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BREAKING NEWS

Learning to save

By Staff | May 26, 2010

Students watch NorthStar employee Ann Harris count the money the children collected. EDN photo by David Swartz

Americans don’t save enough of their money-or so the pundits say.

Teaching children to save could help eventually reverse that trend.

On Monday, members of Mrs. Solberg’s first-grade class visited NorthStar Bank to learn first-hand about saving as well as what happens at a bank.

Prior to their visit, the Estherville Lincoln Central students read a book about banks and their two main purposes-to keep money safe and to loan money for big ticket items such as cars and homes.

Students also learned it takes good math skills to work in a bank and about the different denominations of money.

Safe in a safe—Carol Solberg’s `first-grade class visits the safe at NorthStar Bank Monday afternoon as the students learned about the world of banking. EDN photo by David Swartz

Throughout the year, the first-graders also collect pennies in a big jar. It was brought to the bank for counting.

The class was fascinated by the machine that quickly counted their money-$72.78 cents.

Solberg said the class save a third, spends a third and gives a third to charity. The third that is saved eventually buys things for the classroom.

The portion spent may be used for a bowling day-but that wasn’t absolute.

A recent contribution went to Woody’s Charities, but a charity for this newest money hadn’t been chosen yet.