THE IMPORTANCE OF SAVING, STRAIGHT
FROM THE BANKER'S MOUTH
~ Twelfth Annual
National Teach Children to Save Day is April 29 ~
April 2008
Washington, D.C. - Today's
teens are active consumers, spending $180 billion annually.
But are they saving in addition to spending? To enlighten
our youth on the importance of saving, thousands of
bankers will teach savings lessons across the country
in honor of the 12th annual National Teach Children
to Save Day, a program sponsored by the American Bankers
Association Education Foundation.
Recent studies report that
almost 90 percent of young people have never taken a
class in personal finance, although they spend billions
each year. In fact, America's teens spend an average
of $104 per week, highlighting the urgent need for financial
education. The good news? On Tuesday, April 29, bankers
will reach youth by incorporating games and activities
into lessons on the concept of saving, how interest
makes money grow, how to create a budget, and how to
differentiate between needs and wants.
Participating bankers will
schedule presentations at their local elementary, junior
or senior high school, during after-school programs
or at community centers. Bankers will use their expertise
to inspire students to become life-long savers. These
out-of-the-ordinary classroom lessons leave a lasting
impression on students and encourage a greater understanding
of financial matters.
TCTS lessons bring reality
and learning together, incorporating hands-on scenarios
and real life experiences. In Pattys Pet Hamster, a
popular TCTS lesson for grades 2-3, students explore
the difference between needs and wants, learn how to
identify expenses, trade-offs and ways to cut spending.
Older students learn about needs and wants too, in the
Survivor Island lesson designed for grades 7-12. In
this lesson, students use a real life Survivor scenario
to understand how money can influence priorities and
how to identify needs in order of importance.
Since the Foundation launched
the Teach Children to Save Day program in 1997, more
than 45,000 banker volunteers have reached nearly 2.3
million students with saving lessons. To learn more
about Teach Children to Save, visit www.abaef.com
or call 1-800-BANKERS.
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