Community bank volunteers teach JA classes during National Financial Literacy Month
Clinton, IA Apr, 2016—Citizens First Bank has partnered with Junior Achievement to help celebrate National Financial Literacy Month. Teaching children about financial literacy and savings education is great start to help children become aware of the impact financial awareness has on their lives. Volunteers from Citizens First Bank visiting area elementary classrooms are exploring families, selves, city planning, community region, money management, the difference between needs and wants, how to balance a checkbook, and more.
“Being financially literate is one of the most important skills a young person can develop,” said Paula Mayer, Marketing Director. “Through this program we can motivate students and instill positive habits at a young age, creating a lifelong financially aware community.”
Citizens First Bank offers the following tips for money-savvy parents raising financially literate children:
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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.
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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.
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Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
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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.
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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.
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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.
Citizens First Bank’s website provides online financial education resources for both parents and children at www.bankatcfb.com. From American Banker’s Association’s signature programs, Teach Children to Save and Get Smart About Credit, to FDIC’s Learning Bank Citizens First Bank hopes to help communities increase financial literacy.
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