Eaton Federal Savings Bank has partnered with the Charlotte Community Library-Toddler Story Hour, Stephy’s Angels Daycare, Charlotte St. Mary’s School and many other local schools and groups in the Eaton Rapids, Nashville, Olivet, and Grand Ledge areas to celebrate the 2014 Teach Children To Save Event. Eaton Federal will educate more than 600 local children this year with out-of-the-box lessons, making learning about money fun for students and allow bankers to bring reality and learning together to help students understand the basic principles of using money wisely.
Established by the American Bankers Association in 1997, Teach Children to Save has reached more than six million young people through the commitment of 134,200 banker volunteers.
“Being financially knowledgeable is one of the most essential skills a young person can develop,” said Sadie Ames, EF Loan Specialist. “Through this program we can motivate students and instill positive habits at a young age, creating a community of lifelong savers.”
To help the young savers, Eaton Federal Savings Bank offers a special type of account designed just for kids, called the Kids’ Club Account. This account is for children ages 0 to 17. It offers kid friendly features such as birthday cards, prizes for deposits, special promo events and educational materials. It makes saving fun for kids and teaches and instills good saving habits.
Eaton Federal Savings 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 for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.
Let friends and family know about your child’s savings goal. They’ll be more likely to give cash for special occasions, which means more trips to the bank.
Eaton Federal Savings Bank is proud to be an active part with the younger generation in the communities we serve. For more information on the program, visit www.abaef.com and click on Teach Children to Save or stop in at any of Eaton Federal’s local branches (Charlotte, Eaton Rapids, Nashville, Olivet, and Grand Ledge.) Eaton Federal also has a great tool on their website called EFSB Kid’s Zone
It is a fun place where kids and teens learn about money, news and a whole lot more. http://www.eatonfed.com/kids-zone.
Article submitted by Eaton Federal Savings Bank.
