How young is too young to start learning the fundamentals of finance? Kindergarten? Evan Diamond, Cambridge Savings Bank’s Financial Education Program Manager doesn’t think so.
“I think the earlier you develop the habit of saving, the better,” said Diamond. “At that age, they know more than we might expect. When we asked the kids what are some important things to save money for, a little Kindergartener girl said, 'a car, college and a home' – so right off the bat she came up with the three major things adults need to save money for.”
Cambrige Savings Bank is on a financial literacy tour heading to Kindergarten classrooms in the Massachusetts northeast. The “Teach Children to Save” program is a nationwide effort by the American Bankers Association to encourage banks to reach out to the schools in their community and educate the youth population about proper finance techniques.
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On April 18, representatives from Cambridge Savings Bank stopped by the and taught several kindergarten classrooms the fundamentals of finance. The students were read a children’s book about financial literacy called “Rock, Brock and the Savings Shock,” by the Federal Deposit Insurance Corporation Chair, Sheila Bair. The book is an entertaining way to get children to wrap their heads around saving money, according to Diamond.
Each student received a piggy bank with $1.00 of coins to get them excited to start thinking about saving money and the Conant school was donated a copy of the book.
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“Cambridge Savings Bank believes that it is important to provide financial education to children early on in their development,” said Susan Lapierre, senior vice president of community relations and Community Reinvestment Act officer for Cambridge Savings Bank. “The aim of CSBsmart is to contribute to the economic development of the communities Cambridge Savings Bank serves. The Banks commitment to teach the basics of finances, regardless of age or background, is an integral part of our mission as a community bank.”
about one authors perspective on teaching kids financial literacy.
