Kids Learn Financial A, B, C's on National Teach Children to Save Day

Apr 24, 2001, 01:00 ET from American Bankers Association

    WASHINGTON, April 24 /PRNewswire Interactive News Release/ -- Children
 across America will learn the financial facts of life today from volunteer
 bankers on the fifth annual National Teach Children to Save Day (NTCSD), a
 program sponsored by the American Bankers Association Education Foundation
 (ABAEF) to teach kids the value of saving and the basics of money management.
     "Kids who learn to save are better at managing money in the future," said
 John P. Pothoven, chairman of the ABA Education Foundation and chairman,
 president and CEO of Mahaska State Bank in Oskaloosa, Iowa.  "Our national
 savings rate is lower than during the Great Depression and recent studies show
 that kids aren't learning about the basics of money in school or at home.
 Savings Day helps to counteract this trend and gives youth a healthy financial
 start."
     On NTCSD bankers make presentations in schools to students in kindergarten
 through 12th grade.  Presentations include games and hands-on activities
 covering the concept of saving, how interest makes money grow, budgeting and
 needs versus wants.  The Teach Children to Save program uses lesson plans
 developed by ABAEF and incorporates activities, videos and budget exercises
 that children can relate to, such as "Buying a Scooter," and "Living in the
 Real World."
     ABAEF developed a World Wide Web component at www.aba.com, with ideas,
 tips, quizzes, educational materials and hyperlinks to help parents, kids and
 teachers learn about personal finances.  Here are more tips from the ABAEF on
 how to make Savings Day, "every day:"
 
     *  To make your child's savings visible and real, have them build up
        savings in a piggy bank.
 
     *  Help them open up their own bank savings account and make deposits
        regularly.  Many banks have children's accounts that offer no-fee and
        no-minimum balance.
 
     *  Make going to the bank a fun activity.  Some banks have kids clubs
        where members get newsletters or receive balloons when they make a
        deposit.  If your bank doesn't offer this, use another positive reward
        that your child might enjoy such as an ice cream cone or a trip to the
        park.
 
     *  Kids love to get mail, so keep an eye out for their monthly statement.
 
     *  Talk to your child about the family budget.  And include a discussion
        on wants and needs.  Reinforce this by budgeting for a family outing or
        purchase.
 
     *  Involve children in spending decisions by holding family meetings about
        savings.  This gives kids practical experience and lets them to be an
        active participant in the buying and saving process.
 
     *  While many children know that money doesn't grow on trees, they may
        think it comes out of a wall.  Show them how an ATM machine works and
        help them understand that to take money out of the bank you must first
        put it in.
 
     *  Give your kids positive feedback and encourage them in the savings
        process. As they get older and their allowance increases, give them
        responsibility over how they spend their money. Who knows -- even you
        might learn a trick or two!
 
     National Teach Children to Save Day is sponsored by the non-profit
 American Bankers Association Education Foundation, which works to improve
 personal money management skills throughout the United States.
     The ABA Education Foundation provides leadership and resources to bankers
 to enhance the public's knowledge of personal money management skills and
 banking services. The Foundation is a 501(c)(3) non-profit subsidiary of the
 American Bankers Association. The ABAEF promotes financial education, offers a
 wide range of products and coordinates two major programs: National Teach
 Children to Save Day, a day each April when thousands of bankers make
 presentations to students on the importance of saving for their future, and In
 Charge, a national credit education program for young adults.  ABAEF and its
 interactive budgeting and financial planning tools can be found on the
 Internet at http://www.aba.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X54508887
 
 

SOURCE American Bankers Association
    WASHINGTON, April 24 /PRNewswire Interactive News Release/ -- Children
 across America will learn the financial facts of life today from volunteer
 bankers on the fifth annual National Teach Children to Save Day (NTCSD), a
 program sponsored by the American Bankers Association Education Foundation
 (ABAEF) to teach kids the value of saving and the basics of money management.
     "Kids who learn to save are better at managing money in the future," said
 John P. Pothoven, chairman of the ABA Education Foundation and chairman,
 president and CEO of Mahaska State Bank in Oskaloosa, Iowa.  "Our national
 savings rate is lower than during the Great Depression and recent studies show
 that kids aren't learning about the basics of money in school or at home.
 Savings Day helps to counteract this trend and gives youth a healthy financial
 start."
     On NTCSD bankers make presentations in schools to students in kindergarten
 through 12th grade.  Presentations include games and hands-on activities
 covering the concept of saving, how interest makes money grow, budgeting and
 needs versus wants.  The Teach Children to Save program uses lesson plans
 developed by ABAEF and incorporates activities, videos and budget exercises
 that children can relate to, such as "Buying a Scooter," and "Living in the
 Real World."
     ABAEF developed a World Wide Web component at www.aba.com, with ideas,
 tips, quizzes, educational materials and hyperlinks to help parents, kids and
 teachers learn about personal finances.  Here are more tips from the ABAEF on
 how to make Savings Day, "every day:"
 
     *  To make your child's savings visible and real, have them build up
        savings in a piggy bank.
 
     *  Help them open up their own bank savings account and make deposits
        regularly.  Many banks have children's accounts that offer no-fee and
        no-minimum balance.
 
     *  Make going to the bank a fun activity.  Some banks have kids clubs
        where members get newsletters or receive balloons when they make a
        deposit.  If your bank doesn't offer this, use another positive reward
        that your child might enjoy such as an ice cream cone or a trip to the
        park.
 
     *  Kids love to get mail, so keep an eye out for their monthly statement.
 
     *  Talk to your child about the family budget.  And include a discussion
        on wants and needs.  Reinforce this by budgeting for a family outing or
        purchase.
 
     *  Involve children in spending decisions by holding family meetings about
        savings.  This gives kids practical experience and lets them to be an
        active participant in the buying and saving process.
 
     *  While many children know that money doesn't grow on trees, they may
        think it comes out of a wall.  Show them how an ATM machine works and
        help them understand that to take money out of the bank you must first
        put it in.
 
     *  Give your kids positive feedback and encourage them in the savings
        process. As they get older and their allowance increases, give them
        responsibility over how they spend their money. Who knows -- even you
        might learn a trick or two!
 
     National Teach Children to Save Day is sponsored by the non-profit
 American Bankers Association Education Foundation, which works to improve
 personal money management skills throughout the United States.
     The ABA Education Foundation provides leadership and resources to bankers
 to enhance the public's knowledge of personal money management skills and
 banking services. The Foundation is a 501(c)(3) non-profit subsidiary of the
 American Bankers Association. The ABAEF promotes financial education, offers a
 wide range of products and coordinates two major programs: National Teach
 Children to Save Day, a day each April when thousands of bankers make
 presentations to students on the importance of saving for their future, and In
 Charge, a national credit education program for young adults.  ABAEF and its
 interactive budgeting and financial planning tools can be found on the
 Internet at http://www.aba.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X54508887
 
 SOURCE  American Bankers Association