OVB Boot Camp brings financial fun to 4-H

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Campers learn how to budget with candy.

Summer and 4-H camp go together like peanut butter and jelly. Ohio Valley Bank was pleased to once again teach a class at Mason County 4-H Camp this year. The class, OVB Boot Camp, was offered at both older and younger camps.

OVB Boot Camp has become a tradition in Mason County 4-H, and several campers returned to enjoy this year’s class. In addition, several new campers participated as well. In total, 21 campers completed the program.

“I really enjoy seeing familiar faces return and choose to take our OVB Boot Camp class each year. It’s nice to see their progress. It’s especially enjoyable when a camper moves up from younger to older camp and continues to take the class. We really get to know many of these kids and it is so much fun seeing them learn and grow,” Hope Roush, OVB financial literacy leader, said. “I also enjoy welcoming new campers into the OVB Boot Camp family. I really like seeing the veteran campers take an active role in helping the first-timers because it again shows me how much they’ve learned.”

OVB Boot Camp covered a variety of financial topics at both camps. Lessons were presented in a fun, interactive format. For example, students had to make financial decisions based on a candy budget. Additional lessons and games included the following:

  1. Basic account types
  2. Basic bank paperwork, including check writing as well deposits/withdrawals
  3. Interest
  4. Debit vs. Credit
  5. Budgeting

Along with each daily lesson, campers participated in a game where they had to juggle a mock portfolio of their bank accounts. Each day they drew a Real Life Card, which either required them to pay a bill or provided them with unexpected cash. Campers also had an opportunity during this time to make deposits and withdrawals from their accounts. In addition, campers could choose to give in to their sweet tooth temptation and spend their money on snacks or continue to save. This year’s older camp portfolio winner was Olivia Stanley, while Audrey Reynolds took top honors at younger camp.

On the final day of both camps all accounts were liquidated. Campers had the opportunity to use their mock money to bid on real prizes at the annual OVB Boot Camp auction. Everyone was able to purchase at least one fun item. Prizes included a range of snacks, toys, games, movies and gift cards. Campers were excited to take home all of their purchased prizes.

“The auction is really fun for our campers, but more importantly it’s where they really see the importance of saving money and making wise budget choices. They quickly learn that the kids who practiced those skills have the advantage as they are able to provide the highest bids for the more popular prizes. It’s another way to really show them the value of money in a semi-real world setting,” Roush said.

Both older and younger campers did a great job this year. Campers showed how much they learned every day with banking trivia and other activities. Camper Molly Fisher has taken the OVB Boot Camp class many times and said that she always learns something new.

“In OVB Boot Camp I learned about investing in the stock market, money market accounts, certificate of deposits and much more. The valuable knowledge I have gained in this class will help me with my future endeavors. This class was very beneficial to me,” she added.

Camper Lyndsey Ward, like Fisher, is another camper who has participated in OVB Boot Camp multiple times. As this was Ward’s first time in older camp, she said she was able to learn even more money management skills.

“I also learned about credit and debit cards. This is my favorite class and I learned the most here,” she added.

Camper Riley Oliver described OVB Boot Camp as a good place to learn the importance of budgeting.

“I learned how to control my money. I learned how to work with banks on loans and other things. I also learned about how interest works with credit cards,” he said.

Camper Kate Henderson agreed that learning about budgeting was important.

“In OVB Boot Camp I learned how to manage my money. I learned the different types of accounts you can have and the rewards and consequences of each. I also learned how to write a check and how to do deposit and withdrawal slips,” she said.

Camper Aiden Wallis said the budgeting game was fun because it made him appreciate his parents.

“I had to think about what my parents spend and pay each month,” he said. “I also learned how to save money and how you need to pay for insurance.”

Credit vs. Debit was an interesting lesson for Camper Cara Russell.

“I’ve learned a lot in OVB Boot Camp. One thing I learned was the difference between debit and credit cards. I also learned some of the downfalls you can encounter with a credit card. This class was really fun and I’m ready to come back again next year,” Russell said.

