Learning to save

By MIKE JAMES
The Independent

SUMMIT April 22, 2009 12:16 am

— Heads bent low over their work table, the three girls crunched financial numbers for a lemonade stand.
Their fingers danced on calculators and pencils flew over income and expense worksheets.
The lemonade stand was imaginary but the girls were wrestling with a real-world issue, said their teacher, Dinah Houston. Namely, the fourth-graders had to make some choices about how much money they could invest for lemons and other supplies and still make a decent profit.
“That makes it real for them,” Houston said.
The girls, Jessica George, Heather Patton and Kaylee Johnson, were among Boyd County elementary and middle school students who took part in a nation-wide effort by banks and schools to promote financial literacy.
National Teach Children to Save Day brought local bankers out to schools in the Boyd County district to spread a message of thrift.
Town Square Bank provided curriculum materials for the lessons on the importance of saving, said Sheri Bryan, a former school board member who is an internal auditor and compliance officer at the bank.
Financial literacy is more important than ever, said Rhonda Osburn, a resource teacher for the district.
“You can tell from kids’ questions that they’re hearing about the economy on the news,” she said. “To me, it’s an opportune time for them to see the importance of saving.”
“It’s never too early to save,” said Johnson, who hopes to put away enough cash to buy a horse.
“If you wait too late, you won’t have enough money to pay your expenses,” said George, adding she wants to save enough to buy some toys without having to ask her parents for the money.
Patton said she’d put her savings in a piggy bank until she has enough for the games she loves.
The program presented students with a four-pronged challenge with the acronym “SAVE:”
‰Set aside $2 of every $10 they earn or receive as gifts.
‰Ask parents to help with opening a savings account — and then keep feeding it.
‰Vow to put the things they need before the ones they want.
‰Encourage friends to save too.
The district hopes to expand the program next year and get parents involved too, Osburn said. That way, parents can lay the foundations for financial literacy in the home.

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