April 26, 2022
Spring is not only time for warmer weather and blooming flowers, but it also marks the start of the American Bankers Association’s Teach Children to Save campaign. Teach Children to Save was established in 1997 and has continued to bring financial literacy to youth across the country annually.
Ohio Valley Bank is once again participating in Teach Children to Save.
While Teach Children to Save Day is set for Thursday, April 28, OVB plans to celebrate for the remainder of the spring season. The Teach Children to Save campaign focuses on helping youth learn about the importance of saving. OVB features the Teach Children to Save theme within the bank’s Adventures in Saving program, which focuses on determining the difference between wants and needs as well as the importance of creating a savings plan.
Along with the American Bankers Association’s other financial education initiatives, Teach Children to Save has reached 10.5 million students through the commitment of more than 260,000 banker volunteers.
“Familiarizing students with financial education fundamentals at an early age puts them on the path to becoming financially savvy adults,” Hope Roush, OVB communications specialist said. “OVB is proud to once again promote the Teach Children to Save campaign as it is another outlet for the bank to share our passion for financial education as well as adhere to our Community First mission by helping the areas we serve.”
Parents can also participate in Teach Children to Save by reiterating the importance of making smart financial choices. The OVB Virtual Classroom offers interactive lessons that parents can do with their children. There are currently two series’ available that focus on teaching children important saving skills. More content is being planned for future editions to the classroom as well.
The following tips are also ways to help children forge a path to becoming financially responsible adults:
- Set an example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal finance habits. Share this Roadmap to financial responsibility with your kids.
- Talk openly about money as a family. Communicate your values and experiences with money. Encourage your children to ask questions and be prepared to answer them.
- Explain the difference between needs and wants, the value of saving and budgeting as well as the consequences of not doing so.
- Open a savings account for your children and take them with you to the bank. For information on OVB’s statement savings account, click here. Allowing your children to watch you make deposits will help them learn how to be hands-on with their own money management.
- Let friends and family know about your child’s savings goal. They will be more likely to give cash for special occasions, which means more opportunities to visit the bank.
To schedule a Teach Children to Save presentation, contact Roush at firstname.lastname@example.org.