OVB Boot Camp was created in 2005. To schedule OVB Boot Camp or for more information on the bank’s other financial education programs, contact Roush at 740-578-3452 or e-mail hdroush@ovbc.com.

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OVB celebrates Financial Literacy Month, TCTS Day

Financial literacy is important for all ages. However, educating children on the importance of making money-smart decisions will prepare them for adulthood. It’s never too early to teach children how to successfully manage their money.

As part of the bank’s financial literacy programs, OVB is celebrating Teach Children to Save Day. OVB has participated in the American Banker’s Association’s Teach Children to Save campaign for several years. According to the ABA, Teach Children to Save along with the foundation’s other financial education initiatives has reached 10.5 million youth through the commitment of many bank volunteers, including OVB.

While Teach Children to Save Day is today, the entire month of April is designated as Financial Literacy Month. OVB continues to celebrate Teach Children to Save all spring and will conduct programs during the fall and winter upon request. On Wednesday, April 17, OVB will present their Adventures in Saving program, featuring The Centsables, at Washington Elementary School in Gallipolis, Ohio. The presentation will be part of the school’s annual career fair, which OVB has also proudly taken part in for several years. Adventures in Saving is a fun, interactive lesson on saving, which perfectly coincides with the Teach Children to Save campaign. Topics included in the presentation focus on the following:

  1. Wants vs. needs
  2. Creating a savings plan
  3. Making deposits
  4. Interest
  5. Budgeting

The ABA encourages parents to take an active role in Teach Children to Save as well. Both the ABA and OVB urge parents to utilize the following tips as they teach their children the importance of making sound financial decisions.

  1. Set an example. By being responsible with your money and showing your children the importance of paying bills on time, setting savings goals, and budgeting, you will help them understand money management. Children often emulate their parents’ habits, which includes their financial well-being.
  2. Make budgeting an open discussion. Talking about money openly with your kids is a great way to communicate your financial values and experiences. Encourage your children to ask questions, and be prepared to answer them.
  3. Show children the differences between needs and wants. Often kids and adults prioritize their wants over their needs. Show your children the value of budgeting by taking care of your needs first as well as making saving a priority.
  4. Open a savings account for your children. Involving your child with banking at an early age can help them be more prepared to handle finances as an adult. Bring them along as you make deposits. Also, ask OVB about our Statement Savings account, which does not require a minimum balance for customers ages 18 and under. It’s never too early to start saving!
  5. Involve friends and family with your child’s new savings goal. It takes a village to raise a child, and having others encourage your kids to save their money will help them realize the importance of doing so. Teach them how to save money they receive for special occasions, such as holidays and birthdays.

To schedule a Teach Children to Save presentation or for more information on OVB’s financial education programs for children and youth, contact OVB Financial Literacy Leader Hope Roush at hdroush@ovbc.com. Presentations are currently being scheduled now through December 2019.

Have a happy, budget friendly Valentine’s Day

2019 Valentines Day Post Pic

While many folks joke that Valentine’s Day is nothing more than a scheme for greeting card companies and florists to rake in extra cash, it can still be a day to celebrate those you love. If expense is an issue, there are plenty of ways to enjoy Cupid’s holiday without breaking the bank. To quote the Beetles: “money can’t buy me love.”

Whether you are planning a romantic Valentine’s Day with your sweetie, a family filled day of love, or a fun day with friends, we’ve got you covered. We hope the following ideas can help you make this year’s holiday the best one yet.

