By Dave Woods | Official Kids Mag
J
amie Vaughn and Annette King
know a lot about banking. They
also know a lot about kids. The
two moms, who both work for First
Security Bank, often counsel their kids
(and adults) on the ins and outs of
financial responsibility.
Jamie, a retail operations manager
for the bank, admitted… she wasn't a
good saver as a kid.
"The biggest thing that I tell younger
kids coming in to open their first
checking or savings account is it's
important not living paycheck to
paycheck," she said. "You need to have
a little security. If you need money,
you have it. If you have a big purchase
coming up you don't have to stress
about it. It's a lot easier if you have a
plan."
Annette, the bank's vice president
of marketing, teaches her kids
responsibility along with financial skills.
"We have a responsibility chart at
home," she explained. "Each kid,
depending on their age, has different
chores. They get checkmarks. Every
time they get a checkmark that
determines how much money they get
paid. If they don't do the work, they
don't get paid. The same as a job. It's
the American way."
Jamie said she is often surprised at
how adept kids are when it comes to
financial decisions.
"They want to keep their money, but
spend everybody else's money," she
said, laughing. "They
are a lot better
about saving than
they think they are.
If your money has a
purpose, you have a
plan. I don't think it's
ever too early to start
saving."
Annette regularly
talks with her kids
about the plans
for their money and what is the
responsible way to handle it.
"On Saturday they get their pay,"
she explained. "We talk about how
you put some money into savings, how
some money is for spending and some
money for Jesus."
But, she admits… kids are kids.
"My kids like to spend money as soon
as they get it," she said. "They like to
go buy basketball cards and toys, but
we talk about how to save your money
so you can buy those bigger items."
Jamie often teaches saving and
financial responsibility classes for kids
who are opening up their
first savings or checking
accounts. She said
the message is pretty
simple.
"We talk a lot about
needs versus wants,"
she explained. "Is this
something that you
need to have, or just
something that you want
to have? That's what we
focus on."
Annette said something
as simple as a piggy bank
can start a kid down a
successful path to saving.
Bankers offer advice
to kids about saving,
spending money
'It's real
money'
Gavin
&
Allie
Hunter
Emily
12 • Official Kids Mag • MAY & JUNE 2018
