BOUNTIFUL — Knowing how much to save and when to spend can make a big difference to an adult.
And it’s not too soon for elementary students to start considering the two either, according to the American Bankers Association Education Foundation.
The foundation sponsors National Teach Children to Save Day, held every April.
In conjunction with the event, employees from Zions Bank visited students in Idaho and Utah, including 600 in Davis County, to share ideas on saving, spending, investing and giving.
At Valley View Elementary in Bountiful, Frances Larsen, an operations analyst at Zions, visited the fifth grade class of her daughter, Megan, to teach about how money is transferred online and how it must be earned before it can be spent.
Money habits are typically formed by age 7, according to information compiled by the Univerity of Cambridge and included in a press release from Zions.
The release encouraged parents to help their children set short-term and long-term goals about saving the money they earn or receive.
Parents can help children keep track of the money by putting it in glass jars as a visual, or in an interest-bearing account. They can also help children learn the difference between wants and needs.
It encouraged parents to share their own experiences with money – even their mistakes – and to teach their children about bills, loans and checking accounts.
“We’re proud to help support what parents and local schools are already doing to promote financial literacy,” said Daniel Dixon, Zions Bank Senior Vice President, “so kids will grown up to succeed when it comes to budgeting and saving money.”