It’s never too early or too late to learn great financial habits. And April is Financial Literacy Month, so it’s the perfect time for you to engage with and educate your account holders and their families on personal finance.
April 20 is Teach Children to Save Day, dedicated to educating kids about money.
This is an opportunity to share tools with your community that will make learning about money fun so the information actually sticks. Sponsored by the American Bankers Association, all financial institutions can participate.
Piggybot: The piggy bank on your phone.
With Piggybot, kids can have a piggy bank at their fingertips and track their allowance. They can set goals for specific items they want to buy with the money, or just set a goal for a savings amount they would like to reach.
It gives kids a fun, digital way to track their money and learn the value of a dollar in an engaging way.
Take a trip to MoneyIsland.
Another way to improve a child’s financial literacy is with MoneyIsland, which engages them by blending gaming with an educational experience. The mission? To save Stone Broke (while learning financial tips through videos and games along the way). Visit MoneyIsland now!
The game is divided into six main quests, and there are additional tools and tips in the game for parents and teachers to increase engagement and understanding as children move through the adventure. It’s more challenging than it looks — try challenging your branch team to a quest to amp up enthusiasm for financial literacy.
Spread the word this April about financial literacy.
As a local financial institution, you have the opportunity to help educate consumers young and old about money and strengthen relationships in your community. In fact, 70% of community bank and credit union account holders see their bank as a partner in managing their finances, compared to just 57% of megabank account holders.* By telling consumers about valuable tools and resources that will help them, you’re creating a foundation of trust and a positive relationship that will last for years to come.
*2015 Consumer Banking Insights Study