Schuylerville High School seniors are learning how to plan for their futures from a member of Adirondack Trust Company’s senior management team. Vice President and Investment Officer John Conroe spoke to students in Sarah Flowers’ and Heath Morris’ economics classes about the importance of financial literacy.
“We all need to understand money because if we don’t understand it, we’re kind of at its mercy,” Conroe said.
Conroe walked students through creating a monthly budget, spoke about student loans, and explained low risk vs. high risk investments.
“One thing you all have right now is time,” Conroe told students. “You’re young and if you begin planning, saving and investing now, it will pay off when you’re my age.”
Students have been using EverFi, an online educational experience in economics sponsored by Adirondack Trust, to learn about topics such as savings, banking, credit cards and interest rates. Students had some great questions for Conroe, including asking the difference between a 401(k), a traditional IRA, and a Roth IRA.
“Our bank as a whole feels financial literacy is one of the most important things,” Conroe said. “We use money every single day of our lives. We don’t use everything else that way. That’s why it’s important for young people to understand how it works.”