  1. Explore your local community. While romantic getaways are great, they can be quite expensive. Instead of racking up debt by going on a vacation, this Valentine’s Day take advantage of your local area. A stroll through the park can be a romantic way to spend the day and won’t cost you a thing. Bonus? It’s a good way to get in exercise and begin a healthy lifestyle together. If that’s not your thing, check out local museums, which typically offer free or low cost entry. You never know what hidden gems you may discover in your own backyard. Also, check your local newspapers or social media groups to see if there are any Valentine’s Day events in your area. Many churches often host Valentine’s Day dinners for families and couples. Local restaurants typically offer Valentine’s Day specials as well.
  2. Take advantage of your OVB Visa Rewards. By using your Scorecard rewards points you can save money and still have the perfect Valentine’s Day with your sweetie. For example, use points to book an overnight romantic getaway. Booking your stay is simple as it can be done directly from the EZCard site.
  3. Put your chef skills to the test. Meals made with love are often the best kind. Dust off your recipe book and cook a special meal for the one you love. If you know what their favorite dish is go with that or try something new that you can both enjoy. Not feeling confident alone in the kitchen? Consider cooking a fun, Valentine’s Day meal together as part of your date. Just make sure to avoid any food fights!
  4. Host a progressive dinner. If cooking an entire meal is too time consuming and you’d rather spend Valentine’s Day with a group of friends, plan a progressive dinner. This works by having each couple/family host a portion of the meal. You travel from house to house enjoying each course from appetizers to dessert. Throw in some board games and this makes for a fun evening out with friends that won’t strain your wallet.
  5. Hit up a matinee. If a classic movie date is your Valentine’s preference, why not save a little money and go for a matinee? Matinees generally are less expensive than evening shows. If you work during the day, perhaps celebrate Valentine’s Day on a weekend afternoon this year. Check your local theaters for any Valentine’s Day deals.
  6. Transform your living room into your personal theatre. If you would prefer to stay in or want to save on movie ticket prices, host a movie night at home. This is a great couple or family activity. Each person can choose their favorite movie to add to the lineup. Make it a full theater experience with some microwave popcorn and candy for all to enjoy.
  7. Go cheesy – literally – by ordering a heart-shaped pizza. An oldie, but a goodie. Don’t have time to spend hours in the kitchen but also don’t want the cost of going out to eat? Order a heart-shaped pizza. Many pizza restaurants have the themed pies available on Valentine’s Day. Its, cute, it’s cheesy, what’s not to love?
  8. Donate blood. This one might come off as a bit creepy, but donating blood is actually a great way to bond as a couple as you help those in need. Donating blood together can be a meaningful experience. Ask your local hospitals or Red Cross centers on how to get started. Bonus? After you donate blood you usually get to indulge in a sweet treat!
  9. Make homemade valentines. Creating your own valentines is something both couples and families can enjoy. Store bought cards can be quite pricey, so why not put more meaning in your cards by making your own? If you aren’t crafty, remember what it was like to make homemade valentines as a child. Make it a fun activity together. Exchanging your valentines can be just as fun as making them.
  10. Enjoy loved ones’ hobbies. What better way to show you care than showing interest in your partner’s hobby? If they enjoy video games, offer to play with them. Maybe they like to paint? If so, sign up for an art class together. While opposites do attract, shared interests can make you grow as a couple.

If you are still puzzled on how to spend this year’s Valentine’s Day, remember if all else fails candy should be on sale Feb. 15! What’s better than discounted chocolate and conversation hearts? We wish you all a wonderful and happy Valentine’s Day.

Don’t get bogged down by college costs

2018 College Savings Pic

Starting college is an exciting, challenging time for many young adults. With college comes new responsibilities, such as living away from home for the first time. One of the most difficult aspects of college is the expense.

Managing money as a college student can be made easier by opening a checking account. A checking account is a great tool that can help students stick to their budgets as well as keep money safe and secure. Students who will be going away to school can still choose the comfort of their hometown bank with Ohio Valley Bank’s Right Start Checking for customers ages 16-25. This account has no monthly service fee and allows five free non-OVB ATM transactions per month. In addition, Right Start Checking enables access to eDelivery statements and free online mobile banking. For students who are away at school, mobile banking is a great asset. Through this feature, students are able to deposit a check using their smartphone from the comfort of campus.

Parents should also make having a conversation about budgeting with their college-aged children a priority. By keeping the lines of communication open, college students may not feel as overwhelmed knowing they can still turn to parents for financial advice.

Creating a budget with your college student doesn’t have to be complicated. A simple budget outlining money coming in compared to projected monthly expenses is the first step. Once that has been determined, calculate an “allowance” amount, which can go toward the expense of extra activities including special events, games and concerts. Make sure to keep track of all expenditures. Take advantage of helpful budgeting tools, such as OVB’s Benjamin Tracker.

