Why is financial education so important?

 Every one of us works very hard for the money we earned, wouldn’t you want that money to be the safeguard of your future and grow?   Studies show that many Americans are spending more than they save. With our uncertain economy, it is important that consumers understand the value of saving and the proper conservative way to manage ones finances and make appropriate financial decisions for the future.

“Life’s little surprises often require Money”

Having a deep understanding of how to administer our hard earned money can help to relieve the sting of financial surprises. This is the sensible way to achieve security and ease worries.

What is financial education?

For centuries education has been the tool to make safe thriving decisions. Likewise, financial education provides the tools to understand and manage your money and investments to make them grow and provide a safe and comfortable future.

Why does FMB invest part of its resources in Financial Education?

As a Community Bank, who has been building financial futures for over 100 years, we understand that if we help educate our community members we are planting strong roots for healthy future financial development in the communities we serve.

How does FMB help educate its community?

FMB employees help to educate our community in a variety of ways.  First, we go with a variety of visual aids, to schools, institutions and organizations to teach a range of different financial education topics to groups of many different ages and backgrounds. We also host bank tours, where branch managers along with their staff welcome groups of elementary, middle, and high school students to tour our facilities. They learn what a bank is, what it does, why do banks exist and offer the services and products they do, the different types of security preventions a bank must take to secure it’s personnel and it’s customer assets, job opportunities, among many other responsibilities, tasks and situations a bank undertakes on the daily basis. In addition, customers can always request educational materials from any FMB office.

Is FMB involved in any special events?

Yes.  FMB takes part in two different event regulators organize every year, Teach Children to Save in April and “Get Smart About Credit” in October.

 

Resources

Federal Deposit Insurance Corporation

FDIC Offers Saving Related Resources

To help you establish a better understanding of your financial possibilities, below are useful websites and materials for all groups and ages.  

WEBSITES – Personal

Children/Teachers/Parents

Teens/Teachers/Parents

Adults - Consumer and Financial Education
Adults - Consumer Credit

WEBSITES – Teachers

This web site provides all the information related to a free High School Financial Planning Program (HSFPP) provided by the National Endowment for Financial Education (NEFE).  This HSFPP program was planned and developed based on a special type of education refer to as "performance-based learning".   With performance-based learning, students take what they learn and apply it directly in the course of each unit. Cautiously designed exercises and activities move the student step-by-step toward each of the seven core competencies that the program teaches. In the process, students:
  1. Create their own financial plan
  2. Create their own budget
  3. Propose a personal saving and investing plan
  4. Select strategies to use in handling credit and managing their debt
  5. Demonstrate how to use various financial services
  6. Create a personal insurance plan
  7. Examine how their choice of career and lifestyle will affect their financial plan

Institute of Consumer Financial Information

This website contains free information and tips regarding credit, savings, spending, and much more for children, parents and even grandparents!  In addition, a credit education course for high school seniors and college students, education and information on the dangers of debt accumulation while young, savings and investment information, first-time credit information and financial planning education is also available.  However, the course as well as some videos and books are not free.  The resources on this website are provided by the Institute of Consumer Financial Education.

A to Z Kids Stuff - Fun Educational Activities

This specific web site contains information and activities for toddler and pre-school students.  The activities are provided at no cost; however, some other resources such as coloring books may have to be purchased.

Jump$tart Coalition for Personal Financial Literacy

This web site contains financial education information and resources, additional financial education websites, events, and much more!