Sharla Dinneen and Meredith Emshoff share about savings with the Exeter-Milligan Kindergarten, first and second graders. The second graders are pictured below.
Exeter-Milligan elementary students enjoyed a lesson a
saving versus spending courtesy of Generations Bank on Friday, April 11th.
Bank employees Sharla Dineen and Meredith Emshoff gave a
presentation to encourage the elementary students to save money at both
elementary campuses.
The event was held to celebrate National Teach Children to Save
Day that Generations Bank has participated in for the last 18 years.
To help the students see the difference consistent saving
makes, the bankers presented the two realistic scenarios to see if two brothers
Kyle and Todd could reach their savings goal. One was a saver and one was a
spender that the students could identify with, “Remember that either way, if
you track your money you can see what you have spent and what you have saved
and how close you are to reaching your goal," explained Dinneen.
During their talk Dinneen and Emshoff questioned the children on their own money
habits. Most of the students reported
that they were savers. The students had
the opportunity to share when they had saved for a big ticket item.
One of the most important lessons the volunteers hoped to
bring to the children was the difference between delayed and instant
gratification.
Before leaving Dinneen and Emshoff gave the students
cookies, drinks and a plantable wildflower seed bill courtesy of Generations
Bank.
Fun facts shared with the students:
When the US mint began minting coins, it took more than two
years to mint one million coins. Today
the Philadelphia Mint produces that amount in about 45 minutes.
The cost to make a penny was 1.8 cents in 2013, according to
the US Mint and it costs 9.4 cents to make a nickel.
Coins usually last for 25-30 years. Dollar bills usually last 18 months while the
50 and 100 dollar bills often last 9 years.
The two dollar bill usually lasts up to 36 years.
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