If you have a student starting college this fall, or are headed off to school yourself, we’ve put together some additional tips to help you stick to your budget:

  1. Explore campus events. It might be tempting to go out in your new college town, but with that comes added expense. Fortunately, most college campuses offer a variety of free or low-cost events to students. From concerts to dances to cook-outs, your university most likely has a schedule of campus events on tap.
  2. Seek out student discounts. You might be surprised at the amount of student discounts available. Most places that offer discounts simply need to see a copy of your student ID. If you aren’t sure where to start, visit your campus student union to see if they have a list of restaurants and businesses that offer student discounts.
  3. Sharing is caring. If you have roommates who don’t mind sharing, divvy up the items needed for your dorm/apartment to both save money and avoid having duplicates. Consider going in together for snacks, cleaning products, and other necessities. For example, splitting the cost of a coffee maker for your dorm can be a cost-saver in the long run as it will help you avoid the temptation of buying gourmet coffee every morning.
  4. Look for work study opportunities or a part-time job. If you are confident you can balance it with your classwork, a part-time job can be a great way to earn extra money while at school. If you qualify for a work study program, look into that opportunity. If not check out what part-time jobs are available on or close to campus. Even better if you can find a job that works as an internship, which could give you class credit as well as valuable experience.
  5. Purchase used textbooks if available. College textbooks can be very expensive, but are absolutely necessary. Many university book stores offer used textbooks at a much cheaper price. Also, a great way to make money is to sell your textbooks after the semester. Many campus bookstores will buy back both used and new textbooks. If you have a classmate you trust, consider going in together to purchase textbooks to share.
  6. Look for deals on computers. The start of the academic year usually brings sales on laptops and desktop computers. If you’ve already purchased your computer make sure to protect it with virus software. That may be an extra expense at first, but it will not only keep your computer secure but can save you money in the long run by avoiding repair costs. If a computer is simply out of your budget, fortunately most colleges have free computer labs on campus.
  7. Be wary of credit. Overusing credit cards is a common problem with all ages, but often first-time users are affected. If you have a credit card make sure to only use it knowing you will have the funds to make your payments on time. Avoid cards with an annual fee and look for ones with a low interest rate. Do not rely on credit for day-to-day expenses.
  8. Avoid eating out. It might be tempting to dine out with your friends, however, that can make quite a dent in your budget. If you are already paying for a school meal plan, absolutely make sure you are using it. When you want a change of pace split the cost of a pizza with roommates or plan on going out to eat only once a week if your budget allows.
  9. Cut cable. If your campus housing provides cable, great and lucky you. If not, cable is an expense that really isn’t necessary while in school. With the accessibility of streaming services you can easily survive without cable and your wallet will thank you.
  10. Look for free transportation. If you are on a large campus rather than drive everywhere wasting gas, see what type of free transportation is available. Many large campuses offer complimentary shuttle services to students. When going out with friends chip in for the cost of gas money or split the cost of a transportation service, such as Uber or Lyft.
  11. Watch application dates. Many scholarships renew as long as you fill out the necessary paperwork/application on time. Do not miss these dates as they could drastically affect the cost of your classes.
  12. Remember to save. Saving money might seem difficult when you are running a tight budget, but any amount can help you in the future. It’s a good idea to always have money tucked away in a savings account. Any amount you can save will be helpful, even if it’s the spare change you find in your car.
  13. Save on laundry expense. It’s always a great idea to do your laundry for free when you visit home on the weekends. However, if you aren’t able to do so consider purchasing a drying rack, which can help you save money by avoiding dryer expense. Keep a jar of change to use for laundry so you can avoid having to withdrawal cash from your account.
  14. Focus on school. The most important tip is to remember that classes should be your number one focus. By keeping school itself as your top priority you will be less likely to spend in other places.

Remember that college is an opportunity to grow into adulthood, and making sound financial decisions is the right step to being successful. OVB wishes all first-time and returning college students a great semester!

