Here locally, bankers from IBERIABANK taught classes at Orangewood Elementary in Fort Myers, Poinciana Elementary School in Naples and Tommie Barfield Elementary on Marco Island. “Through this partnership, we aim to motivate students and instill positive habits at a young age, creating a community of lifelong savers,”says David Gordley, market president for IBERIABANK.
ABA offers the following tips for parents raising money-smart kids:
- Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal finance habits.
- Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones.
- Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
- Open a savings account for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.
- Let friends and family know about your child’s savings goal. They’ll be more likely to give cash for special occasions, which means more trips to the bank.
- Engage your community. Many schools, banks and community organizations share your commitment to creating a money-savvy generation. Engage a coalition of support to provide youth with the education they need to succeed.
Established by the American Bankers Association in 1997, “Teach Children to Save” has reached 7.2 million young people through the commitment of 210,000 banker volunteers.
IBERIABANK Corporation is a financial holding company with 314 combined offices, including 216 bank branch offices and three loan production offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 23 title insurance offices in Arkansas and Louisiana, mortgage representatives in 63 locations in 10 states. The company has eight locations with representatives of IBERIA Wealth Advisors in five states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.