Managing money is a foundational life skill. There are so many factors involved and so many open-ended questions at play. How much should you be saving? When is it worth spending more? How do you keep spare change from burning a hole in your pocket? It takes years of discipline and training to perfect this skill, and ongoing self-control to maintain it.

That's why it's best to give your kids a head start on money management and saving.  As a parent or guardian, remember that the lessons you plant today will take root and blossom, enriching your child's life for years to come.

Here at Health Care Family Credit Union we understand the enormity and difficulty of this task.  In honor of National Credit Union Youth Month, we're focusing on ways to help make this process as smooth and as simple as possible.

Health Care Family Credit Union is proud to offer specialized savings accounts that are designed just for kids.

We know that different ages and stages have different needs.  That's why we offer Wild Bunch accounts for children aged 0-12, as well as FasTrack accounts for teens aged 13-17.

Our youth savings accounts offer no annual fees, competitive interest rates and quarterly dividends to help you teach your child that saving money always pays.

We're more than just a place for your kid to keep their money, though.  We also want to help your young ones learn all about money management.  To do that, we go out of our way to make banking fun and kid-friendly.

Ready to open an account for your child?  Does your child already have one?  read on for three steps to take fore ensuring your child gets the most of a new existing account:

1.)  Set A Goal
Now that your child's money will be sitting in an account instead of a piggy bank, let her use this opportunity to save up for something big.  Sit down with her and discuss what she'd like to save for.  You can create a long-term goal, like saving up for college or for a first car.  Also establish a short-term goal, like a new gaming console or a hoverboard.

2.)  Bank Together
Whether your child is a first-grader or a lanky teenager, if this is their firs time owning an account, they'll need you to show them the ropes.
Always bring your child along with your when you stop by Health Care Family Credit Union to deposit his savings.  Show him how it works and let him see the account balance growing.  If your child asks you to withdraw money from his account, make sure he sees how this translates into a dip for his savings.
For teens, you'll need to walk them through that first deposit and withdrawal.  When they've probably got the hang of it, it's time to take a step back and let them be on their own.  They'll feel like a million dollars managing their account independently.
However, share with your teen that every swipe of their debit card also means a dent in their account balance. Also be sure to warn kids of all ages about security.  They should know to never share their account information with anyone, and to keep their debit card in a safe place.

3.)  Monitor Your Child's Activity
Don't aim to be a helicopter parent, but do keep an eye on your child's account.  If he's depositing a lot less than planned, ask him where his money is going. If your teen is maximizing his daily ATM allowance, speak to him about money management and impulse purchases.
Your teen's daily withdrawal limit may need occasional adjustment, so keep a careful watch on spending to see if any modifications are needed.
Remember:  Every financial lesson you teach your child today equips them with money management skills for a lifetime.