BRATTLEBORO, Vt. -- Brattleboro Savings and Loan is partnering with the American Bankers Association to celebrate Teach Children To Save 2015. Established by the ABA in 1997, Teach Children to Save has reached 7.2 million young people through the commitment of 210,000 banker volunteers.As part of this program, BS&L 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. Share this roadmap to financial responsibility with your kids.
· 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. See this list of eight ways to talk openly with your kids about saving money.
· 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 initiatives and resources that help bankers make their communities better. The association’s signature initiatives, Teach Children to Save and Get Smart About Credit, bring bankers and students together to increase financial education.
About Brattleboro Savings & Loan
BSL was founded in 1912, and today serves the greater Brattleboro and area as its only community bank. Community-owned, BSL specializes in personal banking, mortgage lending, commercial lending, and commercial banking; brattbank.com
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