There are many ways Pillar Bank contributes to the financial well-being of the communities in which we serve. One of the most important ways is to provide financial education, information, and resources.
Financial literacy programs and workshops address various demographics, including children, teenagers, adults, and seniors. These programs include topics such as budgeting, saving, investing, understanding credit, and avoiding debt.
We collaborate with local schools including Baldwin Woodville, Spring Valley, Plum City, Ave Maria Academy and Clear Lake schools to provide financial education resources and support such as guest lectures, materials, and classroom presentations through the Reading Raises Interest/Teach Kids to Save initiative. As part of this initiative, kids receive a tour Pillar Bank.
This month, we’re featuring a kids’ coloring contest to encourage saving. Stop in any location and pick up a coloring sheet for the kiddos. Winners in each age category receive $10 in their Kids account.
Additionally, Pillar Bank provides blog resources such as Empowering Your Financial Journey, Local Cents podcasts include Boosting Financial Literacy with Erik and Hilari and Financial Tips and Tricks with Hilari Henke and can be found wherever you listen to podcasts, and through monthly newsletters. We’re here to help you and your family thrive.
Ways to Teach Kids About Money
Lead by Example – Children often learn best by observing their parents’ behavior. Demonstrating responsible financial habits, such as budgeting, saving, and avoiding unnecessary debt, can set a positive example for children to follow.
Involve Children in Financial Decisions – When appropriate, involve children in family financial discussions and decisions. This could include discussing household budgeting, comparing prices while shopping, or explaining the reasoning behind financial choices.
Give Allowances – Providing children with an allowance can teach them the value of money and how to manage it. Encourage them to allocate their allowance into different categories, such as spending, saving, and giving.
Set Savings Goals – Help children set short- and long-term savings goals, such as saving for a toy, gadget, or college education. This can teach them the importance of delayed gratification and the benefits of saving over time.
Use Real-Life Examples – Look for everyday opportunities to teach children about money, such as when paying bills, going grocery shopping, or making charitable donations. These real-life examples can reinforce key financial concepts in a practical context.
Introduce Basic Financial Concepts – Start with age-appropriate concepts such as earning money through chores, the difference between needs and wants, and the importance of giving back to the community.
Encourage Entrepreneurship – Encourage children to explore entrepreneurial endeavors, such as starting a small business or selling homemade crafts. This can teach them valuable lessons about earning, saving, and managing money.
By combining the efforts of Pillar Bank with proactive financial education within families and schools, children can develop strong financial literacy skills that will serve them well throughout their lives.
Kid’s Club Savings- https://www.pillar.bank/personal
Listen on Spotify– https://open.spotify.com/episode/4ihcn3ebB4InZfEIykOBqb