Katahdin Trust bankers help teach children healthy savings habits

  HOULTON, Maine — Throughout April, bankers from Katahdin Trust will start children throughout northern and central Maine on the path to a positive financial future by participating in the annual Teach Children to Save Day, a nationwide event to teach children their financial ABC’s.
“Education and hands-on money experience are critical to ensuring a new wave of smart money managers,” said Katahdin Trust Senior Vice President of Marketing & Communications Vicki Smith, who oversees the bank’s efforts in the program.   “We want parents to know that saving is important and everyone can do it, even kids.  Teach Children to Save Day starts children off on the right path to saving for their future and is an important service that we can provide in our community – to our friends, neighbors, and customers.”
Katahdin Trust employees are delighted to participate in conjunction with area teachers in helping children understand basic financial principles and the importance of a savings program, not just for today but for their futures.
The following 26 Katahdin Trust Company employees will be reaching out to over 550 students across northern and central Maine: Joe Clukey – Pine Street Elementary School, Presque Isle; Jennifer Collins and Miranda Lundin – Houlton Elementary School; Danielle Brewer – Easton Elementary School; Krista Putnam – Southside School, Houlton; Loni Giberson and Whitney Peavy – Fort Street Elementary School, Mars Hill; Karen MacDonald – Ashland District School; Paula Bernier, Rena Bouchard, Devin Rolph, Crystal Levesque – Limestone Community School; Melissa Dahlgren and Janet Doak – Zippel Elementary School, Presque Isle; Jenny Charette – Washburn District Elementary School; Emily Hosford, Alissa Given, and Kasandra Foster – Katahdin Elementary School, Patten; Janet Lane – Glenburn School; Elisabeth Michaud and Karen Reynolds – Fort Fairfield Elementary School; Jaime Barrows and Lisa Willigar – SACS Elementary School, Dyer Brook; Eunice McAfee and Ann Brewer – Brewer Community School; and Debby Cyr – Van Buren District Elementary School.
Katahdin Trust Company 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. 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 at your local bank for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.
• Give your kids positive feedback.  As they get older, give them responsibility over how they spend their money.
Since its inception in 1997, the American Bankers Association Education Foundation’s Teach Children to Save Day has reached more than 6 million young people with the help of some 130,500 plus banker volunteers.
Learn more at the Teach Children to Save website:  www.teachchildrentosave.com.