Champion Chatter
September 2006

CCU members who are 17 and under and are not young savers club members, don’t forget to sign up in January (or sooner if you want) to join the club. Young savers club members need to make a deposit of at least $10.00 each month from January to December and have their young savers club card stamped each time. If they do that, they are on their way to earning a $10.00 bonus deposit.

Our young savers are very important to CCU, and we know that sometimes learning about managing your money can be hard, like when you first learn to ride a bike. When you first started learning to ride, you probably fell down a few times before you really mastered the right way to ride. We know that sometimes you may even make mistakes when you are managing your money, but we also know that you can learn from those mistakes! Here are some of the most common money mistakes that are made. Avoid them and you can learn how to make smart spending decisions!

1. SPENDING YOUR MONEY ON POOR-QUALITY OR UNNECESSARY ITEMS. Think about what you want to buy. How much will you use it? Remember to save your receipt, if you have a problem with the item, Mom or Dad can help you return it.
2. LOSING YOUR MONEY. When you need to carry cash, keep the dollar bills and coins in a wallet, coin holder or pocket, out of sight from strangers. Before you go shopping, decide how much money you'll need and take only that amount.
3. BLOWING ALL YOUR MONEY AT ONCE. Creating a plan for how to use your money can help you get more for your money. For example, you may decide to spend a small portion of your weekly allowance on treats and deposit the remaining amount in your Young Savers account in order to save for a bigger item later, like a new bike.

Don’t get discouraged if you feel like you aren’t saving enough… just remember what Champ says:

"Saving isn't about the amount… It is about the habit!"

Practice regular saving and you will be a Champ too!