Now that we have ATM machines that spit out money and credit cards that seem to magically buy anything we want, it’s important to give children a picture of what is happening behind the scenes so that they develop a healthy perspective on money.

Even though it might seem unnecessary, we suggest making an actual date with your kids to learn about the bank. Even though most people don’t do most of their investing with their bank, the bank IS usually the first step for anyone starting to save money.

Creating a “special event” alerts childrens’ brains to pay attention in a different way. With younger children, going to the bank with you may be interesting enough. With an older child (even a teen), make the bank your first stop to withdraw money to buy something you would buy anyway, like school supplies, groceries for the week, new shoes, etc. (This is also a good opportunity to talk about budgets and spending choices ~ for any age.)

On your way to the bank, explain what you know about banks and why we have them, what they offer, and the services you and your family take advantage of.

Once you arrive, point out the different areas of the bank (you might visit other branches of your bank if they differ), and talk about what you will be doing on this visit. If you’re making a deposit or a withdrawal, give your child a blank slip and let him fill it out for practice. Don’t hesitate to enlist the bank representatives to add more information if it doesn’t embarrass your child too much!

And, as always, if your child has questions that you can’t answer, look them up together when you get home. (Talking to your kids about money is one of the best ways to help raise money-savvy adults.)

For older teens getting ready to go off to college or move out on their own, insist on making an actual date with your bank representative to talk about fees, interest rates, etc. You’d be surprised at the questions teens ask bankers (we know…we did this in last summer’s Moving Out! for Teens program here in Santa Barbara).

There are a lot of little facts about banking that us adults don’t even know. When your banker tells you something that you didn’t know, own up

to it by saying something like, “Wow, I didn’t even know that!” This makes your kids feel good because they weren’t the only one.

After the initial bank date, see if you can come up with other financial/money topics you can talk to your child about each time you visit your bank or financial planner. Put it this way…you can NOT talk to your children about money often enough.

Now go out there and make yourself a bank date!

*Note: Whenever you use an ATM machine, remind your child that someone puts the money in there, just like filling up the vending machines or stocking the shelves at the grocery store.