PHOENIX — Friday is National Teach Children to Save Day and bankers and other financial professionals went to school to teach kids how to hold on to their allowances.
While children may pick up an idea or two at school, Corey Carlisle with the American Bankers Association said saving begins at home with lessons taught by parents.
Carlisle offered the following tips for parents who want to teach kids to be financially sound:
Saving a little bit, even 50 cents a day, can add up to hundreds of dollars per year.
Take children grocery shopping and let them help purchase items based on a budget.
Teach kids the difference between needs and wants and why saving can benefit them in the long run.
KTAR’s Jeremy Foster contributed to this report.