NATIONAL TEACH CHILDREN TO SAVE DAY
Each year in April, National Teach Children to Save Day encourages children to develop good saving habits.
Bankers across the country volunteer every year to teach children to save. Developing these habits at a young age creates a foundation for a lifetime of saving. Involving our children with a savings plan, and money management skills prepare them for a solid future. Parents should teach children about financial matters so that when they head out into the world they avoid pitfalls that can be financially devastating. With an early start on saving and an understanding of budgeting their money, children will have solid habits as they head into adulthood.
The day offers tools and resources through events across the country.
HOW TO OBSERVE #TeachChildrenToSaveDay
- Find an event near you.
- You can also start projects at home that encourage your children to save.
- Help your children develop the skills they will need for a lifetime. Try these tips to get started.
- Give each child a bank. It helps if the bank is clear so they can see their savings grow.
- Open a savings account. They can monitor their account and watch it grow there, too.
- Show them what things cost. When they want a new toy, direct them to their savings. Ask them to consider whether to toy is worth the amount they want to spend. If they still want to purchase the item, have the child pay. The act of paying with their own money will demonstrate to them the cost of the toy.
- Demonstrate need versus want. Explain how our food, clothing, and shelter are necessities. However, we can live without going out to eat or buying a new television or the latest phone. Place the needs before the wants even in your daily shopping.
- Teach your children the value of money and how to save it. Use #TeachChildrenToSaveDay to post on social media.
- Educators, visit the National Day Calendar® Classroom for a fun project to celebrate the day.
NATIONAL TEACH CHILDREN TO SAVE DAY HISTORY
Sponsored by the American Bankers Association, National Teach Children To Save Day has been helping young people since 1997 when the program started.
Q. What age is best for a child to start learning to save?
A. As soon as a child begins to understand numbers, they can begin to understand the basic concepts of saving. From there, begin building upon their understanding.
Q. How can I show my child that we have to work for the things we buy?
A. Let your child see what you do for a living. Show them that the work you do pays for the food, clothing, home, vacations, etc…