there are wounds to heal. In every heart there is the power to do it. -- Marianne Williamson

“It’s better to give than to receive,” is a wise old adage that really applies to the American spirit of Volunteerism. Some of the benefits of volunteering are:

Helping to solve a problem you care deeply about;

Improving your environment;

Learning new skills;

Meeting new people who share your interests;

And getting a warm feeling of knowing you are making a difference!

My first experience with being a volunteer occurred during the 1984 Summer Olympics in Los Angeles, and because it was so positive, I continue to volunteer. I served as a Hospitality Volunteer where I was able to mingle with foreign and domestic dignitaries, athletes, and judges. I learned the art of diplomacy, and had an amazing experience while helping people from all over the world.

I love to volunteer because I know I am improving my community and I am able to see the direct result of my efforts. I have been reflecting on the amazing spirit of Volunteerism in America as I remember the responses to need that occurred after the September 11th attacks nine years ago, and Hurricane Katrina (August 29, 2005). People came together to help each other in a dramatic way that really sped the healing and recovery of the people involved in those events.

A few years ago, I had the honor of helping to restore City Park in New Orleans, Louisiana. The 1,300 acre park, which had always been a place for recreation and relaxation had been horribly damaged by Hurricane Katrina. This was very sad because the people of New Orleans needed their park as a place of respite to escape the daily stress of recovering in the city. It was a great feeling to know I was taking part in returning this beautiful area to a useful place of refuge.

If you have an urge to make a difference, there is good news for you right here in L.A. County! The need for your talent is great - All it takes is a passion, and some time and effort. First, consider what you are concerned about (the homeless, the environment, animals, a cure for a disease, etc.), then inquire about existing organizations who might need your help. There are some amazing online resources that will help to connect you to those organizations such as:


Volunteer Los Angeles http://www.volunteerlosangeles.com/

Volunteer Center of Los Angeles http://www.vcla.net/


L.A. Works http://www.laworks.com/

211 L.A. County http://www.211lacounty.org/disaster/updates/VOLUNTEER%
20OPPORTUNITIES.pdf

American Towns http://www.americantowns.com/ca/losangeles-make-a-difference


You can also do an internet search on a particular non-profit organization or cause. If you can’t find the right organization, think about starting your own!Think about how you would like to contribute and how much time you have to devote to your cause. Make a time commitment that is realistic (one hour a week if you are really busy, full time if you don’t have any other commitments or anything in between); then schedule it. Every kind of skill is needed, and sometimes, the most important “skill” is the ability to just show up and be there! So get going. Before you know it, you will start to make a difference in the quality of life right in your own backyard!

Sea World Discount Tickets

Looking for something to do this summer. We're offering discount tickets to Sea World. Click here for more information or to order tickets.

Have you seen our new commercials?

Here is BreakUpWithMyBank.com Dr. Bill Fees.