5/23/2017
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National Teach Kids To Save Day

April 11 is National Teach Children to Save Day. Started in 1997 by the ABA Education Foundation, over 130,000 bankers have joined in to teach and help develop savings skills of millions of young people..

National Teach Children to Save Day is a day of awareness that is organized to help young people learn the value of saving money early in life and sets them on a road to financial responsibility.

Programs teach children that saving money is not as hard as they may think. They are taught banking terms, about compound interest, credit and debt, and the do's and don'ts about credit cards.

Children are taught to save for college and how to plan for large purchases. This is done by teaching children to create a budget. They are taught to recognize and prioritize their spending habits and learn the difference between what they need and what they want.

The key is to save a little money over a long period of time. Start off with a piggy bank when your child is a baby. This will give the child something that he or she can touch and put money in. A piggy bank is a great learning tool.

The next thing is to start a savings account. A savings account will give your children pride in knowing that they have accomplished something that will help make their own future brighter.

Teach children to make regular deposits in their savings accounts. It will earn interest and keep growing due to the monthly dividends paid by the bank for the use of their money.

As your children grow older, the things you teach them about saving and managing their money will help them immensely throughout their lives.

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