Pinckneyville students learn about financial literacy
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<div class="PlainText">Most young people know more about texting, Facebook and Twitter than they do about budgeting and balancing a checkbook, but one local bank is making efforts this month to fix that.<br /> During April, which is Financial Literacy Month, Murphy-Wall State Bank employees are visiting area grade school classes to present financial lessons. The "Teach Children to Save" program uses lessons that bring together real-life and classroom learning, incorporating hands-on scenarios and children's experiences to help them understand the basic principles of using money wisely. Lessons explore saving, budgeting, prioritizing and more.<br /> On April 6, the bank hosted fourth-graders from Pinckneyville District No. 50 and St Bruno's School. Students toured the bank and watched videos on the history of money, the Bureau of Engraving and Printing, the U.S. Mint and Federal Reserve. They were given a dollar bill to examine and identify some of the characteristics of U.S. currency.<br /> The bank offers the following tips for money-savvy parents raising money-smart kids:<br /> - Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents' personal finance habits.<br /> - Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them - even the tough ones.<br /> - Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.<br /> - Open a savings account at your local bank for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.<br /> - Give your kids positive feedback. As they get older, give them responsibility over how they spend their money.</div>
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