Teaching 1 million kids to save money - KWWL - Eastern Iowa Breaking News, Weather, Closings

Teaching 1 million kids to save money

Dubuque (KWWL) -- In times of a tough economy, the importance of saving money becomes more apparent. By the end of the year, bankers are trying to teach one million kids to do just that.

The American Bankers Association does a program every year to teach kids about saving. But this year, they want to reach more. It's called the Million Child Challenge: A campaign to teach one million kids to save money by year's end.

A Dubuque bank is making a dent in that number visiting 900 kids.

First graders at Hoover Elementary already know how to count money and even which presidents are on coins, but Tuesday, they learned some big words for why they should save money in a savings account: interest and FDIC.

Lynne Hager showed kids why their money is safe in an insured financial institution and why interest can mean free money.

"We feel that getting them at this age is a perfect way for them to start learning how to save and as their money grows, they realize they can continue to do this when they get older," Hager said.

Hager says the program teach children to save is even more important this year when many kids see their parents trying to live on less money.

Teaching more than one million children would double last year's number of 540,000 students.

Online Reporter:  Jamie Grey

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