Teach Children to Save 2015

It's never too early to start saving. For those of us fortunate enough to have been taught that lesson at an early age by a family member or a teacher, it can help set the stage for a lifetime of positive financial behaviors.

And, it is a lesson that has never been more important. According to research from Family Assets Count, a project of the Corporation for Enterprise Development in collaboration with Citi, nearly half (45%) of all households in major urban cities may not have the necessary savings to sustain three months at the poverty level in the event of a disruption to income, such as the loss of a job or a major medical bill occurrence. Many of these families living in "liquid asset poverty" are employed, own homes and have college educations, yet are walking a financial tightrope every day, unable to safeguard against the unexpected.

As part of Citi's commitment to enabling progress in the communities we serve, we aim to provide our nation's young people with the critical knowledge and skills they need to understand the importance of saving for the future and to begin building financial assets.

That is why for the 15^th consecutive year, Citi employees across the United States participated in "Teach Children to Save," an annual program that empowers kids to get a healthy financial start. This year, more than 450 Citi volunteers connected with over 8,000 children in schools and at events around the country to share the basics of savings and financial security. Students explored the differences between "wants" and "needs" and how to weigh the tradeoffs that might mean less gratification now, but more money in their pocket later.

Teach Children to Save also created a great opportunity for kids to fuel their own curiosity about money and personal finance, asking volunteers questions about how savings accounts work, or what kinds of avenues are best suited for saving for college. It was tremendously gratifying to watch these young savers connect the dots and understand the importance of building assets.

Giving back to our communities is very much ingrained in the Citi culture, and we are thrilled and proud to have such extensive employee participation in Teach Children to Save. Engaging with these children while teaching them the importance of financial security once again served as a truly memorable and impactful experience, and we look forward to doing it again next year. Thank you to all the volunteers for your participation!