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SMB to visit schools for Teach Children to Save Day - KOAM TV 7

SMB to visit schools for Teach Children to Save Day

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NEWS RELEASE FROM SOUTHWEST MISSOURI BANK (SMB)

SMB Visits Schools for Teach Children to Save Day!

April 9, 2014 (Joplin, MO) – Friday, April 11, 2014 friendly bankers from Southwest Missouri Bank, SMB, will be visiting Carl Junction and Joplin schools to celebrate Teach Children To Save Day. The bankers and students will explore the difference between needs and wants, learn how to identify expenses, trade-offs and ways to cut spending.

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 literate is one of the most important skills a young person can develop,” said Tracy Asbell, SMB Public Relations Director. “Through this program we can motivate students and instill positive habits at a young age, creating a community of lifelong savers.”

SMB 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.

• Engage your community. Many schools, banks and community organizations share your commitment to creating a money-savvy generation. Engage a coalition of support to provide youth with the education they need to succeed.

For more information and specific school visit schedules, please contact Tracy Asbell, SMB Public Relations Director, 417.623.5959.

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