(WKBN) – April is Financial Literacy Month. It’s a time to learn more about your money and how it works.
Learning about money can start at an early age.
Seven Seventeen Credit Union has a Dollar Dog Kids Club for children up to age 12.
“Tries to get them familiar with basic financial concepts and helps them to start establishing good saving habits,” said Eric Lanham, of the credit union.
The Cha-Ching Teen Club starts for 13 year olds. It offers a $300-limit credit card, co-signed by a parent, to get into good habits on managing money.
In Ohio schools, it is not a requirement that students take financial education courses. They can be offered as an elective.
Seven Seventeen has worked with schools for 20 years on a program through the National Endowment for Financial Education, providing free materials.
“But then, that is supported by hands-on lessons where kids practice writing checks and balancing checkbooks,” Lanham said.
There have been 30,000 local students who have gone through the program.
PNC Bank focuses more on helping adults have the tools to manage their money effectively.
“We do everything from new hire orientations and informing them of their benefits at that point, to benefit fairs and open enrollment periods,” said Lisa Kowalski, a financial wellness consultant.
It’s noticed that younger generations, specifically Gen Z, want more knowledge. PNC Bank’s Organizational Financial Wellness program goes into businesses and provides this knowledge because workers are stressed about finances and companies are noticing.
“Companies aren’t only interested in helping their employees but also their bottom line,” Kowalski said.
PNC works with 25 to 30 companies a month. The information it provides is to help your bottom line, according to Kowalski.
“They have to choose their own learning path. They’re not going to be into it unless they’re the ones leading it,” Kowalski said.