Teaching the financial process

Friday, the After-School Academy took a field trip to Washington Mutual.
We prepared to "act like bankers" before we went in. Four parents went with us so that their children could open a savings account. The bank allowed the children to put in as little as 25 cents to start saving. Nine children opened savings accounts.

As the kids waited,

...parents set up their child's savings accounts

...grandparents set up their grandchildren savings accounts

...parents/grandparents taught their children/grandchildren how to deposit their money

...kids were taught how to read a deposit receipt

...and kids interviewed the bankers.

Bankers of Today!!!

I love the fact that we have a financial Literacy class. The children are learning how to write checks and balance their checkbooks. We are talking about Kindergarten-5th grade, and they are doing a great job. This is helping them brush up on thir math skills also. Ms. Janet taught the younger kids yesterday on how to add and take away when using their check registers. This new way fo discipline is working out very well. The children know that they can earn money(not real money) for good behavior or they can get money taken away if the make bad choices. If they get enough money they can purchase items from the ASA to use for the day, like: a camera, voice recorder or weekend back pack full of goodies. They love it ! Three have already bought either a camera or voice recorder. Now, the other kids are working very hard to earn enough to do the same. I wish that, when I was younger, some one would have taught me how to save and balance my money. I think that bringing this class into the ASA was a brilliant idea, with the way the economy is going by the children learning this now, it will profit them in the future. One of our upcoming fiels trips will be to WaMu, so that the children and their parents can open up their very own savings account.