Treasury Secretary Bessent Partners with ABA Foundation to Promote “Teach Children to Save Day"

Demonstrating his strong commitment to promoting financial literacy, Treasury Secretary Scott Bessent is partnering with the ABA Foundation in support of its annual Teach Children to Save program. As part of Teach Children to Save Day on April 24, the Treasury Department released a new video message from the Secretary that will be played during Teach Children to Save presentations to K-8 students across the country. In the video, Treasury Secretary Bessent emphasized the importance of financial literacy while thanking participating students, teachers and banker volunteers for their dedication to financial education. The video will be available to all banks participating in this year's Teach Children to Save Program. 

Secretary Bessent’s video playing during a Teach Children to Save Day presentation

“Whether it’s saving for a rainy day early or educating yourself on the many tools available for you to start investing and building wealth – it’s extremely important for your future,” Bessent said in the video presentation. “And that’s why programs like Teach Children to Save are so important—they help set you on the path to financial independence. So thank you all for making financial education a priority. In partnership with the ABA Foundation, we at the Treasury Department are building stronger individuals, families, and communities—one savings lesson at a time.”

Watch the full video from Treasury Secretary Bessent. 

The annual Teach Children to Save campaign is a centerpiece of the banking industry’s longstanding commitment to youth financial education. Participating banker volunteers will deliver financial lessons to students through a combination of community events, virtual presentations, social media engagement and in-branch resources. Since last year more than 1,000 banks of all sizes and charters hosted Teach Children to Save events, reaching more than 523,065 students. These critical lessons, led by more than 23,848 banker volunteers, are a key component to the ABA Foundation’s three-year industry-wide commitment to reach five million Americans with financial education lessons through its campaigns. The ABA Foundation provides all of the Teach Children to Save resources and programing at no cost to every participating bank in the country. Banks can register for all of the ABA Foundation financial education programs including Teach Children to Save here.

“We deeply appreciate Secretary Bessent's strong support of this year's Teach Children to Save program,” said ABA President and CEO Rob Nichols. “By adding his voice to the banker-led presentations this year, students and teachers will recognize the Treasury Department's commitment to financial education. Secretary Bessent's engagement will make this year's Teach Children to Save presentations even more memorable and effective." 

Teach Children to Save Day comes on the heels of a recent Morning Consult survey that found U.S. adults strongly support youth financial education being taught in schools. Nearly nine-in-10 Americans (87%) agree that financial concepts should be taught in high school and 72% believe they would be better off financially if they had learned the basics of personal finance at an earlier age.

“We are thrilled to partner with the U.S. Treasury to support youth financial education in the classroom and beyond,” said Lindsay Torrico, executive director, ABA Foundation. “I'm grateful to Secretary Bessent for his important lesson to students at the first stage of their financial journey, and I’m proud of America’s banks for all their efforts to make financial education more accessible to children across the country.”

Lessons Focus on Fundamentals of Personal Finance

In a Teach Children to Save lesson, volunteer bank employees educate students on the fundamentals of personal finance through age-specific activities and interactive scenarios. The ABA Foundation provides registered banks with turn-key educational resources at no cost to help facilitate these lessons. This year, the Foundation has added Spanish translations for grades K-2 and redesigned lessons for grades K-5. Spanish translations for grades 3-8 are also coming soon. For grades 6-8, two out of the six new lessons are complete with the remainder expected to be done in June. The ABA Foundation also released a K-8 book list.

Additionally, ABA will mark both Teach Children to Save Day and Bring Your Child to Work Day at its offices by inviting employees’ children to join for food, hands-on activities and financial literacy lessons.

The ABA Foundation is able to provide free Teach Children to Save resources to banks across the nation thanks to financial support from the program’s national sponsors: Citi, Wells Fargo and Pathward Financial.