Magnify Credit Union



The Basics

TrueWealth is happiness. It is having peace of mind. It is living a healthy, fear free and guilt free life. Truth be told, it is more about attitude than money. It is more about choices and fundamental understanding of certain core values & concepts we discuss in our character driven financial education and decision making school program: TrueWealth-KIDS™. The KIDS™ part represents how we might think of our money…in terms of four parts. Every dollar we possess should be thought of as having a part that we KEEP, a part that we INVEST, a part that we DONATE and finally, a part that we can SPEND.

The TrueWealth-KIDS™ Spend Account

Empower your children by providing them the money you normally would spend on them each month! Your children will learn how to manage this money by following the principles outlined below:

  • KEEP – or save a portion for that "rainy day" fund and for that delayed gratification purchase.
  • INVEST – a portion, beginning with interest bearing accounts to learn the magic of compound interest, leading to better understanding of ways for making money grow in a risk appropriate portfolio.
  • DONATE – a portion back to your community, faith, charity and/or helping those in need or less fortunate.
  • SPEND – the remainder wisely making choices between your needs and wants during the month.

The TrueWealth-KIDS™ account is a single account comprised of (4) sub-accounts listed above.

How to Set up a TrueWealth- KIDS™ Account

To learn how to set up the TrueWealth-KIDS™ account, review the TrueWealth-KIDS™ Guide. You'll learn what expenses are part of TrueWealth-KIDS™ and how to allocate funds to each of the sub-accounts. No matter how much you make or how much you spend on your child, the TrueWealth-KIDS™ Account works for any family and any child!