Saving for a rainy day in Skaneateles

KeyBank professionals teach kids how to save

KeyBank professionals throughout Central New York are going back to school to teach students in kindergarten through high school the basics of money, how to budget and save and understand credit. Using fun-filled classroom activities and role-playing, the KeyBank employees are visiting select schools to teach kids how to start off on a healthy financial path. Although the 11th annual "National Teach Children to Save Day" is officially on April 24, sponsored by the American Bankers Association Education Foundation, KeyBank has already hit the CNY classrooms.

"Managing money is a lifelong skill," said KeyBank's Central New York District President Stephen D. Fournier, "yet opportunities to learn the basic fundamentals as part of our everyday life are sometimes lacking. So the chance to get to children early and help them start off on the right financial foot is an extraordinary opportunity."

Deborah Cole, KeyBank's Skaneateles Branch Manager, said "There is a national savings crisis so the sooner we can get children to develop smart spending and budgeting habits, the better. KeyBank is focused on furthering financial literacy and this program puts that commitment into action."

Cole and KeyBank assistant branch manager Joan Ferreira delivered educational presentations to 150 sixth grade students at Skaneateles Middle School. Cole's daughter is a sixth-grader in Skaneateles, so mother and daughter worked together on the presentation. Cole said she bounced ideas off her daughter to determine the best approach to speak this age group.

Teens spent $159 billion in 2005 according to Teenage Research Unlimited. Teens are a powerful force in the economy. Marketers know their purchasing power is huge, and therefore teens are inundated with advertisements and are pitched for new products each day. Because they are buying, typically they're not saving for the things they will need in the future. KeyBank is providing guidance in order to help young people learn how to budget, save and manage their money responsibly.

For more information, visit aba.com/Consumer+Connection or call 1-800 BANKERS.

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