Stay cool with these summer savings

Summer 2018 River

Exploring local parks is a great way to enjoy summer cost-free. Pictured above is Riverfront Park in Point Pleasant, W.Va. This park is a good place to exercise as well as take in nature’s beauty. 

 

After a cold winter and hectic spring, summer is often seen as time to bask in warmer temperatures as well as relax. This summer allow yourself to embrace the season by not breaking the bank.

There are many ways to save money and still have a great summer. The first thing you can do is take advantage of the warmer weather by heading out to your community parks. Parks are typically a free place where the entire family can enjoy various activities as well as exercise together.

Many parks also host various festivals during the summer months. These events are typically low-cost or free. From concerts to children events to plays, area parks are a great place to have fun in the sun. Don’t just stop at parks, spend the summer exploring all your community has to offer. From museums, libraries, theaters, hiking trails to local restaurants and shops, discovering where you live can be an exciting and inexpensive adventure. Summer is prime time for community events, check out this post to see what our local areas have on schedule.

Other ways to enjoy the season without putting stress on your wallet include the following:

  1. Embrace the joy of a staycation. Over the years, more people are choosing to spend their vacation time at home. While travel is fun, it can be a relaxing change of pace as well as a huge money saver to use your vacation time for a week at home. Take the staycation to enjoy your hobbies or find new ones; rest and rejuvenate; catch up on your favorite books/movies; partake in local events; work on house projects; and anything else you’ve wanted to do but just haven’t had the time. Looking for more staycation ideas? We’ve got you covered here.
  2. Take turns hosting dinner parties. Rather than going out with friends host your own meals at each other’s homes. Cooking or grilling out at home is cheaper than going to a restaurant. Dust off some board games and make it a fun evening in.
  3. Participate in a progressive dinner. If you would rather not cook a full meal for everyone, you might enjoy a progressive dinner with friends and neighbors. The way this event works is each household makes a portion of the meal, as in someone hosts appetizers, while another hosts the main course, and then desserts, etc. Along with food, make the evening more enjoyable with games or movies.
  4. Watch movies at home or take advantage of theater discounts. It’s no secret that summer is popular for most blockbuster releases. Unfortunately a trip to the cinema can be quite expensive, especially for a family. From tickets to pricey snacks, repeat trips to the movies end up costing quite a bit. If you really want to see a movie when it’s released, check your local theater for discounts. Most theaters offer some type of discount day, while others may even offer additional savings with family pricing. For other summer movie enjoyment, peruse your streaming services and make it a home theater experience. Grab your microwave popcorn and settle in for an inexpensive evening of fun.
  5. Camp in your backyard. Don’t have time or money to actually go on a camping trip? You can still have a camping adventure with your family from the comfort of your own backyard. Set up a tent or bring out sleeping bags to snooze under the stars. Share campfire ghost stories, make s’mores and enjoy the fun parts of camping without the cost of travel.
  6. Plan a day trip. If you don’t have the time or money to travel far for a summer vacation, see what places you could go to and enjoy in the span of a day. From amusement parks, water parks, zoos and ball games, see what is within range of your family. As always, keep an eye out for any special discounts as well.
  7. Go on a picnic. Summer is the perfect time to enjoy a picnic with your significant other or family. All you need to do is pack a lunch, grab a blanket and you are all set!
  8. Visit or host a yard sale. Instead of spending time shopping at malls, you can save a lot of money by taking advantage of yard sales in your community. Summer tends to be a popular time for these events. If you are looking to earn some extra cash and de-clutter, host your own yard sale. Get the entire family involved as this can also be used as a learning experience to educate children on the value of a dollar.
  9. Cut cable. An easy way to save money this summer is to simply cut your cable services. Many network shows are on hiatus during the summer months. While spending more time outdoors you may find you are watching far less television this summer.

