FOR IMMEDIEATE RELEASE
Laura Fischer, ABA Education Foundation, 202-663-5466
Liz Fogarty, Citigroup, 212-559-0486
Rosemary Mercedes, Pace Public Information,
212-346-1637, C: 914-424-3845
NEW YORK CITY KIDS LEARN THEIR FINANCIAL ABCs ON NATIONAL TEACH CHILDREN TO SAVE DAY
WHO: Students from MS 131
Bill Thompson, NYC Comptroller
Warren Hochbaum, Deputy of Consumer Services for the
NY State Department of Banking
Dara Duguay, director, Citigroup’s Office of
Susan Cole, director, ABA Education Foundation
Karen Aleta, Director of the Pace Spring Break U
Denise Durham-Williams, National Community Relations
WHEN: Tuesday, April 26 1:00 p.m. – 2:00 p.m.
WHERE: Pace University – New York Campus, One Pace Plaza
New York, NY
(Opposite City Hall and City Hall Park in lower
Media admission is by press card.
On Tuesday, April 26, students from MS 131 will learn their financial ABC(s) on National Teach Children to Save Day. As part of Pace University’s “Spring Break U” program, middle school students will experience what it’s like to be college students. Activities will include a financial education lesson called “The Cost of Cool,” that includes fun activities and games.
In today’s environment of soaring bankruptcy filings and a national savings rate of less than 2 percent, financial education for children is more important than ever. Yet, only seven states* currently require students to take a personal finance course. On National Teach Children to Save Day more than 4,000 bankers will help fill the need for financial education by teaching money skills to thousands of kids across the country.
Currently, children between the ages of nine and 12 spend an estimated $19.1 billion a year, while teens spend close to $175 billion. As the numbers indicate, kids have access to large amounts of money, but research shows that they lack the education to use it wisely. According to KidSense Money Survey, 50 percent of kids said that they never learned about money from their parents. And, one in two said they received no training on the facts of money at school.
*Alabama, Georgia, Idaho, Illinois, Kentucky, New York, Utah.