The United Way of Southern Nevada has announced that the organization will be teaming up with Walter Bracken Elementary School to help teach kids about saving money. According to a press release from the United Way, they will teach 552 students by replicating a "real" banking experience.
With the help of Junior Achievement, Silver State Schools Credit Union, the Andson Foundation, and plenty of volunteers, the United Way's Young Philanthropists Society plans to launch "The Piggy Bank." Complete with a bank teller counter, the kid-friendly bank will seek to teach children about responsible money management.
The kids will learn money-saving tips in the classroom and then apply those strategies when they fill out deposit slips and receive bank statements at "The Piggy Bank."
If you're on twitter, you can follow along with the "Piggy Bank" program by following the United Way of Southern Nevada (@UWSN) or by using the hashtag #UWPiggyBank.
Teaching kids about money management can be difficult. The principles seem so abstract... unless students can have an experience like the one the United Way of Southern Nevada will provide. In my opinion, it isn't important where these lessons take place, whether it's at home with their parents or at school. The critical part is that they do have these hands-on, real-world experiences to help them remember what they've learned once they really have their own money to manage.
How do you teach your kids about the importance of saving money? Do your kids earn an allowance or have other opportunities to manage their own earnings?
Image: ©istockphoto.com/Rob Friedman