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Baylake Bank Provides Financial Tips for a Lifetime

April 18, 2011 --  Bankers see it all too often: consumers make financial blunders that have costly, long-lasting impacts on their credit; families struggle to avoid debt; business owners go bankrupt. But these financial struggles can be avoided with skills that can be learned at any age.

April is Financial Literacy for Youth Month, but it’s important for everyone – adults and children alike – to be informed about making good financial decisions, including how to recognize and avoid bad ones. While you’re never too old to learn how to master your money, it’s definitely a lot easier to learn those lessons at a young age than it is when you’re older and up to your ears in debt.

Wisconsin’s bankers have been visiting students of all grade levels for decades, talking to classrooms full of children about the basics of saving money, how to balance a checkbook, the pros and cons of credit cards, and responsible spending habits, to name just a few topics.

Here are some tips from Baylake Bank and the Wisconsin Bankers Association about how you can teach your kids to save:

• Be a financial role model and make responsible saving and spending decisions.

• Discuss money and financial choices with your kids.

• Set spending limits and stick to them.

• Allow your children to manage some of their own money and learn the consequences of their financial decisions while they’re young.

• Teach children to divide their money and always set aside a percentage in savings.

Baylake Bank serves Wisconsin communities from financial centers in Brown, Door, Green Lake, Kewaunee, Manitowoc, Outagamie, Waupaca, and Waushara counties and from its website at www.baylake.com. For more information call (920) 743-5551 or 1-800-267-3610.