April 08, 2014
Bank of New Hampshire celebrates the 18th Annual Teach Children to Save Day on April 11th. More than 100 local youths will explore the value of money and learn the difference between needs and wants with the help of hand puppets Dime the Alligator and Nicole the Owl.
Bank of New Hampshire recognizes the importance of teaching children to save at an early age. In addition to participating in Teach Children to Save Day, Bank of New Hampshire has recently launched an I Love Saving club for kids with an account for children age 13 and younger. This new account matches the first five dollars deposited, provides a piggy bank at account opening, allows the kids to pick a toy from a treasure box each time they make a deposit, rewards kids with a quarterly gift for bringing in their good report card and includes a quarterly newsletter mailed to all members with fun activities and tips for saving.
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 bank volunteers. “Being financially literate is one of the most important skills a young person can develop,” said Karen Wilson, VP – CRA Officer for Bank of New Hampshire. “Through this program we can motivate students and instill positive habits at a young age, creating a community of lifelong savers.”
Bank of New Hampshire offers the following tips for money-savvy parents raising money-smart kids:
The American Bankers Association provides financial education programs and resources that help bankers make their communities better. The association’s signature programs, Teach Children to Save and Get Smart About Credit, bring bankers and students together to increase financial literacy.
Bank of New Hampshire, founded in 1831, provides deposit, lending and wealth management products and services to families and businesses throughout New Hampshire. With 21 banking offices throughout New Hampshire and assets exceeding $1 billion, Bank of New Hampshire is the oldest and largest independent bank in the state. Bank of New Hampshire is a mutual organization, focused on the success of the bank’s customers, communities and employees, rather than stockholders. For more information, call 1-800-832-0912 or visit www.BankNH.com.
Bank of New Hampshire recognizes the importance of teaching children to save at an early age. In addition to participating in Teach Children to Save Day, Bank of New Hampshire has recently launched an I Love Saving club for kids with an account for children age 13 and younger. This new account matches the first five dollars deposited, provides a piggy bank at account opening, allows the kids to pick a toy from a treasure box each time they make a deposit, rewards kids with a quarterly gift for bringing in their good report card and includes a quarterly newsletter mailed to all members with fun activities and tips for saving.
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 bank volunteers. “Being financially literate is one of the most important skills a young person can develop,” said Karen Wilson, VP – CRA Officer for Bank of New Hampshire. “Through this program we can motivate students and instill positive habits at a young age, creating a community of lifelong savers.”
Bank of New Hampshire 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.
The American Bankers Association provides financial education programs and resources that help bankers make their communities better. The association’s signature programs, Teach Children to Save and Get Smart About Credit, bring bankers and students together to increase financial literacy.
Bank of New Hampshire, founded in 1831, provides deposit, lending and wealth management products and services to families and businesses throughout New Hampshire. With 21 banking offices throughout New Hampshire and assets exceeding $1 billion, Bank of New Hampshire is the oldest and largest independent bank in the state. Bank of New Hampshire is a mutual organization, focused on the success of the bank’s customers, communities and employees, rather than stockholders. For more information, call 1-800-832-0912 or visit www.BankNH.com.
