Business

Speaking on Business: Financial Literacy

Financial literacy starts young, and teaching kids about managing their money is one of the most important things they need to learn.

Chris Redgrave Apr 19, 2019


This is Chris Redgrave for Zions Bank Speaking on Business.

Listen to how smart Utah is – WalletHub ranked Utah No. 2 on its list of states with financially literate residents. That is critically important with American credit card debt surpassing $1 trillion in 2018, only 2 in 5 adults having a budget and college debt in the U.S. at $1.5 trillion. The need for financial education is great, starting with our kids.

Today is National Teach Children to Save Day, an outreach program offered through the American Bankers Association Education Foundation with a goal to encourage children to start saving now. A study from the Center on Assets, Education and Inclusion found that children with even a small savings account are three times as likely to attend college and four times as likely to graduate. In addition, recent research suggests that children who actively save for college build stronger expectations about attending.

Financial literacy starts young, and teaching kids about managing their money is one of the most important things they need to learn, yet many graduate from high school without a basic understanding of credit, budgeting, school loans or taxes. Teach Children to Save Day introduces this education. Zions Bank has been supporting National Teach Children to Save Day since its inception and dozens of employees will be visiting local schools to teach over 6,000 students a lesson on budgeting and saving money.

For Zions Bank, I’m Chris Redgrave, speaking on business.

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