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The spring edition of Money Smart News, a financial literacy resource provided by the FDIC, features two youth-focused initiatives and resources. The first, Money Smart for Young People, is a new set of educational materials for teachers, parents, and caregivers that can be used to educate children on how to manage their money. The second, Youth Savings Pilot Program, promotes access to financial services for young people by connecting financial education in schools with the opportunity to open bank accounts and begin saving money. “By engaging young people and their parents in discussions about key financial concepts and choices, we hope to enhance their financial capability and improve the likelihood that children and families will participate in the mainstream financial system,” said Mark Pearce, director at the FDIC. “In addition to the benefits of safety and security, the FDIC believes that an account with an insured depository institution can be a stepping stone to economic opportunity.”
Click here to access the financial literacy resources available in the spring edition of Money Smart News.
The state-wide financial literacy competition was a free online financial literacy program that tested students’ knowledge about income and money management, spending and credit, and savings and investing.
Participating schools included Treynor, Madrid Junior and Senior High School, Tri-Center High School, Essex Junior and Senior High, MOC-FV High School, River Valley, Sioux Center High School, and Creston Middle School.
MOC-FV High School took the overall winning title, qualifying them for nationals. However, the winning teams from MOC-FV were unable to attend nationals due to graduation and state track. The next highest scoring team was from River Valley. Teacher Teena Dreckman attended the national competition in Kansas City with her students: Katie Reinking, Paige Korver, and Emily Hoy.
The challenge was sponsored by the Iowa Jump$tart Coalition and Wells Fargo.
Region one high school division:
- First place: Maria Cuevas, Aricson Knoblock, and Monica Nicholson of MOC-FV High School
- Second place: Sarah Schwarz, Kyle Van Der Stoep, and Cara Venema of MOC-FV High School
Region three high school division:
- First place: Sammy Anderson, Erin Bolte, and Brian Tessmer of Tri-Center High School
- Second place: Grace Lisle, Hannah Pettit, Jesse Pursell, and Shelbie Weihs of Tri-Center High School
Region one middle school division:
- First place: Skylar Mesner, Adrian Meza, and Ariaqna Meza of River Valley
- Second place: Jacob Henderson, Kera Johnson, Hailey Joy, and Ashton Lichtenburg of River Valley
Region three middle school division:
- First place: Brendan Mass, Amanda Kern, Alora Nowlin, and Brett Phelps of Treynor
- Second place: Megan Carley, Maria Carolus, Kyle Christensen, and Dane Dunbar of Treynor
Ten Iowa Schools Receive $1,000 Award for Project Financial Literacy Participation Sponsored by the Iowa Bankers Association
Ten Iowa schools have been selected to receive a $1,000 award from the Iowa Bankers Association and its member banks and for participating in Project Financial Literacy. Project Financial Literacy is a program designed to promote financial literacy education by providing high schools with resources to measure and improve their financial literacy curriculum.
The awards and winning schools included:
- Highest Scoring School Award: ADM Senior High School, Adel (Sponsored by Raccoon Valley Bank)
- Most Improved School Award: Postville High School, Postville
- Highest Number of Participating Students Award: Southeast Polk High School, Pleasant Hill
- Highest Percentage of Participating Students Award: Marquette Catholic School, Bellevue (Sponsored by Bellevue State Bank)
- Northwest Regional Participation Award: Spirit Lake Highs School, Spirit Lake
- Northeast Regional Participation Award: Jesup High School, Jesup
- Central Regional Participation Award: Ballard Community Senior High School, Huxley
- East Regional Participation Award: Regina Jr Sr High School, Iowa City (Sponsored by MidWestOne Bank)
- Southwest Regional Participation Award: Tri-Center High School, Neola
- Southeast Regional Participation Award: Pella High School
All Iowa schools who participated in this program by Feb. 13 were eligible for one of 10 awards. Nearly 50 Iowa schools participated in the program this year, reaching more than 1,800 students.
“Financial literacy education is so critical to these students’ future success, and to the economic success of our communities. All of the participating schools are to be commended for their work in promoting financial education with their participation in this program,” said Lori Ristau, vice president of marketing and communications for the Iowa Bankers Association. “This program also aligns perfectly with the core values of Iowa banks. Iowa banks are not only a resource for financial products and services, but also a resource for financial expertise and advice. Financial literacy is at the heart of what Iowa banks do.”
The winning schools can use the $1,000 award can be used to invest in their financial literacy programs or for providing scholarships to students.
Schools interested in participating in Project Financial Literacy next year can visit www.projectfl.org to learn more.
Government-backed Money Advice Service (MAS) pointed to a Cambridge University study that suggested that most young children had grasped all the main aspects of how money works and formed “core behaviors which they will take into adulthood and which will affect financial decisions they make during the rest of their lives”.
Caroline Rookes, chief executive of the Money Advice Service, said: “This study really demonstrates the power of parental influences, and illustrates how much of what you learn and absorb when you are young, both consciously and subconsciously, affects the choices you make throughout the rest of your life.”
View the rest of the article here: Money habits are formed by the age of seven – News Article
What a great conference we had in July! We learned so much and got to meet so many neat individuals! If you missed the conference or if you would like to revisit it, please go to our conference page and check out all the cool downloads you can get. Thank you to all the speakers and attendants that came to our conference!
Congratulations to 4 Treynor High School students who won the 2013 Iowa Financial Literacy Program Video Clip Challenge! Students involved were Logan Huff (Sr.), Wesley Masterson (Sr.), John Beckman (Sr.), and Taylor Anderson (Fr.).
Their video compares the financial behavior of two high school students. One student is making good financial decisions while the other makes poor decisions. Watch this fun video on YouTube at http://youtu.be/oJA60WcGI9s.
On April 15, 2013 Lt. Gov. Kim Reynolds announced the launch of a new online financial literacy program, offered through the Iowa College Student Aid Commission (Iowa College Aid). The interactive program, Vault™, will help Iowa 4th through 6th graders establish smart habits and attitudes about handling money. The program is available free to Iowa elementary and middle schools.
Read the entire Press Release: Statewide Program will Help Students Develop Smart Money Habits on Lt. Gov. Kim Reynolds web site.
Get a sneak peak at what Vault offers. View the Vault Demo on YouTube.