News/Accolades

Iowa high school student Hope Dohlman named 2018 Money Smart Kid

Hope Dohlman, an eleventh-grader at Crestwood High School, has won the statewide financial literacy essay contest for Money Smart Week Iowa and has been named Iowa’s 2018 Money Smart Kid. Dohlman also received $1,000 from the Iowa Bankers Association to put towards her college education.

“Knowing how natural disasters can affect your financial health and vice versa, is an important aspect of financial education, and it is exciting to see these students learn about that relationship through this essay contest,” said Lori Ristau, vice president of marketing and communications at the Iowa Bankers Association. “Iowa banks are committed to helping Iowans reach their financial goals, and providing access to financial education resources through programs like the Money Smart Week Kid essay contest is just one of the many ways banks are helping their communities. We are pleased to sponsor this fun and educational opportunity for Iowa students on behalf of our member banks.”

Approximately 45 students from across the state participated in the essay contest. To be eligible, students had to be in grades seventh through eleventh and submit a 400-word essay. The essay asked students to write a brief newspaper article describing the potential devastating effects of a natural disaster on a family’s financial situation. Students were also asked to include tips and resources for readers to help prepare them for a potential future unexpected crisis.

The top five essay finalists also participated in an interview with contest judges. From those finalists, Hope Dohlman was selected to be the 2018 Money Smart Kid.

“To be better prepared, all families should establish an emergency savings program,” Dohlman stated in her award-winning essay about a hypothetical vehicle accident during a snowstorm. “By having these emergency funds set aside, families can be better prepared to pay the unexpected medical bills and also fund a small portion of the repair or replacement of their vehicle.”

In addition to Dohlman, the top ten essay finalists were recognized and awarded money to put toward their college savings funds. Individuals receiving $500 towards their college savings include: Alexander Romig (Grimes), Brayan Silva (Postville), Caleb Kehrli (Manchester), and Kyra Troendle (Madrid). Students awarded $300 toward their college savings fund include: Emma Ehlers (Edgewood), Laura Paul (Johnston), Thea Larsson (Grinnell), Tristan Stubblefield (Marengo), and Tristan Weers (Anamosa).

More information about Money Smart Week is available at http://www.moneysmartweek.org.

Upcoming Events

Money Smart Week BIKE BASH

Join us for the 2018 Money Smart Week (MSW) BIKE BASH on Saturday, April 28, 2018, at 11 a.m. This family-friendly bike ride combines bicycling with financial literacy and offers a chance to win one of five $250 college savings plan deposit and other great prizes!

The bike ride will begin at Mullets in downtown Des Moines at 11 a.m. Participants are encouraged to arrive early to play a financial literacy game to be entered for a chance to win a college savings plan deposit. Participants can also play the game and enter to win during the packet and T-Shirt pickup (details below).

During the BIKE BASH, there will be three route options all on trails:

Penny Pinchers (Short Route): Approx. 5 miles
Savvy Spenders (Medium Route): Approx. 10-12 miles
Super Savers (Long Route): Approx. 25 miles

Route maps will be available prior to the event, at Mullets.

Packet and T-Shirt Pickup will take place on Friday, April 27 from 4 to 6 p.m. at Bike World West in West Des Moines.

The event is FREE, but registration is required. For more information, contest rules and to register, click here

Contests, Upcoming Events

Iowa Economics and Personal Finance Challenge Events

The Iowa Council on Economic Education is facilitating two state finals events – the Iowa Personal Finance Challenge on April 10 at the Federal Reserve Bank in West Des Moines, and the Iowa Economics Challenge at the Iowa State University Extension office in Altoona on April 17.

The Personal Finance Challenge will consist of student teams across Iowa creating presentations on how families can address and manage finances while facing financial adversity. A panel  of judges will determine the state champion, runner up , and third place finishers.

The Economics Challenge will consist of three multiple choice assessment rounds for advanced placement and traditional economics students. The top two teams in each division will then compete in a quiz bowl to determine the state champions.

Last year was the first year of these events in Iowa and they were a great success. This year over 2,500 students throughout our state have participated in the preliminary round and the Iowa Council on Economic Education is excited to bring students from across the state to Des Moines for these championship events.

Volunteers are needed to help judge the Personal Finance Challenge as well as administer and score the assessments in the Economics Challenge. If you are available and willing to help, please contact Bob Mantell at bob.mantell@tsinstitute.org.

Contests

Money Smart Cache!

Money Smart Cache! is now open for high school teachers to use in the classroom.

Money Smart Cache! is an online game students can play on any mobile device or computer. During the game, student maneuver Ben Franklin through 21st century financial hurdles and get him to the “portal” to answer the quiz questions correctly and help get him back to his own time period.

