Winter Olympic athletes share their take on avoiding ‘snowballing debt’

Zions Bank CEO Paul Burdiss brought along U.S. Ski & Snowboard Team athletes Andrew Haraghey and Landon Wendler on Friday as they visited West High School to teach them about avoiding credit card debt.

The event was part of National Get Smart About Credit Day and the speakers shared their experiences with a business class at the Salt Lake City high school.

“In skiing, you have to stay balanced and think a few turns ahead, and it’s the same with money. If you let things slide, whether it’s on the mountain or with your credit, you can lose control fast.”

—  U.S. Para Alpine Ski Team member Andrew Haraghey

“Everyone deals with banks and financial things all the time,” Burdiss said. “And this is just trying to get people to start thinking about, ‘How do I think about credit? How do I think about credit cards? What’s right and what’s wrong?’”

The three speakers answered questions from the students about finances and credit and led them through a variety of interactive activities.

Haraghey and Wendler also connected the principles of good financial discipline to principles they practice while skiing.

Some of the principles included having discipline, taking calculated risks and planning ahead to be prepared for the future. Haraghey, who is part of the U.S. Para Alpine Ski Team, also works part time at Zions Bank as a bank teller. Wendler is on the U.S. Freestyle Ski Team and competes in moguls.

“In skiing, you have to stay balanced and think a few turns ahead, and it’s the same with money,” Haraghey said. “If you let things slide, whether it’s on the mountain or with your credit, you can lose control fast. Learning financial discipline early gives you the confidence to navigate whatever’s ahead.”

This class at West High is just one of many classes at schools across Utah and Idaho that will be visited by Zions Bank employees over the next month to teach teens how to use credit wisely.

“Obviously, as a bank, we have a lot of expertise on this, so it’s really important for us to reach out to the community and help people to understand the opportunities and the risks that are attached to banking,” Burdiss said.

Most of the time in class was taken up by the students asking Burdiss a variety of questions about credit and specifically how credit cards work.

According to Zions Bank, credit card balances hit a record $1.21 trillion during the second quarter of 2025. Because of economic factors such as persistent inflation and high interest rates, it’s important that young people learn about credit.

“It’s important for these students to understand that the choices they make when using their first credit card or handling their first loan can impact their lives for years to come,” Burdiss said. “If they can learn to start practicing financial discipline now, they will be much better off as they graduate to adulthood.”

One of the interactive activities that the students participated in involved one boy role-playing as a student spending money throughout the week without a set plan or budget. He ended up going over his budget very quickly, helping students understand why they need financial discipline.

The other activity, called how to avoid snowballing debt, helped to show how quickly credit card debt can grow if it isn’t paid off all at once because of compounding interest.

One other thing that was highlighted is that everyone should have a savings account set up as a cushion so that they don’t have to rely on credit.

Zions Bank also gave a list of tips for parents to help their kids find their financial footing:

• Look over your child’s paystub and help them understand taxes and withholdings, and gross pay versus take-home pay.
• If your teen isn’t currently employed, find ways for them to take part in family budgeting and financial decisions. 
• Encourage your teen to open a bank account and set aside some savings each month.
• Model healthy financial behavior. Studies show that kids tend to mimic their parents’ spending and savings habits.