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Money Matters Blog

Friday, February 15, 2019

School Spotlight: Meads Mill Students are Saving for Their Future!

Education Partnership Coordinator, Julie Blaylock,
with Meads Mill Student-Run Credit Union
2nd quarter volunteers.
At Meads Mill Middle School in Northville, Student-Run Credit Union members often speak to Education Partnership Coordinator, Julie Blaylock, with excitement about the things they are saving their money for. Students mention things like a new phone, video game, vacation, outings with friends, new clothes or a pet. Some students are already saving for a car or college!

When students come to Meads Mill from elementary school, many of them have already been saving at their elementary Student-Run Credit Unions for several years. These students have established some great savings goals for themselves.

Other students who have not joined the Student-Run Credit Union yet may be thinking more about the importance of saving for their future now that they are in middle school. As students get older, they have bigger and more expensive needs and wants. Parents often teach their children about the responsibility of paying for those needs and wants in an effort to teach them the value of money.

A view of the Student-Run
Credit Union experience.
The Value of Money
Whether students have earned money from an allowance, a part-time job, or an entrepreneurial endeavor, these kids are learning the value of money and understand that money is a limited resource. Money that students have earned is most often protected and valued, rather than money that has simply been given.

Student credit union members come to understand that a savings account is a great tool to help them reach their savings goals both big and small. With a savings account (and a little guidance) the concepts of “paying yourself first,” keeping track of your money, making a budget, avoiding unnecessary spending, and being a smart shopper are often learned.
Students choose a prize for their
money saving efforts.

The barrage of marketing campaigns targeting teens with the latest and greatest, and the desire for immediate gratification, challenges students prioritizing their needs and wants. It can seem like saving for the future is unrealistic; it’s not! Meads Mill has many student savers who have easily saved small amounts of money at each Student-Run Credit Union. These students are seeing how quickly their money grows into a substantial savings. Take a look at these expert student savers from Meads Mill!





Your Turn: What about you? Are you a student saving for your future? Tell us your success story!

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