Teaching Teens about Money

This year Hoehne High School students have a chance to practice money management in the classroom, where mistakes won’t cost real dollars. The First National Bank in Trinidad is sponsoring this program, aptly named How To Do Your Banking. The curriculum supplement allows students to practice checking account management, develop savings strategies, and create personal budgets.

This program is offered as a public service by The First National Bank in Trinidad to all area high schools. “We found surveys indicated only 1 in 3 teens know how to read a bank statement, balance a checkbook or pay bills, and that financial education is among the top three subjects parents want taught to their children,” says Ms. Chris Egland, Vice President. “We feel it is important that young adults have a chance to practice money management in the classroom, where mistakes won’t cost real dollars.” As Mr. Ben S. Bernanke once said, “The financial preparedness of our youth is essential to their well-being and of vital importance to our economic future.”

The material covers the gamut of practical and applied financial education. Students learn the importance of saving, even small amounts, regularly by budgeting as a means of achieving financial goals. How to navigate electronic banking, including ATMs, debit/check cards, chip-enabled cards, online banking, online bill paying, mobile banking, and mobile text banking correctly and safely are also covered in the curriculum. Learning how to keep checking transactions in balance, including reconciling an account with a bank statement, are part of the program. Students also learn how to obtain and use credit responsibly, and how to avoid Identity Theft.

Educational officials throughout the country agree on both the need for and the success of the program. Mr. Michael Rood, Business Education teacher at Hoehne High School, states, “I believe this program is one of the best examples I know of in which the business community helps our schools. It helps to empower our students to understand how to use money as a tool and helps them to move up the socioeconomic ladder”

“By sponsoring this program we are reaching our young people as they are entering the work force and first needing financial service. If we can raise their level of financial responsibility and help them learn good money habits right from the start, it will pay big dividends for them and the community alike,” says Daryl Aubuchon, President of The First National Bank in Trinidad.

The elementary school financial education program, Saving with Mandy and Randy, is also being used in local schools, as an addition to their core curriculum to help address students’ financial literacy competency in mathematics, economics, civics and language arts. Ms. Egland expressed the Bank’s concern that the financial training young people receive has not kept pace with the rate they receive and spend money. “Providing Saving with Mandy and Randy is our way to encourage good savings habits early and help young people achieve future financial success.”

If you are a teacher in Huerfano, Las Animas or Colfax County, and would like to take advantage of one of these programs, contact Chris Egland at The First National Bank in Trinidad at (719) 859-3670. The program is free to schools and includes a teacher’s guide and a workbook for each student in the class.

Hoehne Accounting I Class CN

Mr. Michael Rood’s Accounting I class at Hoehne High School welcomes guest speaker Ms. Chris Egland, Vice President with The First National Bank in Trinidad.

Photo credit: Rich Hoffman-Chronicle News

Hoehne HS 2020 9 BK

In the background (left to right) Nathaniel Veltri and Isabel Martin, and in the foreground, Zachary Hammond and Joale West-Cordova study their worksheets during the presentation. Photo credit: Brad Kirby

Hoehne HS 2020 26 BK

Students Austin Horn, Mara Salbato, Brooke McClain, Caril Valdez (back to camera), Daniela Garcia, and Gianna Colangelo listen closely as Ms. Egland discusses credit reports and how a score can be impacted by repayment history. Photo credit: Brad Kirby

Hoehne HS 2020 36-BK

(left to right) Students Joseph Bustos, Shauniely Torres, and Jared Klipfel are handed sample loan underwriting worksheets by presenter Chris Egland. Photo credit: Brad Kirby