Michelle Thornhill is the Senior Vice President and African American Segment Manager at Wells Fargo/Wachovia. Michelle has over 15 years of experience developing consumer initiatives for diverse audiences in the financial services and non-profit sector. Michelle earned a Bachelor of Science from Virgina Polytechnic Institute and State University, a Master of Science in Administration from Central Michigan University and a Master of Public Administration from Harvard University, the John F. Kennedy School of Government. Michelle resides in Charlotte, N.C. with her husband and two sons.

Michelle Thornhill will provide personal finance tips to get you and your family on the right track when it comes to money management. This financial tip is sponsored by Wells Fargo.  Here’s Michelle Thornhill.

This financial tip is sponsored by Wells Fargo.  Here’s Michelle Thornhill.

Increase your child’s financial education by teaching them about savings and budgeting.  For young children, one way to encourage saving would be to give them their allowance in small bills.  If they earn $5 per week, encourage them to save $1.  Or, use the things that they want, such as new clothes or toys, as an incentive.  Let them participate in saving up for it and use an earnings chart to track their progress, making it more fun and engaging.    Bringing your kids into the bank and helping them open their own savings accounts is another great way to keep them engaged.  Wells Fargo offers a savings club program designed to reward children ages 5 through 12.

For more financial tips and information, visit www.handsonbanking.org

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