Ocean City Today
https://oceancitytoday.villagesoup.com/p/1743718

Bank of Ocean City helping children learn to save money

By Kara Hallissey | Apr 26, 2018
Photo by: Kara Hallissey Kathy Drew, left, and Nancy Bradford from the Bank of Ocean City visited Ocean City Elementary School second grade classrooms on April 13 to teach students some essentials about saving and spending money.

(April 27, 2018) Nancy Bradford and Kathy Drew from the Bank of Ocean City visited Ocean City Elementary School second grade classrooms on April 13 to teach students some essentials about saving and spending money.

“It teaches children how to save money by putting them in a situation where they learn the importance of their money, but it’s too late because they’ve already spent their money on cheaper items,” second grade teacher Kristie Fogle said. “It is a great program and the kids love it.”

The American Bankers Association “Teach Children to Save” national program has been taking place in schools throughout the United States for more than 20 years and the Bank of Ocean City has participated in the program for at least a decade.

“It gives kids a perspective in today’s world [and] there is very minimal financial literacy in schools,” Drew said. “The more you educate them at a young age, the more sound they are as consumers when they become adults.”

The program covers earning money, bank accounts, how to pay for things, the difference between debit and credit cards, earning interest in a savings account and piggy bank history.

“Kids also don’t really get it at home, so it’s great anytime you can teach them about finance,” Bradford said. “We think it’s a fun program and the kids seem to enjoy it.”

The biggest lessons during the presentation teaches second graders the difference between need and want items, in addition to running out of money and the importance of saving.

Bradford and Drew gave their presentation to six classes at Ocean City Elementary School last Friday. They will also visit seven second grade classrooms at Showell Elementary and two at Worcester Prep.

“The American Bankers Association asks banks to teach kids about financial literacy and saving money,” Drew said.

Comments (0)
If you wish to comment, please login.