EDUCATION MATTERS: countrywide application teaches students the significance of saving

ROCKFORD, Ill. (WTVO) – It’s never too early to train youngsters about the importance of saving. Teaching college students at a younger age can assist them to have a cozy financial future. That’s the purpose of a countrywide program targetting kids in kindergarten through 8th grade.
The second-grader at Spring Creek Elementary School Cooper French says he’s saving up for a brand new pair of footwear he is desired for a long time.

“If you find cash at the floor, keep it up, placed it in a piggy bank or like if you have a jar, you could put it in and keep it and you may purchase things which you want next day, or you may purchase them in a while, but just keep up,” French said.

Local bankers need more children like Cooper to apprehend the significance of saving. That’s why Northwest Bank representatives visited several Rockford elementary schools, talking to children about getting into the addiction of saving.

“We assume it’s critical to begin that foundation for them at an early age, so they understand that it’s crucial to keep cash and allow that cash grow over time so while they’re older, they have a big basis to start with their lives,” Kyra Jones, a well-known banker at Northwest Bank at Machesney Park, stated.
Students in 2d and fifth grades learned the way to have a successful financial future. They had been all given a fifty-cent coin to start.

“We’re gonna begin them in this path with this 50 cent coin and say ‘placed this to your piggy financial institution and keep it,’” Jones stated. “Over time, that money is going to grow and grow and grow, and that 50 cents will turn into five dollars or fifty dollars.”

Second-grader Lily Morris will add fifty cents to her own piggy financial institution for a completely vital reason.
“So you can buy stuff that you want,” Morris stated.
Almira Holmes does chores to earn cash. She says she frequently adds to her financial savings.
“Put it in my piggy financial institution and shop it for once I need a few,” Holmes stated.
Holmes says she’s pleased with herself when she’s capable purchase with her own money.
“It feels appropriate,” Holmes stated.
The application “Teach Children to Save” is sponsored by the American Bankers Association Foundation.