August 2021 Newsletter
The school year isn’t just for classroom learning—it’s also a great time for kids to increase their financial know-how, including how to save and grow money and how to be financially responsible. Seeing as the school year is just around the corner (and for some kids, it’s already arrived), now’s an ideal time for them to learn and practice good financial habits. And if you’re a parent, you’re in a great position to help your kids with it—no matter whether they’re in elementary school, middle school, high school, or college.
At Bellco, kids as young as 5 can start understanding about finances by being part of the Coindexter Club, where they’ll have access to videos and games that teach the basics of earning, saving, spending, and investing. Once they’ve watched or played a total of five videos or games, kids can earn a $25 savings deposit, which will give them real-world experience with money smarts. And elementary students can complement their Coindexter learning with FUNancial $marts, an activity book designed as a collaborative tool between parents or teachers and kids. This workbook helps kids learn about budgeting and creating a business, teaches them about the benefits of earning interest, and helps prepare them for the financial challenges of adulthood.
By the time they’re 13, kids are eligible to open a free student checking account at Bellco. With this account, kids can get hands-on experience in maintaining a balance, avoiding overdraft fees, and learning the value of saving for the future. Plus, they’ll get all the same benefits of a regular checking account, including a Visa® debit card, access to online and mobile banking, no requirement for a minimum balance, and surcharge-free ATM transactions at thousands of locations. And all of this is under their parent’s watchful eye, so they have the guidance of learning from someone who’s already experienced with handling money.
And once kids are 18, they can be eligible for a credit card account, with a parent as a co-account owner. This way, they can build their credit (invaluable for when they’re ready for a car loan or a mortgage) and have access to emergency funds, all while you keep an eye on their spending activity.
As school gets underway this fall, tack some fun but priceless money learning onto your kid’s planner, and you’ll set them on course for a lifetime of financial literacy.
Summertime and fishing go hand in hand, and Colorado offers a wealth of opportunities to hook yourself some fun. We’ve rounded up a few of the best places to take kids, especially if they’re new to the sport.
- Schryver Park Kids Pond in Manitou Springs. This clean, mineral-water pond is a great place for family fishing. The Colorado Division of Wildlife stocks it annually with trout, and there are plenty of other activities nearby if the kids get bored with fishing.
- Bear Creek Lake Park in Lakewood. Wonderfully accessible, Bear Creek Lake is stocked at least once a month during the summer, with fish including rainbow trout, small-mouth bass, and yellow perch. If the young ones need a distraction, there’s plenty of wildlife viewing, numerous accessible hiking trails, and frequent educational programs, and the nearby Big Soda Lake has a swimming beach.
- St. Vrain State Park in Longmont. This park actually features numerous ponds, many of which are generously and regularly stocked with various fish, including trout, bass, walleye, and some types of panfish. Be sure to check a map of the ponds first, so you can scope out the pond you’d like to fish and so you can know which are legal to fish in.
- Palisade Riverbend Park Pond in Palisade. Although close to town, this area doesn't receive overly much fishing traffic, and it’s regularly stocked with rainbow trout in the spring and fall. There's also a chance you could catch large-mouth bass. Around the pond, you'll find picnic shelters, bathrooms, and some hiking.
- Boulder Kids Pond in Boulder. This is a fairly popular spot for new anglers—only kids 12 and under are allowed to fish the pond. It’s stocked with trout each month (around 3,000 total between Memorial Day and Labor Day), so kids have a great shot at a catch, and it’s not unheard of to catch one as long as 20 inches!
Although we don't often associate Colorado with lakes, there are actually a great many throughout the state. Whether you’re looking for one to fish or just want to explore a new body of water, you’re bound to have an adventure. Get out there with the family and enjoy!
As a not-for-profit, Colorado-based financial cooperative, Bellco is committed to providing tools and resources to help our members and the community feel financially empowered. One way we've done this is by collaborating with Denver 7 to provide communities across Colorado with helpful financial tips.
In a recent Denver 7 newscast, reporter Eric Lupher provided five financial steps you should consider before making that big purchase, such as a new car or a new home. You can view the segment below:
To learn more about the necessary steps for making larger purchases, visit our MoneySmarts page.
By The Insurance Loft
Say a pipe bursts in your home. First, go online, watch a YouTube video, and learn how to fix the plumbing to stop gallons of water from pouring into your home.
In the process, let's say you slip, fall, and break your arm. A WebMD article will certainly explain how to take an x-ray and cast your broken bone.
Sound absurd? It should. That is terrible advice! Because we all know there are things in this world that are better left to the experts.
Why Risk It?
Over the years, we hear one thing more than any other. “I don’t understand insurance.” Which makes sense; insurance is complicated. Yet, people continue to shop for coverage without guidance or an expert helping them.
For most, insurance is the last line of defense for some of life’s most challenging moments. So it seems logical to consult an expert who can offer reliable solutions, especially when that expert is 100% free of charge and works on salary, not commission.
At The Insurance Loft, we have committed our careers to understanding insurance and securing our client’s prized assets. We have access to dozens of insurance carriers to find the right coverage and the right price, without the DIY guesswork.
Connect with an expert at The Insurance Loft for a review of your coverage. We are the preferred home, auto, life, business, and pet insurance provider for Bellco members.
Prefer to talk with an advisor? Give us a call at 1-888-808-6475 or schedule an appointment!