Weiser’s freshman and sophomore students learn the value of a quarter

In an age of credit cards and digital banking, Zions Bank employees are helping K-12 students understand the value of a quarter.

 Not only can setting aside a few quarters per week add up to significant savings, the nation’s newest quarters have special face value; they feature the images of influential American women. 

 300 freshman and sophomore students at Weiser High School received newly minted American Women Quarters from Zions Bank’s Weiser branch manager Katie von Brethorst. The quarters, featuring writer and poet Maya Angelou, were part of a lesson on saving and budgeting in honor of National Teach Children Day.  

 “Research shows that children start to develop attitudes about money from a young age,” von Brethorst said. “National Teach Children to Save Day is a chance to help students begin to think about saving and spending in a healthy way.” 

 The savings lesson comes at a time when personal savings are plummeting. After peaking at 33.8 percent in April 2020, the U.S. personal savings rate – the percentage of income left over after taxes and spending – fell to 6.1 percent in January, its lowest level since December 2013.

 This year marks a quarter-century of National Teach Children to Save Day. Throughout the month, Zions Bank is sending dozens of bankers into schools to teach 2,500 K-12 students their financial ABCs. 

 Parents can follow these six simple steps to enhance saving at home:

 • Set the example – model responsible money management by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal finance habits. 

 • Set goals – help your child set short-term and long-term goals so they can learn how to save money they earn through chores, receive as gifts, or get through an allowance. 

 • Start talking – when your children hear you generally discuss bills, loans, and checking accounts, they can learn the roles money plays in our lives. Talk to them about your experiences with money – even your mistakes. Encourage questions and be prepared to answer them.

 • Teach the uses of money – teach your children the four uses of money: spending, saving, giving and investing. Help them allocate their money into those categories. A good formula for that is 10 percent for savings, 10 percent for giving, 10 percent for investing (or long-term savings), and the rest for spending. 

 • Keep track – children learn visually, so you may want to create a system that will allow them to watch their money grow as they save. Clear glass or plastic jars work well. Older children can record the money they earn and where they spend it or open a savings account to see their money grow as they accrue interest.

 • Explain wants and needs – teach children the difference between the things they need and the things they want, and the value of saving and budgeting. There can be real-life consequences when these differences and values are not understood.