Last month over 260 students heard from Salisbury Bank employees about the importance of saving as part of the ABA Education Foundation's Teach Children to Save initiative.
| Salisbury Bank employees teach a lesson on saving.|
"Teaching children lessons about budgeting, saving and balancing a checkbook prepare them for real world success. Salisbury Bank is committed to help students develop the skills necessary for financially responsible decision making," explains Rick Cantele, President and CEO of Salisbury Bank. "So while schools prepare students for real world success, Salisbury Bank focuses on helping young people develop skills for financial success."
The Teach Children to Save program uses lessons that bring together real life and classroom learning, incorporating hands-on scenarios and children's experiences to help them understand the basic principles of using money wisely. Lessons explore saving, budgeting and responsible financial decision making.
Teach Children to Save is a national campaign of volunteer bankers who since 1997 have helped millions of young people develop lifelong savings habits. It includes an annual awareness day, Teach Children to Save Day; a video contest for teens, Lights, Camera, Save!; and a Teach Children to Save website: www.teachchildrentosave.com.
Salisbury Bank offers the following tips for money-savvy parents raising money-smart kids:
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.
Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them - even the tough ones.
Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
Open a savings account at your local bank for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.
Give your kids positive feedback. As they get older, give them responsibility over how they spend their money.
Salisbury Bank offers a Financial Education lessons for students in grades K-12 and an adult Personal Financial Basics curriculum. If you are interested in learning more about the financial education lessons offered by Salisbury Bank, please contact Brenda Fife at 860-435-9801.
Salisbury Bank is a full-service community bank headquartered in Lakeville, Connecticut and presently operates full service branches in Canaan, Lakeville, Salisbury and Sharon, Connecticut as well as South Egremont and Sheffield, Massachusetts and Dover Plains and Millerton, New York. The Bank has been serving families and businesses for 160 years and offers a full range of consumer and business banking products and services as well as trust and investment services.