I recently started a piggy bank with my three year old son in an effort to teach him early about the importance of saving and budgeting money. He is very excited about having his own savings and now any time he sees any coins laying around he quickly swoops them up and deposits them away in his bank. I have been so proud of my efforts with him on this subject and thought I had done a very thorough job of explaining to him how it all worked, until he asked me the other day ”mommy what do we do with the money in the bank?” That’s when I realized that maybe I could use a little help. And clearly I am not alone, which is why in 1997 The American Bankers Association started the program Teach Children to Save (TCTS).
This year national Teach Children to Save Day is Friday April 24th. It is a great program that is dedicated to educating young people about the importance of saving money. Since it began more than 6 million students have participated in the program taught mostly by banker volunteers. If the Wells Fargo volunteers don’t come to your child’s school or if you would like to learn more for yourself, the Hands on Banking® program is a free public service provided by Wells Fargo. The program is a great tool for teaching children about the importance of saving money. My son and I have been using them and I think he is really starting to understand how savings works. Now to teach his father…….