Teaching kids to save money

By Keith Boles - bio | email feedback

JONESBORO, AR (KAIT) --As parents we all want our kids to be good stewards of their own money whether from allowances or that first job income. Representatives from BancorpSouth visited the Microsociety Magnet School as part of the National Teach Children to Save program.

"At Microsociety this is a big concept that we teach them. In the afternoons with their jobs and we have a bank here as well." Says Kelly Logan a 3rd grade teacher. The kids at this school seem to be really in touch and eager to learn about the way the real world works.

This program has been around since 1977 and has reached millions. Caryl Steele from BancorpSouth says this years goal nationwide is high.

"The goal is to reach one million children. To help them learn the importance of saving money and how the decisions today can affect them tomorrow."

The Teach Children to Save Program is done a couple of ways. One combination classroom learned with Bunny Money.

Mrs. Kreis and Mrs. Knights class had to keep track of money not being spent on Grandma's present.

Steve Broadaway and Caryl Steele from BancorpSouth led the first session. Caryl narrated the spending spree.

And it was a good thing since the bunnies had spent lots of cash on unnecessary things.

After Bunny Money it was down the hall to Mrs. Taylor's and Mrs. Logan's class where it was money madness.

Unlike the Money Bunny class, this money looks a little bit more real and these kids are filling out deposit slips to put money in the bank.

Young entrepreneurs were everywhere figuring out how to make change and get the deposits just right.

Stacy Slaughter from BancorpSouth said good money habits start early. This nationwide program gets the kids off to a good start with banking procedures.

"We're gonna teach them about having a savings account, actually making a deposit, we're gonna make some pretend deposits and we're gonna add it up in the register."

Even though the money isn't real, the lessons learned are.

©2010 KAIT All rights reserved.