LONG BRANCH — Elementary and middle school youths began investing in their futures at a financial management seminar held in Long Branch.
The Youth Savings Program training seminar, sponsored by the KJ525 Philanthropy Club, was conducted at the Gregory Elementary School. Some 11 youths, along with their parents, participated in the financial management training conducted by Michael Lanterman.
Lanterman is the manager of the Long Branch Sovereign Bank. He led the youths in a presentation of “Savings Account Basics,” starting with the importance of keeping money in a bank and continuing with how the youngsters can invest in their futures.
“Pay yourself first,” said Lanterman. “When you get money as a gift, put some of that money in a savings account before you spend any of it.
“By doing this, you save money towards your goals,” he said, adding, “You have money to buy things you want. You have money for emergencies and you learn to manage money better.”
Lanterman explained to the youth how to open a savings account, make deposits, read a bank statement, deposit and withdraw money from the account. Each of the youths, with the help of their parents, completed applications for opening a savings account.
Jerome Hamlin, president of KJ525 Philanthropy Club, said, “The club will make an initial deposit of $50 into each account.
“You are already on the road to investing in your futures,” he said. “We will continue to mentor and meet with you on a regular basis.”
In the near future, the students will tour the bank and get inside the vault. For more information about the club, call 732-222- 6163.