Wells Fargo team to educate kids on ways to save money | News
Wells Fargo bankers are fanning out across Alabama and the rest of the country to connect with students of all ages in classrooms as part of the annual American Bankers Association’s Teach Children to Save Day.
Considering that students accrue an average of $4,100 in credit card debt and more than $23,000 in student loan debt by the time they graduate from college (FindAD.org and Sallie Mae), it’s more important than ever for young people to learn the basics of budgeting, saving and managing credit.
In Huntsville, Wells Fargo team members will educate 7th and 8th graders at Westlawn Middle School on April 19th. Wells Fargo is participating in the Teach Children to Save initiative throughout April and will be visiting schools all month long.
Lessons are based on Wells Fargo’s Hands on Banking® financial education curriculum. Customized for various age groups from children to adults, the fun, interactive tool teaches fundamental money management basics that are crucial to achieving financial success. (See www.handsonbanking.org.)
According to the National Endowment for Financial Education, teenagers spend more than $172 billion per year. Yet, the 2008 National Jump$tart Coalition Survey for Personal Financial Literacy shows that high school seniors answered less than half of the questions correctly, scoring an average of 48.3 percent – the lowest score recorded since the survey began.
Information from Huntsville "Teach Child To Save Day" news release.