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BANK ACTIVITIES AIM TO HELP KIDS SAVE; CITIBANK OFFERING KIDS' WEEK FUN, WITH TOURS, AND PROFIT, WITH $10 TO OPEN ACCOUNT.

Byline: Sharon Cotal Staff Writer

This is Kids' Week at the Santa Clarita branch of Citibank, 19100 W. Soledad Road in Canyon Country.

Throughout the week, the bank will have activities designed to teach kids how to save their money and be financially responsible. Plus, children who open savings accounts during December will receive $10 to jump-start their savings.

It's never too early to start learning how to manage money, branch manager Martin Boghosian said.

``Citibank has done research and found that a lot of people have no training in handling their money. This event is to teach kids at an early age how to budget their finances,'' Boghosian said. ``We want to educate kids and help them to plan for the future. This is something that isn't taught in the schools, but it's something that people need to know.''

From 1 to 3 p.m. Saturday, kids can take a behind-the-scenes look at how the bank operates by taking a tour that includes going behind an ATM machine to see how it works, looking at the teller stations and visiting the bank vault.

``Kids really like to see the vault - they get really excited,'' Boghosian said.

In addition to the tours, refreshments will be provided and there will be storytelling to educate young children on the importance of spending their money wisely.

``Through the stories, kids learn the difference between what they want and what they really need,'' Boghosian said. ``So instead of spending all their money on Pokemon cards, they might decide to put some money aside so that it will be there when they really need it.''

By the age of 5 to 7, kids form habits that will make them either spenders or savers. If kids learn how to manage money at an early age, then later in life they will have some financial responsibility and be more successful, Boghosian said.

Children visiting Citibank for Kids' Week must be accompanied by a parent or guardian, and parents should bring the child's Social Security number to open an account.
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Daily News (Los Angeles, CA)
Date:Dec 7, 1999
Words:342
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