Empowering the Future: Celebrating Financial Literacy Month

April is not just a month of blooming flowers and warmer weather—it’s also Financial Literacy Month, a time dedicated to raising awareness about the importance of financial education. As we embrace this month-long celebration, it’s important to recognize the significance of introducing financial literacy to our youngest generation.

Financial literacy is more than understanding how to manage money; it’s about empowering individuals to make informed financial decisions that can positively shape their futures. And when it comes to teaching financial literacy, starting early is key. Here are some tips to teach our youth how to be financially responsible:

• Lay the Foundation
  • Introduce financial concepts to children at a young age by teaching them about needs vs. wants, saving and budgeting to instill a sense of financial responsibility from an early age.
• Empower Future Generations
  • Share your values and experiences with money, to encourage questions and discussions. From understanding the basics of banking to making informed decisions about investments, financial literacy empowers them to take control of their futures.
• Lead by Example
  • Parents influence children’s attitudes toward money through their own financial practices, such as timely bill payments, wise budgeting and regular saving.
• Create a Chore Chart
  • Give allowances tied to completed tasks like household chores and require them to save a portion weekly. The three jars method (spending, saving and charitable contributions) can help foster responsibility.
• Build Healthy Saving Habits
  • Consider opening a savings account for your children at your local BNH office and involve them in the process of making deposits. This not only teaches them the importance of saving, but also helps them develop a hands-on understanding of money management, supported through responsible account management with online banking.

Bank of New Hampshire is proud to highlight the importance of financial literacy amongst all age groups. This Financial Literacy Month, join us in empowering the future generation to become savvy savers, responsible spenders and informed investors. Start our youth on the path to financial independence today with our specialized savings accounts for kids and teens.