Farmers Trust & Savings Bank partnered with North Iowa, West Hancock, Lake Mills and United South Central school districts to celebrate Teach Children to Save Day, with savings education.
More than 160 local youth explored the benefits of saving money and the difference between needs and wants.
Staff members at Farmers Trust & Savings Bank visited their local schools to talk about the importance of saving money, how the money cycle works and how determining wants versus needs is an important aspect of saving money. In addition, each participating student received a bank, a gold coin and financial literacy material.
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Farmers Trust & Savings Bank offers the following tips for money-savvy 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; talk openly about money with your kids; explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so; and open a savings account for your children and take them with you to make deposits.
Farmers Trust & Savings Bank is located in Buffalo Center with four additional offices in Lakota, Britt, Lake Mills and Bricelyn. Teach a Child to Save Day is an annual tradition of Farmers Trust & Savings Bank, and completed with third grade students each spring.