Scammers are Spoofing a NEBAT Phone Number & Impersonating Employees - Beware!
We've recently received reports of fraudsters spoofing a National Exchange Bank & Trust phone number and claiming to see unusual card charges from Walmart, Target and other stores. They are asking to "verify card information." If you receive a call, text or email, do not engage. DO NOT SHARE any information unless you start the conversation using a trusted and verified local number. Stay safe and vigilant!
April is Financial Literacy Month, a time to highlight the importance of financial education. It’s a great time to reflect on how you have been helping the kids in your life develop money management skills or create a plan to help start their financial education journey. Imagine a world where every child grows up with the skills to manage their finances responsibly, making informed financial choices as they navigate life’s challenges. This month offers a special opportunity to reflect on how we can make that vision a reality!
Explore the benefits of youth financial literacy, get helpful tips for introducing money concepts to your kids, and find out how National Exchange Bank & Trust can be a partner in setting them on the path to financial success through our Youth Financial Programs. Let’s help them build a strong foundation for their future!
Teaching kids how to manage money isn’t just about handing them cash or setting up a savings account - it’s about giving them the tools they’ll carry with them for the rest of their lives. Imagine a child deciding how to spend their allowance, carefully planning for a big purchase, or even managing debt when they’re older.
Take, for example, the moment when a child learns the difference between needs and wants. Suddenly, they’re not rushing to buy every toy or gadget they see. Instead, they begin to make thoughtful choices and avoid impulsive ones. When they grasp the importance of budgeting and saving, they start to see the bigger picture - learning how to plan ahead, make responsible decisions, and take control of their financial future.
The advantages of financial education for kids are far-reaching. The earlier kids are exposed to financial education, the more likely they are to manage their finances responsibly in adulthood. Learn how to help them build a bright financial future with National Exchange Bank & Trust's Steps Youth Financial Programs.
Steps Youth Financial Programs
Financial literacy for kids is important as it helps build the tools and resources one needs to understand the concepts of money management. At a basic level for kids this can include how to earn, save and spend, wisely. Advantages of teaching financial literacy to kids starting from a young age include:
One of the major benefits of financial literacy is helping kids avoid common financial pitfalls as they get older. Without this education, many young adults make mistakes that can haunt them for years such as overspending, accruing debt, or failing to save. Teaching kids about managing money helps prevent these mistakes.
Financial literacy isn’t just about managing immediate needs; it’s about understanding the importance of long-term financial goals. Kids who are taught about the benefits of saving for college, buying a home or even starting a retirement fund are more likely to plan ahead and make choices that support their future financial security.
Financially literate kids grow into independent adults who can manage their finances on their own and understand when and where to seek advice. This independence is vital for their self-esteem and overall well-being, as they can support themselves, set financial goals and achieve them on their own.
There are many ways to introduce kids to the concept of financial literacy. Start small by teaching them how to save in a savings account, and gradually increase the complexity of their financial education. Here are some strategies to get started:
Teaching money skills is most effective when lessons match a child’s age and developmental stage. Here’s a practical guide for parents to build youth financial literacy by age group:
Identifying, sorting, and counting coins and bills to understand their value.
Differentiating between needs and wants.
Learning that banks are a safe place to keep money.
Discovering how money is earned.
An early introduction to the concept of borrowing.
Developing short-term and long-term saving goals.
Identifying factors that affect the decision to spend or save.
Learning the components of a budget.
Understanding what banks do, how interest works and why saving for emergencies is vital.
Evaluating different choices when making a purchase and understanding "opportunity cost."
Understanding credit scores and the difference between credit cards and debit cards.
Decoding a paycheck to understand factors affecting gross pay.
Researching career paths, costs of education/training and costs of renting vs. owning.
Learning how to secure personal data and identify scams.
Managing the day-to-day costs of living on your own.
Using retirement vehicles and understanding how factors affect personal purchasing power.
Learning how to maintain long-term creditworthiness.
Understanding basic business management and tax reports.
There are plenty of age-appropriate lessons and activities out there to help you get started without having to recreate the wheel. A great example is our financial education resource pages, including our pages for children, teens and young adults.
National Exchange Bank & Trust also offers financial education presentations for schools, businesses and community organizations. Contact your local office to learn more.
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