This content was originally featured in the Batavia Daily News
As a community banking professional and father of two children, I often think about the importance of teaching them financial literacy. During Community Banking Month, we celebrate National Teach Children to Save Day on Thursday, April 22—a perfect opportunity for both parents and caregivers to begin having conversations with their children about how to manage money. It’s never too early to get started!
Every family’s situation is different, but there are easy, actionable steps that all parents can take to teach their children the value of a dollar. For example, around holidays and birthdays, our family opts for smaller gifts and encourages our relatives to give money instead of “stuff.” I always had one rule for my children when it came to receiving money; it goes right into their savings accounts. This is just one quick way to get the conversation started.