At Farmers National Bank, we reach out to financially educate families, specifically
children, in the community through participation in and sponsorships of programs
including National Teach Children to Save Day, Get Smart About Credit, Junior
Achievement, Reality Store, America’s Promise, and 4-H. We also invite schools
each year to tour our Bank and speak with our Officers about banking and
We developed the FNB Kids Club to further encourage parents to spend time
talking with their children about money, credit, budgeting, and spending wisely.
It is never too early to learn about the value of money and how to budget and save. The earlier you can teach a child
about earning interest versus paying it, the better prepared they will be to manage their own money. We hope you
find the tools on this site to be helpful, creative ways to teach children to be money-wise.
Children can learn about money and fiscal responsibility in varying degrees depending on their age. We have made some suggestions below to guide you on concepts they may be ready for based on age.
- Start giving your children a weekly allowance to teach them money management. An allowance will make
it easier to learn how to save because the child will learn that they get a set amount of money on a
regularly timed basis.
- Have your child to save for and buy something they really want.
Rewards like this will reinforce their saving habits.
- Give your children three containers labeled Save, Spend, and Share.
They can contribute a portion of their allowance and any cash they received
to each “piggy bank” to teach them how to save regularly, spend wisely, and
give to others. When the save coin bank builds up, bring them to open
their first FNB Kids Club Savings account at Farmers National Bank!
- Begin giving them opportunities to earn extra money by doing additional
household jobs – those beyond their regular responsibilities.
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- Engage children during shopping trips to help teach them what things cost and smart-shopping techniques. Let them help compare product qualities, prices, return policies, and warranties.
- Encourage children to take odd jobs such as baby-sitting, yard work, or pet care.
- Have your children set saving goals and use calculators on this site to determine what they need to save to reach those goals.
- If they want something beyond the basics, encourage them to save their money and buy it.
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- Begin to discuss saving plans for upcoming goals, such as college and cars.
- Before the school year starts or at the holidays, consider giving teens a seasonal clothing or gift allowance, beyond their regular allowance. After setting guidelines and limits let them make their own choices.
- Consider helping financially responsible teens open their own FNB Student Checking account. Also consider letting financially responsible older teens get their own MasterMoney debit card with your co-signature.
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