BUSINESS: Libertyville Savings Bank sponsors financial literacy in local schools

Libertyville Savings Bank has been sponsoring financial literacy programs at four local schools for the last several years, most recently through a company called Banzai that focuses on making the tools fun to use.

Each student runs through real life scenarios where they must make budgeting decisions in order to 'win” the game.

'I think Banzai was a helpful learning tool in my intro to business class,” said Kylie Martin, a student at Fairfield High School. 'It gave examples of scenarios that could happen in real life and provided real life decisions you would have to make. It was enjoyable to use because it gave you a real perspective on real life scenarios and how you can be prepared for and handle them.”

According to LSB personnel, teachers love the Banzai program, as well. Many classes are required to provide some level of financial literacy to students and the Banzai program meets those requirements.

'Thank you so much for sponsoring us,” said Bianna Folsom, a third-grade teacher at Pence Elementary School in Fairfield. 'Our class really enjoyed the online materials as well as the activity kit. It's a great way to teach them about financial literacy. I can't wait for the rest of third-grade to do it, and for our speaker to come talk with us.”

The teachers are encouraged to request a classroom visit from someone at the bank.

'Personally, I love visiting classrooms and talking to the kids about what they have learned,” said Colby Deao of LSB. 'We visit high school business classes all the way down to kindergarten classrooms.” Financial literacy is so important.”

Elementary students are taught the basics of saving versus spending, wants versus needs and other important terminology to build on. High school students are taught money management and how to budget.

Keota High School student left a review saying, 'I learned how important it is to save and manage money. I also learned that if I just spend money on needs and save for something I want, I will have enough money for what I'm saving for.”

Deborah Matthews, introduction to business teacher at FHS, said the kids learned how a credit card work, how to save money for certain things that must be paid for, how to make wise choices when it comes to car insurance and other similar things.

'Financial literacy is so important,” said Deao, adding that Libertyville Savings Bank is passionate about financial literacy. Sponsoring programs like Banzai, giving tours, visiting classrooms and donations to important school programs are just a few of the ways LSB is working to educate the young adults who represent the future.