Along with spending less on activities, you can also save money this summer by making a few simple changes at home:

  1. Keep your blinds/curtains closed. In most areas summer equals hot, which also means your air conditioner works harder. Keep your curtains closed to limit the amount of sunlight entering your home and reduce your air conditioner’s workload. According to the US Department of Energy, doing this also can decrease the amount of sun generated heat in your home up to 77 percent.
  2. Fill in air gaps. Checking the sealing of your home and fill in air gaps. This will not only help you in the summer, but should also help your home stay heated this winter.
  3. Cook outside. Not only is summer the perfect time to break out your grill, but it can also be cost effective. Ovens and stoves tend to create more heat within your home, which can put additional stress on air conditioning. Grilling also eliminates the cost of running kitchen appliances.
  4. Hand wash your dishes. Handwashing dishes rather than using your dishwasher can help offset costs that may result from increased air conditioning in the summer. We know life gets busy, so if you need to use your dishwasher only do so when it’s full.
  5. Unplug appliances not in use and turn off lights when you leave a room. These small tasks can reduce energy costs, especially if you find your bills going up during the summer due to increased air conditioning.

Remember if you need help sticking with your summer budget, check out OVB’s Benjamin Tracker. Have a wonderful summer!

 

 

 

 

 

OVB enjoys 4-H fun with annual boot camp class

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4-H campers practice budgeting with candy during OVB Boot Camp.

Summer is in full swing. School is finally out, which means fun in the sun, pool parties, fairs, and of course, 4-H Camp!

As per tradition, Ohio Valley Bank once again participated in Mason County’s 4-H Camp. The bank’s class, OVB Boot Camp, took place at both older and younger 4-H camps. This year’s classes reached 27 campers.

A variety of financial topics was presented in a fun, interactive format during both camps. Campers participated in lessons and games, which included the following:

  1. Basic account types
  2. Basic bank paperwork, including check writing as well as deposits/withdrawals
  3. Interest
  4. Debit vs. Credit
  5. Budgeting

Along with each daily lesson, campers participated in a game where they had to juggle their personal mock portfolio of bank accounts. Each day they drew a Real Life Card, which either required them to pay a bill or provided them with unexpected cash. Campers also had an opportunity during this time to make deposits and withdrawals from their accounts. In addition, campers could choose to give in to temptation and spend their game money on snacks or continue to save. This year’s older camp portfolio winner was Hayley Russell, while Lyndsey Ward took top honors of the younger campers.

On the last day of both camps, all accounts were liquidated. Participants used their play money they earned throughout the week to bid on real prizes at the OVB Boot Camp auction. Prizes included a range of toys and games as well as movies, snacks and gift cards. Campers were able to take home all of the prizes they purchased.

Both older and younger camps did a wonderful job. Many older campers have taken the OVB Boot Camp class every year, while this year’s younger campers were all new to the program. The majority of campers agreed that they learned many valuable financial lessons, which will hopefully help them manage their money well as adults.

Camper Derrick Jackson, who has participated in the OVB Boot Camp Class every year since it was offered in 2006, ages out of 4-H camp this year. To celebrate Jackson’s accomplishments, OVB presented him with a $100 boot camp “buzz buck” with his face on it. The pretend currency was also signed by OVB President and CEO Tom Wiseman.

“During my time in OVB Boot Camp I have learned how to be financially stable in life. I really enjoyed my years in the class and getting to work with Bryna (Butler, OVB vice president corporate communications), Hope (Roush, OVB financial literacy leader) and Tony (Staley, OVB assistant cashier product development/business sales and support).” Jackson said. “I would like to thank everyone at OVB for putting together this class for the youth of Mason County.”

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OVB Boot Camper Derrick Jackson, who has participated in the class since 2006, was presented with a special “buzz buck” for his accomplishments over the years.

 

Many of the campers in both the older and younger classes said the budgeting lesson was their favorite activity.

“I learned about budgeting and managing money in our OVB Boot Camp class. It was a lot of fun. I especially enjoyed the auction at the end of the week. I can’t wait to take this next year,” Russell, older camp winner, said.

Camper Alex Fetty also agreed that he enjoyed learning about budgeting.

“I learned how to earn and spend money. I learned about certificate of deposit and how to deposit money into my checking account. I also learned how to write checks. I think the most important thing I learned was about a budget,” he said.

