NBSB Celebrates National Financial Awareness Day with Shared Resources
National Financial Awareness Day is a perfect time to evaluate your financial health. You need both the tools and knowledge to start this journey and put your plan into action. Sound financial health can help reduce anxiety, reach your goals, save for large purchases, and even ensure you will be able to comfortably retire.
The materials and resources below will help you and your family members make the most of your financial literacy journey and are grouped by age. Test your knowledge and see how much you already know and what you still need to learn to take control of your financial health.
- Learn to Budge
- The importance of living within (or below) your means
- Understand Short Term vs. Long Term goals
- Rational Thinking about purchases
- Learn about credit
- Learn about loans
- Bankaroo teaches kids to manage their budgets, save up for goals, and be money smart. In Bankaroo, kids have access to their own virtual bank accounts that parents can add funds to as they wish or in the form of a scheduled allowance.
- iAllowance is a helpful tool for you to manage your kids’ allowances using real money. The app allows you to create incentives and use push notifications to remind your kids to finish their duties in time to receive their money.
- RoosterMoney is a free kids’ allowance and chores app. It is designed to help parents teach their children how to manage allowances, set chores, and save for goals.
- Money Monster story series focuses on important money concepts like borrowing, earning, protecting, saving, and spending to help introduce children to ideas, habits, and activities they will need as they grow up and start to manage their own money.
- MoneySmart Programs through FDIC:
- MoneyThink Mobile has been dubbed the “Instagram for money.” Teens complete digital challenges that build financial awareness, habits, and skills. After completion, they are rewarded with points and social affirmation (in the form of digital likes and comments), like the photo sharing platform.
- FamZoo has been featured in both The Wall Street Journal and New York Times. It is designed to help teens take more responsibility for their own personal (real-life) spending, while helping them understand how to budget and how to save.
- Mindblown Labs offers financial education presented as a game, helping teens learn about finances and retirement in a fun, exciting way.
- NEFE’s High School Financial Planning Program (HSFPP) makes it easy to empower teens with money management skills. Teachers and parents can order printed booklets or download the free turnkey curriculum.
- MoneySmart Programs through FDIC: https://www.fdic.gov/consumers/consumer/moneysmart/young/grades-6-8.html
North Brookfield Savings Bank offers many ways to help you, or your child become financially literate and confident.
- Soon, we will return to hosting our FREE 5-week Financial Literacy Course at local schools, libraries and senior centers open and helpful to people of all ages.
- We also offer learning lessons for all our online products and services, available by appointment via phone or through our website. You can make an appointment through our website: https://www.northbrookfieldsavingsbank.com/schedule/ .
- Digital Learning Videos are available on our website, which gives step by step directions on everything from Online Banking and Bill Pay, depositing checks with your phone to adding savings goals, track you’re spending, creating a budget and much more!
North Brookfield Savings Bank’s options for Students:
High Five Savings Account: Offers a Premium Rate* and is available to children and young adults under 19 years of age, Minimum to open: $1.00, NO minimum weekly deposit required, NO monthly service charges, FREE 24 hour telephone banking at 800-433-3781, FREE Online Banking, FREE Mobile Banking with Deposit on the Go, Direct deposit, Cash for good grades. Parent or Guardian must be on account with Minor.
Teen Checking Account: Non-interest bearing account available to teens ages 15-18, Minimum to open: $10.00, FREE basic style checks up to conversion of account at age 19, FREE unlimited checking, FREE ATM transactions at SUM® & MoneyPass® ATMs, FREE Debit card, FREE Online Banking, FREE Mobile Banking with Deposit on the Go, FREE 24 hour telephone banking at 800-433-3781, eStatements for monthly account statement, Direct deposit. Parent or Guardian must be on account with Minor.
Cash for Good Grades Program: The cash for good grades incentive is a maximum of $20.00 per school year, with a maximum of $5 per quarter. To receive cash for good grades, report cards showing a GPA of at least 3.0 or equivalent must be submitted to a North Brookfield Savings Bank branch location. The incentive will be deposited into the student’s account.
School Banking Program: North Brookfield Savings Bank is present in North Brookfield, East Brookfield and Brookfield Elementary. If we are not participating at your child’s school, we can provide this service in branch as well. If your child already has a North Brookfield Savings Bank account, they can begin depositing into their account during School Banking Days immediately. If your child does not yet have a North Brookfield Savings Bank account, you can visit us at any convenient branch location to open a student account. Once the account is established your child can then make deposits on their scheduled School Banking Days or visit any branch to make a deposit.
You will need to bring the following materials when you visit to open an account:
- Your child’s social security number
- Minimum funds to open account. Visit com/student-banking
to view the available student banking accounts.
- Your child’s Birth Certificate
- Valid Photo ID for Parent or Guardian
- Photo ID of child if applicable (school ID, Learners Permit)
Super Savers League Program: Each student who is interested can receive a League Card by visiting the School Banking table. Each time the student makes a deposit they will receive a stamp. When they have received 5 stamps, they will earn a prize as a savings incentive. When the student makes their first deposit, they will receive their very own blue deposit pouch to carry their deposits to and from school.
Pairing these learning opportunities with the great products at North Brookfield Savings Bank can help prepare your children for a stable and reliable financial future.
North Brookfield Savings Bank’s Options for Adults
Many options are available to help you automate and track your spending and budgeting. In conjunction with our Free** Checking and Statement Savings account products. This can help you avoid low balances, save for a purpose, and manage all aspects of your spending.
Directly within your online banking:
- Savings Goals: create a goal and manage your goals and track progress.
- Budget Feature: automatically review your account to create a budget based on how you use your account. This will break down what you use over time on specific bills or functions, as well as the 12-month average to see how small expenses are adding up along the way.
- Alerts: You can sign up to receive an alert whenever you would like. Set these up to help you know when a withdrawal is done from your accounts, when a direct deposit hits, when a check is clearer, low balance warnings, debit card purchases and more! Keep the control at your fingertips by monitoring your account on the go!
- Automatic Transfers: This could be set up through your online baking or in the branch and can transfer funds automatically on a scheduled basis, or you can automatically set up transfers to happen when the balance is running low in your account. Instead of putting your account negative, it will just pull money from your savings, and better yet: the charge is only $5 instead of $28!
** Minimum to Open is $10 for Free Checking Account and Statement Savings Accounts.