SFB Brings Financial Literacy to Kids Through Reading
Article By: Becky Seelen
With Americans spending more and saving less, young people often don't learn valuable personal finance skills that will benefit them throughout life.
Together, educators, bankers and parents can help children build good financial habits from an early age. That's why Security Financial is participating in the annual National Teach Children to Save Day campaign on April 12.
Volunteers from Security Financial Bank have found a way to teach kids about saving that provides instant gratification - and can be continued at home. Using a Wisconsin Bankers Foundation program called Reading Raises Interest, bank staff will read age-appropriate books with a message about money or saving to students at area schools in Altoona, Bloomer, Durand, Eau Claire, Ladysmith and River Falls.
This year's featured book is Sammy's Big Dream by Sam Renick. In the story, Sammy Rabbit has a big dream: to ride the world's first outer space roller coaster! Read along as he works to earn and save enough money to do it. The book can also be a good starting point for conversations about money between children and their parents.
"Although parents may initially feel uncomfortable talking with their children about money, it's a topic that can't be overlooked," said Cathy Couey, SFB's chief retail officer. "The discussion can begin with something as simple as wants vs. needs."
In addition to reading books to their children about money, parents can involve kids in spending decisions, encourage them to save part of an allowance and explain the family's finances in general terms.
To encourage students and parents to read more, Security Financial Bank will donate copies of Sammy's Big Dream to the class. Throughout the month of April, Security Financial Bank also will give free piggy banks to anyone opening up a Youth Savings Account. Individuals are encouraged to see a personal banker at a SFB location in Bloomer, Durand, Eau Claire, Ladysmith and River Falls for more information on Youth Savings Accounts.
National Teach Children to Save Day is an initiative sponsored by the Wisconsin Bankers Foundation and the American Bankers Association Education Foundation. Last year, bankers from more than 30 institutions reached out to their community to make Teach Children to Save Day presentations. Together, these bankers reported nearly 300 presentations to almost 9,000 students.
For more information about the program, contact SFB at email@example.com.