Students Receive a Financial Education - WMC Action News 5 - Memphis, Tennessee

Students Receive a Financial Education

With arms raised and eyes wide 5th graders at Rozelle Elementary learned a lesson in financial literacy. "You need to know the difference between a need and a want."

Darius Houston says he understands the difference between things he needs, "food, clothing," and things he wants, "video games, Time Warner TV and computers."

First Tennessee teamed up with the American Banker's Association and the US Treasury Department for Tuesday's workshop targeting children who are between 9 and 12 years old. "To start with children this age is the best way to do it," says Penny Aviotti of First Tennessee.

Tweens, those children between 9 and 12 spend more than $19 billion a year accoring to researchers.

"If 5th graders can learn the basics of budgeting and managing money, it's a great thing," says Aviotti. "And that's what we want. We want everybody to have the tools to succeed in our community."

To succeed at being financially responsible and enterprising.

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