Thamesbank Times
Members eNewsletter
Ealing . Hounslow . Kingston . Richmond & Wandsworth . Spelthorne
Dear Member,
“Financial literacy is not just a nice-to-have. It's a must-have for anyone who wants to be financially successful." - Suze Orman
In this month's newsletter, explore how to give your finances a spring cleaning with our "financial detox" guide, great for refreshing your spending habits. Learn how teaching kids about money early sets them up for success. Also, understand how a Junior Savings Account can empower your little ones.
With best regards,
Thamesbank editorial team
Spring cleaning your finances: A guide to financial detox in April
Feeling financially overwhelmed? Spring cleaning isn't just for your home! Our blog explores a "financial detox" to refresh your spending habits. Learn how to assess your finances, track sneaky expenses, and embark on a money-saving journey. But can you truly detox your finances without sacrificing your lifestyle? Find out how to strike the balance and start your financial spring cleaning today.
How to help children build smart financial habits
Teaching children about money doesn’t have to be complicated. It’s important to start early so that you can lay a strong foundation for your child’s financial future. We’ve collated some ideas on how you can help children develop good money habits. You can read these on our website.
Become #EnergyAware
If you have friends, family or neighbours who might need:
- Extra support in a power cut
- Help to avoid energy scams
- Energy-saving home improvements to keep them safe and warm
Think about how you can offer support. Ofgem has put together some guides on energy awareness. You can read these on their website.
Start saving young: Open a Junior Savings Account with Thamesbank Credit Union
Children under the age of 16 residing in the London Boroughs of Ealing, Hounslow, Kingston Upon Thames, Richmond Upon Thames, Wandsworth, and the Borough of Spelthorne, Surrey can open a Junior Savings Account with Thamesbank Credit Union. An existing adult member needs to endorse the account opening. Junior savers can save up to £5,000, giving them plenty of room to grow their savings.
When your child turns 16, their account automatically transitions to a full adult membership, granting them voting rights within the credit union. However, please note that those under 18 are not yet eligible for loans.
Ready to get started?
Contact us via email at admin@thamesbank.org to set up a Junior Savings Account for your loved one today.
Words of wisdom
"Teaching children about money isn't just about pounds and pennies; it's about instilling the principles of discipline, patience, and foresight." – Dave Ramsey
Dave Ramsey, a well-known financial expert, is highlighting that teaching children about money goes beyond simply teaching them about the numbers and values of coins and notes. It's about equipping them with important life skills which will serve them well as they grow older.
Here's a breakdown:
- Discipline: Teaching children to manage their money requires discipline, which means making choices and sticking to them. This could involve setting aside a portion of their allowance for savings before spending the rest, or sticking to a budget when buying toys or treats.
- Patience: Learning about money teaches children the value of waiting for things they want. Instead of spending all their money as soon as they get it, they learn to save up for bigger purchases. This patience can be applied to other areas of life where waiting for the right moment pays off.
- Foresight: Planning for the future is essential to managing money. They develop foresight by teaching children to think ahead and consider the consequences of their financial decisions. This can help them avoid impulsive purchases and make smarter choices with their money in the long run.
Members noticeboard
Vote for Thamesbank at the Consumer Credit Awards
We've been nominated for Best Credit Union Loan Provider and Best Credit Union (South) at the Consumer Credit Awards by Smart Money People.
Your vote puts us in the running to be a finalist, and it truly means a lot to us. Head to our review page and leave a quick review – it only takes a minute! Plus, you'll be entered to win £1,000!
Voting closes on 18 June 2024, so don't miss your chance to be a part of this win. Mark your calendars for the finalists' announcement on 22 May 2024.
Let's show the power of our community. Vote now and help us take home the awards.
Lottery - enter now
As a member of Thamesbank Credit Union, you have the chance to enter the lottery, run by our back-office provider, Credit Union Solutions (CUS).
Each entry is £1, and each member can have up to 10 chances per month.
For all the details, to enter the lottery and to see past winners, visit the Credit Union Solutions (CUS) website.
Share this newsletter
Please feel free to share this newsletter with your colleagues, friends and anyone else who may be interested in the content within it.
With thanks from the Thamesbank editorial team.
Thamesbank Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number No. 416486).
Ethical and affordable finances | Helping you to save and borrow
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