Teens and young adults are experiencing the burdens of managing debt. According to a survey from Rent.com, more than 3/4 of renters between the ages of 18 and 24 spend more than they earn every month. More than 20% overspent their income by more than $100. Programs such as the one put out by The American Bankers Association can help these young people learn the tools they need about debt, credit and savings. the Get Smart About Credit program put on by the American Bankers Association runs throughout the month of October and is celebrated on Oct. 17, and their Lights, Camera, Save! video contest kicks off Nov. 1 and runs through Nov. 30.
“Our financial education programs give bankers the framework and tools to engage students of all ages,” said ABA President and CEO Frank Keating. “These fall programs continue to challenge young minds across the nation to think critically about their financial goals and expectations.”
Now in its 11th year, the Get Smart About Credit program is a national campaign of volunteer bankers who help teens and young adults learn the “how to’s” of credit. As part of its commitment to the Clinton Global Initiative, ABA added a component this year to help banks engage students on financing their higher education. The program’s other two elements are how to use credit wisely, and protecting your identity. On GSAC Day, ABA will also host its first Get Smart About Credit Twitter Chat on Oct. 17 from 3:00 p.m. – 5 p.m. EST. The hashtag to follow the conversation is #GetSmartChat.
Through ABA’s Lights, Camera, Save! video contest, teens create short YouTube videos to communicate the value of saving and using money wisely. Banks will host competitions and will select a winner to represent their bank branch on the national level for a grand prize of $5,000. [View last year’s winning videos]
For both programs, ABA will host free informational webinars, and provide registered bankers with real-time customer support and program materials. Registration is required for both webinars, which feature live question and answer portions. The GSAC webinar will be held on Sept. 10, click here to sign up. To sign up for the Lights, Camera, Save! webinar set for Sept. 12, click here.
Bankers interested in participating in any of ABA’s programs can sign up online at http://www.aba.com/Engagement/. Registered banks will be featured in a list on the ABA website.
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $14 trillion banking industry and its two million employees. Learn more at aba.com.