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Teach Children and Young Adults About Saving

In honor of Financial Literacy Month and Teach Children to Save Day on April 24, we are encouraging customers to help their children learn the value of saving. Below are just a few ideas on ways you can pass along financial savvy:

Teach Your Children to Save Day is on April 24
  1. Set the 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.
  2. Talk openly about money. Communicate your values and experiences with money.
  3. Encourage them to ask questions, and be prepared to answer them.
  4. Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
  5. Open a savings account for your children and take them with you to the bank to make deposits, so they can learn how to be hands-on in their money management.
  6. Let them make mistakes. As they get older, give them responsibility over how they manage their money. When they make a mistake, use it as a teachable moment to discuss the right way to handle money.

The following online resources and activities are great tools for getting your children to start thinking and talking about money and saving:

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