Celebrate Teach Your Child to Save Day
BauerFinancial Inc., the nation's premier bank rating and research firm, would like to remind parents, teachers, guardians, mentors and anyone else who has influence on children that April 21 is National Teach Your Child to Save Day.
This event, sponsored by the American Bankers Association, has mobilized thousands of bankers the past several of years. Each year, bankers go to classrooms across the country to help educate the nation's youth. But they can't be expected to do it all. Parents should do their part as well.
Does your child have a savings accounts yet? If not, what are you waiting for? Take your child to your bank or credit union and show him or her around. Open a savings account and explain how the interest earned will make their money grow. Don't forget to review the account statements with the child when they arrive.
This simple act today will help product more responsible consumers tomorrow.
A tip: The American Bankers Association suggests teaching your child to put some money away for the long term. They suggest: "Keep long-term savings in an investment fund; short-term savings in a bank; and spending money in a jar, piggy bank or wallet. You may also encourage children to save part of their spending money for charity."