CEN­TRAL BANK JOINS ‘ TEACH CHIL­DREN TO SAVE’ CAM­PAIGN

Serve Daily - - LIBERTY SHALL BE MAINTAINED - By Diana Hur­ren

Dur­ing the month of April, Cen­tral Bank em­ploy­ees through­out the val­ley are part­ner­ing with lo­cal schools and youth or­ga­ni­za­tions to help ed­u­cate young peo­ple on the im­por­tance of sav­ing. For ex­am­ple, Pres­i­dent and CEO, Matt Packard, and Mort­gage Of­fi­cer, Tyler Heaps, vis­ited Sierra Bonita Ele­men­tary School in Span­ish Fork on April 14 to teach more than 120 se­cond- grade stu­dents about de­vel­op­ing a sav­ings habit early in life.

“Be­ing fi­nan­cially lit­er­ate is one of the most im­por­tant skills a young per­son can de­velop,” said Matt Packard. “Through this pro­gram we can mo­ti­vate stu­dents and in­still pos­i­tive habits at a young age, cre­at­ing a com­mu­nity of life­long savers.”

Cen­tral Bank 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.

April 11 marked the 18th an­nual Teach Chil­dren to Save Day. Cen­tral Bank ac­tively par­tic­i­pates in the Amer­i­can Bankers As­so­ci­a­tion’s Teach Chil­dren to Save cam­paign ev­ery April. If you would like to sched­ule a time for a banker vol­un­teer to help ed­u­cate your class or youth group, please con­tact your lo­cal Cen­tral Bank of­fice or call 801-375-1000.

Sub­mit­ted by Diana Hur­ren

Stu­dents lift­ing $ 50 in pen­nies at Sierra Bonita in Span­ish Fork.

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