Reviewed by: Callie Morrison
These kids are earning money for good grades—find out how
Reading time: 4 minutes
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Calling all Birmingham parents! It’s never too early to teach your kids a new life skill—and that includes financial literacy.
With Kids First, local parents can open an account for children to manage their savings, learn good spending habits and even earn money for impressive grades.
We met with Larry Rudolph, a Birmingham resident with four children in the program, to discuss the importance of learning money management and his kids’ spending habits.
Kids First awards money for good grades
Did your kids recently score some cash running a lemonade stand or receive a special birthday gift? Maybe it’s time to open their own bank account.
Kids First teaches children financial responsibility through shared accounts managed by their parent or guardian. Through the program, young account holders have the opportunity to learn the fundamentals of saving, budgeting and responsible spending.
Plus, kids can even earn money through the Honors Dollars program. Bring your child’s latest report card with all A’s and B’s to any of the 20+ AmFirst branches in Alabama, and AmFirst will deposit $10 into their account.
Open a Kids First Club account today.
Meet the Rudolph family
Larry, a father of five, says that enrolling your children in Kids First is a great opportunity to show them the value of money and what can be accomplished when they learn to be good stewards of it.
In addition to teaching the advantages of saving, he says that the Honors Dollar Program provides a strong incentive for students to do well in school.
“Kids First not only encourages children to keep grades up, but it also shows them how academic success can correlate to financial security.
Seeing money accumulate in their accounts can encourage them to continue banking, learning new skills along the way.”
Larry Rudolph, AmFirst member
According to Larry, seeing how his children spend their money has taught him more about their “financial personality.”
For example, he says his oldest and youngest are the most disciplined savers, but all of them have become quite meticulous about how they spend their hard-earned cash.
Let’s meet the Rudolph family and learn a little about how they’re using their Kids First accounts to earn and save.
Phoenix—11th grade
- What you’re saving for: “I’m saving up for a new device, and also to just have money in my account.”
- What you’ve learned: “Having my own account makes me more responsible when handling money and has taught me things like budgeting and investing.”
Journey—10th grade
- What you’re saving for: “Recently, I was able to buy personalized school supplies. That accomplishment gave me a successful feeling that encourages me to save more.”
- What you’ve learned: “The biggest lesson I’ve learned is that saving money is no easy task. I’m learning to discipline myself to have a savings goal.“
Summer—8th grade
- What you’re saving for: “Occasionally I like to spend on gifts or, more recently, new school supplies and self-care items.”
- What you’ve learned: “Having a bank account has taught me that you have to save in order to spend. Financial discipline is something everybody will have to learn and it’s easier said than done. Once I save and finally purchase something I want, I feel great.“
Croix—6th grade
- What you’re saving for: “I’m saving up for a PlayStation 4 or Nintendo.“
- What you’ve learned: “I have learned to find different little ways to earn money and persevere. Before you know it, the money will add up and then you can buy things such as toys, birthday gifts and electronics.”
Open a Kids First account
With every Kids First account, you’ll receive:
- Kids First Membership Card
- Coloring book + crayons
- Bonus deposits for report cards with A’s and B’s
Ready to jump start your child’s financial education? Sign up for a Kids First account today.
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