GREENWOOD VILLAGE, COLO. – Evan Smith-Acuna has joined First American State Bank as vice-president. In his new role, Smith-Acuna will be primarily responsible for lending.

“We are excited to have Evan join our team,” said Michelle Gruber, vice president of First American State Bank. “His banking background will ensure our customers continue to experience the first-class service they have come to expect.”

Smith-Acuna previously worked at First Bank where he began as a banking officer responsible for relationship management for lending of all kinds. He also managed First Bank’s Multicultural Banking Center for the Eastern Region. He then was promoted to vice president where he supported the build-out of the bank’s Commercial Banking Division.

Smith-Acuna graduated with a degree in business administration – finance and a minor in real estate from the Daniels College of Business at the University of Denver. He also serves as an officer with Colorado Latino Leadership, Advocacy and Research Organization.

Investing is a powerful financial tool that everyone should understand. The sooner you start teaching your kids the basics, the better! Help your children understand that the goal is to buy when things are inexpensive and sell when they’re worth more. Investing is often done by buying stocks (very small parts of a company). Stocks are worth more when the company is doing well and less when the company is struggling. Since you own part of the company, you may also get payments/dividends when that company earns a lot of money. As the child gets older, you can touch on more complex aspects of investing.

Track the Stock Market: Have your child pick a few brands they like such as their favorite clothing company, cereal, sports equipment, soft drink, or gaming company. Once they’ve picked two or three, go to the company websites or a general financial site and show them how to track the stocks. You can also point out news articles about the company and have them predict how that will affect their stocks. For example, if a sports drink company decides to stop producing a popular flavor, you can discuss how that may lead to a drop in their stocks. Track how the stocks change to see if your child’s guesses were right or wrong.

Start Investing: Get your child actively involved in investing by “selling” some of your shares to them. For example, if you’re planning to buy 200 shares of a particular company and you have two children, buy 202. Sell the extra shares to each child either at the price you paid or a discounted price if it’s too high. You can keep track of the children’s shares in a separate register so they can follow what happens and earn some money if the stocks do well. (Be willing to buy the shares back if they prove disappointing.)

The sooner you start teaching your kids about investing, the better! Who knows, you may be raising the next Warren Buffet or Suze Orman!

Teaching your children about saving money can equip them with core financial knowledge that will serve them well throughout their lives. In order to help the lessons stick, you can aid them in understanding that the secret to getting the things they want is in saving up for them while demonstrating how saving with a purpose is important.

Here are some activities to help teach kids saving basics from our partners at Banzai! https://banzai.org

Create a Savings Goal: Help your child set a saving goal. Children’s goals vary a ton based on their age, but might include toys, sports equipment, electronic devices, special clothes, or other big-ticket items. Let them discover for themselves that not all goals are worth the time and effort it takes to reach them. Once they’ve set a goal, create a clear way for them to track their progress. The more visible, the better. For example, a jar in the living room or a paper chain that you cut pieces off of for each milestone. This will remind them of their goal and give you both the chance to celebrate progress.

Open a Savings Account: Take a trip to First American State Bank and help your child open their first savings account. You can even ask one of our experts to explain how interest works and why it’s wise to store your money in an account. Encourage your child to ask other questions about how financial institutions in general work. You may even choose to contribute a little to help get their fund started. But remember, the child needs to learn how important it is to regularly add money to the account. Interest won’t be enough on its own to reach their goals.

Teaching young children the basics of spending can be incredibly important to help them understand that the things we buy cost money and that money isn’t endless. Instead of simply buying everything they want, they need to plan ahead to determine if they can afford what they want.

Here are some activities to help teach kids spending basics from our partners at Banzai https://banzai.org

Spending Simulation: For younger kids, you can simulate the experience of spending to teach them about tradeoffs. Give your child some money (maybe $5) and set up a small, at-home store. The store could include one item that will cost the whole $5, a few between $2 and $3, and multiple small things for $1 or less. These items can be small toys, treats, or even “coupons” for extra time playing games or a movie night. The point isn’t what they’re buying, but that the child recognizes that they can’t get everything—they’ll have to prioritize what they want most. Repeat the store every so often, perhaps with money they earn instead, to see how their understanding grows. Perhaps you agree on a reward when certain milestones are met.

Expense Tracking: For older kids, help them track all of their spending for a week or month. They can do it on a piece of paper, a spreadsheet, or even an app. At the end of the tracking period, have them evaluate all of their choices. Did they spend more than they expected? Less? What would they like to change? Help them create a target for the next period and suggest ways they can improve. Repeat the process to see what changes.