Financial Literacy: Investing in Our Future

July 24, 2025

by contributed content

Financial literacy has emerged as a critical issue in schools and government discussions nationwide, and for good reasons. The statistics on financial literacy across all age groups are sobering, highlighting significant gaps that need to be addressed. Panhandle First Bank (PFB) has been seeking comprehensive ways to bridge these gaps in our community.

Professor Fin Bank: Making Financial Education Fun
PFB has launched an innovative program featuring their resident mascot, Professor Fin Bank, who visits schools from PreK through 6th grade to teach basic financial literacy and help children develop money-smart habits. Professor Fin can deliver lessons in classrooms or larger venues like gymnasiums and auditoriums, adapting to each school's needs.
The interactive lessons include a science experiment, discussions about needs versus wants, and budgeting exercises for older students (3rd-6th grades). The central goal is to help all students become money smart by following Professor Fin's formula: 60% for needs, 30% for savings, and 10% for wants. While this sounds simple, it becomes challenging when faced with tempting purchases.

Professor Fin poses two essential questions to students: "Why save?" and "Why be money smart?" Most students initially understand that we save for things we want, but with gentle guidance, they discover that saving also prepares us for unexpected expenses and emergencies. He emphasizes that being money smart benefits not just the individual, but their family, community, and society.

The Benefits of Financial Literacy
When you are financially literate or money smart, you gain several advantages:

A healthy relationship with money

Awareness of all financial aspects of your life

Commitment to continuous financial education

Greater future security

Reduced vulnerability to fraud

Better ability to support your life goals

How Families Can Help
Teaching financial literacy at home is crucial because money-smart children become money-smart adults. Here are practical strategies families can implement:

Start Early with Money Tracking: Help children track their spending, saving, investing, and charitable giving from a young age.

Make Shopping Educational: Compare prices while shopping, noting savings opportunities and discussing how small savings add up over time. This also provides excellent math practice.

Maintain Positive Money Conversations: Be transparent about what you can and cannot afford. Explain why it's important to prioritize needs over wants and share your decision-making process.

Demonstrate Financial Management: Show children how you pay bills, use online banking, write checks, transfer money, and manage cash. Physical cash helps children better understand the real cost of purchases.

Open a Bank Account Together: Gift children their own account and help them open it at the bank. Learning to navigate financial institutions and technology will serve them throughout life.

Set Achievable Saving Goals: Start with small, purpose-driven goals with clear timeframes. Help children understand that delayed gratification leads to better outcomes.

Tools and Resources

Panhandle First Bank offers the Learn & Earn App, designed to help children begin their financial journey. This platform allows parents to teach their kids to earn, manage, donate, spend, and invest real money while maintaining appropriate oversight. Parents can monitor their child's financial decisions, set limits, and contribute to their success by establishing healthy financial parameters.

Community Education
Panhandle First Bank also provides financial literacy presentations for all ages, covering topics such as fraud prevention, senior fraud and scams, understanding credit, and budgeting. PFB is committed to addressing any financial literacy needs in our communities.

If you're interested in scheduling Professor Fin, a presentation, or learning more about our financial literacy programs, please call us at 580-338-2593. We're dedicated to helping our communities become money smart. By working together to teach financial literacy to those who need it, we can significantly improve our collective financial future.

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