Kids Who Save Money Are More Likely To Go To College, Have a Better Outlook on Life and Are More Financially Literate
Corey Carlisle, Executive Director, American Bankers Association Foundation
(Washington, DC, Thursday, April 28, 2016) – Kids who save money are more likely to go to college, have a better outlook on life and are more financially literate. In honor of National Financial Capability Month, the American Bankers Association Foundation is organizing banker volunteers to visit classrooms across the country and teach children how to become life-long savers. Nearly 13,000 bankers are participating in all 50 states, reaching an estimated 450,000 students as part of this year’s Teach Children to Save program on Friday, April 29.
Now in its 20th year, Teach Children to Save and the ABA Foundation’s other financial education initiatives have reached more than 8.2 million children with the help of more than 245,000 banker volunteers across the country. These lessons encourage a greater appreciation of saving and spending wisely. They give kids the opportunity to explore the difference between needs and wants, and learn how to identify expenses, trade-offs, and ways to cut spending.
A new component to Teach Children to Save this year is the ABA Foundation’s Book Award Program. The ABA Foundation and First Book have joined forces to put the literacy back in financial literacy. The Book Award Program provides banks an avenue to donate financial literacy-themed books in conjunction with their savings lessons to schools across the country. The program is open to banks of all sizes who are registered for Teach Children to Save.