Camper Jacob Shull also found the budgeting game and lesson informative.

“In this class I learned I truly need to be cautious of my limits. Budgets though they take time to work out are worth it. Thank you OVB for doing this class,” Shull said.

Camper Brynn Roush said that the budgeting lesson made her more aware of how her parents manage their money.

“I learned about what all our parents pay for,” she said. “I learned that your parents have to make good choices about how they spend their money.”

Camper Caitlin Campbell was excited to learn valuable financial lessons as well.

“I learned about the differences between credit and debit. I learned how to budget, what a stock is, and so much more,” Campbell said. “I had a lot of fun playing the (banking) word searches and crossword puzzles because it helped me retain the knowledge about banking better. I think this class was very informative.”

Camper David Kapp said that he chose to take OVB Boot Camp during his week at older camp as he wanted to financially prepare himself for the future.

“Being that I didn’t want to fall into debt I thought that this class would help. I wasn’t disappointed as I learned much,” he added.

Camper Reece Oliver said she learned a lot during her week in OVB Boot Camp.

“This week OVB has taught me a lot about saving money. It has also taught me about using debit and credit cards correctly. We also learned about checks,” she said. She added that she loved OVB as well as getting to use her money she earned on fun prizes, including the cookies she purchased.

Camper Olivia Stanley also said that she enjoyed the boot camp auction as it was very rewarding.

“This week at OVB (Boot Camp) class I learned you can earn interest,” Stanley said. “I learned that you need to save your money and you will be rewarded.”

OVB Boot Camp was created in 2005. For more information or to schedule OVB Boot Camp, contact OVB Financial Literacy Leader Hope Roush at 740-578-3452 or e-mail hdroush@ovbc.com.

OVB celebrates Teach Children to Save Day

The key to building financially strong individuals and communities is education at a young age. Many people see financial responsibility as limited to adults, but it’s never too early to teach children how to be money savvy.

In an effort to help children understand the value of a dollar, the American Bankers Association established Teach Children to Save Day, which is being celebrated today. April also serves as Financial Literacy Month. According to the ABA, Teach Children to Save along with the foundation’s other financial education initiatives has reached 9.1 million young people through the commitment of more than 225,000 banker volunteers, including Ohio Valley Bank.

OVB celebrates Teach Children to Save the entirety of spring, and will do program presentations in the fall and winter upon request. Recently OVB took part in a Career Day at Washington Elementary in Gallipolis, Ohio. OVB Financial Literacy Leader Hope Roush discussed the different careers in banking as well as stressed the importance of saving. Along with materials provided by the ABA, OVB also uses the campaign as an opportunity to utilize the Centsables Adventures in Saving program, which is a fun, interactive lesson on saving. Topics included in the presentation focus on the following:

  1. Wants vs. needs
  2. Creating a savings plan
  3. Making deposits

Parents are encouraged to share the Teach Children to Save message as well. Both the ABA and OVB offer the following tips to help parents teach their children valuable financial skills:

  1. Set the example by being responsible yourself. This is accomplished by paying your bills on time, being a conscientious spender and an active saver. Remember children often emulate their parents’ personal finance habits.
  2. Talk openly about money with your kids. Communicate your values and experiences with money. Encourage your children to ask you questions, and be prepared to answer them.
  3. Teach them to understand the difference between needs and wants. Discuss the value of saving and budgeting as well as the consequences of not doing so.
  4. Open a savings account for your children. Take them with you to make deposits so they can learn how to be hands-on in their money management. At OVB ask about our Statement Savings account, which does not require a minimum balance for customers ages 18 and under.
  5. Tell your family and friends about your child’s savings goal. This can help your child save money with the cash they receive for special occasions, such as holidays and birthdays.
  6. Encourage kids to use Benjamin Tracker inside OVB NetTeller to keep track of savings goals. It’s a great visual to show the benefits of savings.

To schedule a Teach Children to Save presentation or for more information on OVB’s financial education programs for children and youth, contact Roush at hdroush@ovbc.com. Presentations are currently being scheduled now through December 2018.