New Statewide Financial Literacy Program Launched

A new statewide program is designed to help parents teach kids about money.

The Vermont Money Smart Child Initiative has produced a booklet offering tips on how to teach children about managing personal finance.

There will also be parent workshops conducted around the state, which will provide exercises exploring spending choices, budgeting, credit and saving. 

The program is a partnership between the Vermont JumpStart Coalition, the State Treasurer's Office, and People's United Bank.

State Treasurer Beth Pearce says it's important that financial literacy is important as kids face the realities of getting out on their own.

(Pearce)  "The earlier that you can begin teaching the kids the fundamentals of saving for the future, working with them on allowances and how to make decisions about spending their money, the better off they're going to be in the future." 

Pearce says that while the coalition has previously worked with teachers and schools, this is the first time resources are being made available directly to parents.