Courtesy Renee Altomonte

PS 16 and TD Bank Team Up to Teach Kids to Save Money

On February 20th, the students at PS 16 got their first lessons in financial literacy. As part of their educational outreach program, representatives from TD Bank visited the school to teach kids the value of money, how to save it, balance a checkbook and earn interest.

TD, which just opened its 20th branch in Brooklyn, also offers free financial literacy programs for adults and small businesses as part of their overall community outreach strategy.

“The big lesson is the value of saving money for the things you want and need in life,” explained TD’s Brooklyn Retail Market Manager Renee Altomonte.

PS 16 Principal Mary Renny, a TD customer, noticed a flyer about the program at the bank, and filled it out. A week later the event was set. “I believe that if you start a habit of saving young, it will continue,” she said. She noted that “the younger kids got more out of [the presentation]. They were really into it. It’s easier to teach younger children new habits than it is to teach older ones.”

Renny will soon find out how effective the lesson was. “I’ll see how many kids bring their parents on March 13th, when we have parent – teacher conferences.” TD representatives will be on hand to open savings accounts with parents for the children.

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