Ask A Banker: The Value of Financial Education

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Balancing a checkbookWhile still in high school, I started my banking career more than 12 years ago as a part-time teller. I had a checking account since I was 14, balanced it regularly, so I naturally assumed I would be a pro at banking…

Boy, was I wrong!

I remember being overwhelmed with the dynamics of the banking world and the terminology of numerous bank products and services. CD ladder vs money markets. Credit cards vs debit cards. Home equity loans vs lines. I was an “adult,” yet quickly realized, I had little actual experience with many financial terms and products. Fortunately, I had a great manager who coached me and helped me understand that banking is much more than a checking account with a neat debit card!

Now, More Than Ever

Our country has experienced damaging blows to the economy recently. As a seasoned banker, I see how it affects many families. In my opinion, some this could have been prevented, or perhaps minimized, if someone had taken the time to teach young adults lessons on the complexities of the financial world. Lessons that money does not grow on trees, yet there are products and tools that can help grow savings. Lessons on how to avoid making big financial mistakes that can take years of recovery.

My parents were hard workers who lived paycheck to paycheck. There were some struggles. I assumed it was because they didn’t make a lot of money. I now see it differently. Though great people, my parents didn’t have the knowledge to manage their finances and plan for their future the way that they could have.

ComputerIt’s my goal, as a banker, to reach as many people as possible, and teach them how to manage money, create a budget and plan for the future. It’s my goal to help individuals understand the products and resources my parents were unaware of to plan for a new home, car, retirement and life’s surprises.

I love that Everfi supports this vision and gives me the opportunity to connect with young adults in my community. I recently attended an Everfi kickoff at Liberty High School and met great teachers with the same passion for financial literacy. I look forward to returning to celebrating the success of these students when they complete their course and hear their takeaways; I look forward to see them take steps now towards a financially sound future.

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