Money Smart Cache! addresses seven basic topics that students should understand to be financially literate – credit scores, identity theft, car loans, student loans, debit vs. credit, paychecks and budgeting.

To participate, teachers simply sign up to receive a code for their students to use. Students are able to play as many times as they wish, and teachers have access to a guidebook that provides teaching hints. To sign up, click here.

Money Smart Cache! is open the entire month of April and includes a national prize of $250 for one winning student and $250 for his/her teacher.

For more information, click here. 

Contests

Money Smart Kid essay contest deadline extended; additional awards announced

The Iowa Money Smart Kid essay contest deadline has been extended. Iowa students now have until Friday, March 23, 2018, to enter the essay contest sponsored by the Iowa Bankers Association.

Along with the extended deadline comes an increase in the number of awards offered. Five new awards have been added for contest runner-ups, so now the top ten finalists will be recognized.  Award levels now include the following:

  • $1,000 award to first-place winner (1 award)
  • $500 award to four finalist (4 awards)
  • $300 award for five runner ups (5 awards) – NEW!

Eligible students must be in grades 7-11 and can enter the contest by writing an essay addressing the following:

Please write a brief newspaper article describing the potential devastating effects of a natural disaster (fire, flood, hurricane, etc.) on a family’s financial situation. Please select only one type of natural disaster for the focus of your article. Be sure to include tips and resources for readers to help prepare them for a potential future unexpected crisis.

All essays must be 400 words or fewer and are due by March 23, 2018. Click here for the Money Smart Kid application.

Contests

Money Smart Kid Essays Due March 16

Each year, during Money Smart Week (MSW), the Iowa Bankers Association sponsors the Money Smart Kid Essay contest in partnership with the Federal Reserve Bank of Chicago. Essays for the 2018 Money Smart Kid Essay Contest are due Friday, March 16, 2018.

Students who participate in the contest are asked to answer a financial question and relate it back to their life. This year’s, students are asked to address the following:

Please write a brief newspaper article describing the potential devastating effects of a natural disaster (fire, flood, hurricane, etc.) on a family’s financial situation. Please select only one type of natural disaster for the focus of your article. Be sure to  include tips and resources for readers to help prepare them for a potential future unexpected crisis.

One student will be named this year’s Money Smart Kid and will receive $1,000 to put toward their college education. To participate, students must be in grades 7-11 and must reside the Money Smart Week Iowa or Quad City region.

To learn more about the MSW essay contest and to download the application, click here.

Financial Literacy Tools

Iowans win IRA Contributions through IPI’s 2017 Dash for the Stash Contest

In 2017, the Investor Protection Institute (IPI) and state securities agencies sponsored the DASH for the STASH contest in which an estimated 1,300 individuals participated in. DASH for the STASH is a “scavenger hunt”- like contest that teaches and then quizzes participants on investing topics such as financial fraud, building a nest egg, selecting financial advisers and the cost of investment fees. A total of 138 public libraries and other locations in eight jurisdictions participated in the contest. Participating jurisdictions included Alaska, Florida, Iowa, Kentucky, Ohio, Pennsylvania, Wyoming and the District of Columbia.

Of the 1,300 individuals who participated at host locations, 346 submitted completed responses and 171 of those responses had the correct answers. One individual, from each of the jurisdictions, who submitted all correct answers was randomly selected as a winner and received a $1,000 IRA contribution.

The DASH for the STASH contest also included an online version for the first time in 2017. The online version was open to anyone, regardless of location, and ran from April 1, 2017, to October 31, 2017. Of the 184 completed online responses, 53 were correct and seven winners were randomly selected to receive $150 IRA contributions.

Between the DASH host locations and online version, 15 winners were selected. Of those 15, two winners were from Iowa.

  • A 37 year-old male in Urbandale, Iowa won a $1,000 IRA fund contribution by participating at the Mason County Public Library. He said, “I found the DASH for the STASH fun and very informational. The posters were full of financial information and descriptions that helped me understand different options for our money to work for us.”
  • A 29 year-old female in Des Moines, Iowa won a $150 IRA fund contribution by participating in the DASH national online version and said, “DASH for the STASH was not only fun but it gave me the foundation I needed to get started with my own retirement fund!”

In addition to IPI, other organization that were involved with the 2017 DASH for the STASH included Alaska Division of Banking and Securities, the District of Columbia Department of Insurance, Securities and Banking, the Florida Office of Financial Regulation Securities Division, the Kentucky Department of Financial Institutions, the Ohio Division of Securities, the Pennsylvania Department of Banking and Securities, and the Wyoming Secretary of State’s Office.

For more information about the 2017 DASH for the STASH, click here. Information on whether the DASH will occur in 2018, has not yet been released.