Teaching Kids About Money
Most experts on childhood development agree that the earlier children are taught good habits, the better. That's why, since 2004, Fifth Third has offered a financial literacy program that reaches children at an early age to teach them about the importance of good education, finances and personal responsibility. The Young Bankers Club is for fifth-grade elementary school students and provides a customized curriculum that meets national educational standards for fifth-grade mathematics.
More than 14,000 students have graduated from Young Bankers Club since its inception. Young Bankers Club teaches kids the basics about money, including what it is and how people get it, the importance of saving and how education and career choices affect their future.
Young Bankers Club is taught inside school classrooms, often by a Fifth Third Bank employee mentor. The program can also be tailored to be taught by the teacher, and can be taught as a five- or 10-week program, or adapted to meet a teacher's own lesson plans. Young Bankers Club is also available in Spanish.
After completing the program, students earn a certificate of completion and are able to:
- Identify what money is.
- Understand the difference between wants and needs.
- Make basic money calculations.
- Explore various careers and how much income they can earn.
- Learn the basics of the stock market.
- Understand the operations of a bank branch or financial center.
- Create budgets and study spending.
- Examine interest and credit cards.
- Practice managing a bank account.
- Learn how to create a business plan for a small business.