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Top City Officials, Community Leaders, and Local Bankers participate in National Teach Children to Save Day
Source: Jonatha King, King Communications

National Teach Children to Save Day was celebrated throughout South Santa Barbara County in a number of local schools on Monday, April 28th. Mayor Marty Blum, President and Chief Executive Officer of the Santa Barbara Education Foundation Chuck Slosser, Executive Director of Easy Lift Transportation Ernesto Paredes, and President and Chief Executive Officer of Montecito Bank & Trust Janet Garufis, along with several other high level employees of Montecito Bank & Trust, teamed up in pairs to visit first through twelfth grade classrooms throughout the day.

The goals of the day included teaching children the importance of saving, how to plan for their purchases, and how to make their money grow. Older children learned how to make their money grow with compound interest, budgeting for things like college and buying a car, and some credit card basics.

Nearly 1,000 children in 34 classrooms throughout thirteen area schools participated. The schools included: La Cumbre and Santa Barbara Junior High Schools; Hope, Monroe, Ellwood and El Montecito Elementary Schools; Marymount of Santa Barbara and St. Raphael's; Bishop Diego High School; Crane Country Day School; Ceasar Chavez Charter School; and Dunn School and Los Olivos Elementary School in Los Olivos.

National Teach Children to Save Day is part of the American Bankers Association Education Foundation's Teach Children to Save Program. Each year thousands of bankers across the country trade in their balance sheets for blackboards to help fill the need for financial education in schools. Since the American Bankers Association Education Foundation's National Teach Children to Save Day began in 1997, thousands of bankers have taught money skills to more than one million students. The official national date is Tuesday, April 29th, but due to the need to coordinate both school and work schedules throughout the local area, South Santa Barbara County decided to take part in the program on Monday, April 28th.

"Studies show that kids aren't learning the skills they need to make smart financial decisions as adults," said Janet A. Garufis, president and chief executive officer of Montecito Bank & Trust. "Communities and schools teach other life skills, such as driving a car, but we don't spend enough time teaching financial skills. Bankers are in the schools today to help fill that gap and prepare future customers for financial success."

The presentations included games and activities about the concept of saving, how interest makes money grow, how to budget and determining needs and wants.

The following tips were also offered to parents to make every day "Savings Day."

• Help kids open up their own bank savings account and make deposits regularly.
• Make going to the bank fun.
• Kids love to get mail, so encourage them to keep an eye out for their statement.
• Talk to your child about the family budget.

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