OLYMPIA, WA.(April X, 2000) – Washington State Treasurer Michael Murphy has proclaimed April Teach Washingtons Children To Save Month to encourage families, schools and financial institutions to educate Washingtons youths about saving for their future.
One of the most important lessons we can teach our children is how to prepare financially for the future, and gaining the discipline of saving is the first step on that path, said Murphy. Throughout the month, I will be talking about the critical importance of saving for the future and how we all need to reinforce that lesson.
A recent analysis by the U. S. Bureau of Economic Analysis showed that as of February 2000, the personal savings rate had dipped to a record low 0.8 percent.
Murphy commented that To encourage schools and banks to work together, I have mailed a letter about the Save for America school savings program to elementary principals throughout the state. I encourage local financial institutions to work with their neighborhood schools on financial education programs such as Save for America.
Teach Children to Save Month
Save for America is a nonprofit program that has been endorsed by the U. S. Dept. of Education and sponsored by the U. S. Dept. of the Treasury. In 1991, Save for America became the centerpiece of a White House initiative to educate a new generation of savers. As part of its school savings program, Save for America offers schools a financial curriculum that includes complete materials and a video.
April 11 is National Teach Children To Save Day and that night U. S. Secretary of the Treasury Lawrence Summers will announce the formation of a national coalition to encourage personal financial literacy. One component of the coalitions efforts will be to help children across the nation learn to save and invest.
Personal financial responsibility may never have been more important than it is now and teaching children to plan for their futures is a habit that will benefit them every day of their lives, said Murphy.
For more information please visit the treasurers Web site at www.trea.wa.us or the Save for America site at www.saveforamerica.org.