Mary’s Story
Mary and her husband know the importance of financial planning and education. They have made it a priority to teach their 9 year old son Charles about money and how to save. “He always knows exactly how much money he has”, says Mary. Currently in fourth grade, Charles is an ambitious honor role student. His dream is to become a doctor. Mary knows Charles is very intelligent and has the ability to achieve his dream. She also knows that this will come with a price tag; and the family needs to start planning for Charles’ future. “I think a children’s savings account would really help him”, said Mary.
As the owner of a small childcare business, Mary has taken financial education classes, which taught her the benefits of money management. She feels that financial education is not only beneficial to adults but can also benefit children. Mary is looking to start a group that would teach children in her son’s age-range about money and the importance of saving.
IABG aims to promote children’s savings accounts that are created at birth, seeded with an initial deposit and paired with financial education. “This is exactly what we need”, said Mary, “I try to teach all the children I work with that they can be whatever they want to be”. Mary believes that CSAs will help to break down barriers and ensure that Illinois children build a brighter future.