SARATOGA SPRINGS — The Adirondack Trust Company is participating in the American Bankers Association’s Teach Children to Save Day by offering financial education coloring books during the week of Monday, April 24. Community children are asked to visit any Adirondack Trust branch while their parents complete banking transactions.
Established by the American Bankers Association (ABA) Foundation in 1997, Teach Children to Save and other education initiatives have reached 8.2 million young people through the commitment of more than 245,000 banker volunteers.
The Adirondack Trust Co. offers the following tips for money-savvy parents: Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver; talk openly about money with kids, communicating values and experiences; encourage kids to ask questions and be prepared to answer them; explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so; open savings accounts for children so they can learn how to be hands-on in their money management; let friends and family know about a child’s savings goal; and engage a coalition of support groups to provide youth with the education they need to succeed.
The ABA Foundation’s signature initiatives, Teach Children to Save and Get Smart About Credit, bring bankers and students together to enhance financial education.
