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Living & Thriving Guest: Dr Ed Anhalt, President for Banking for Kids

  • Broadcast in Parents



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It is a well known fact that there is a strong link between financial education and the ability to manage and save money. But did you know that the Banking on Kids program was specifically designed to begin this learning process at the elementary/middle school level. 

In 1995, the first Banking On Kids student-run bank opened . It proved to showcase just how simple it is to teach "banking concepts" to very young children.

The intent of opening a bank within an elementary/middle school is threefold:

  1. To teach kids at a very young age the value of saving.
  2. To design a banking curriculum that would teach money issues i.e. the origin of money, compound and simple interest, banking systems, and the workings of the Federal Reserve, and
  3. To offer real-world experience by allowing students to operate a real bank using real money.