Twenty-five percent of American families have no savings at all, while the average amount of household credit card debt is more than $15,000. However, some local bankers are trying to make sure the next generation is a little wiser with their money.
NebraskaLand Bank visited Glenwood Elementary in Kearney to teach fourth graders a lesson in basic economics.
The kids learned about how their parents receive money through direct deposit; they found out how writing a check works; and they seemed to be most excited when they started to learn about savings accounts and how their money can grow with interest.
"It is important to save money," said 4th grader James Sucha. "The safest place is to put it in a bank and you should talk to your parents if you don't have one, to get a savings account."
Students also learned the dangers of having bad credit.
At the end of the lecture students came up with ideas on how they can make money, like doing extra chores at home.