Fifth grader Caleb Kitterman from Norwalk, Iowa, has been learning about finances from a young age- and in a very interesting way. Rather than having a weekly allowance, Kitterman earns his own money from a gumball machine he purchased with a $40 loan.
“I just knew that I wanted him to learn about money in a different way,” said Kitterman’s dad, Daron in a report with WHOtv.
Kitterman has not only used the money earned from the gumball machine to pay off the loan, but also to save. He has gained both a profit and financial knowledge that will help him in the future.
From this experience Kitterman has learned a great deal and hopes to share his knowledge with others his age. With the help of his dad, he wrote and illustrated the book “Caleb’s Gumball Machine,” which will be published this December.
Once the book is published, the Kitterman’s hope to distribute copies to elementary school libraries across Iowa.
Click here to read more about “Caleb’s Gumball Machine.”
Learn how youth employment can play a critical role in the financial success of many young individuals by joining America Saves for Young Workers’ (ASYW) webcast, “Youth Employment Programs as Pathways to Savings.” The webcast is scheduled for tomorrow, Wednesday, November 2 from 1-3 p.m.
This webcast will help you understand how youth learn to save when provided appropriate products, services and mechanisms. The presentation will include panel discussions on innovative programs, financial institutions providing unique products and services, and research findings on past ASYW program participants.
For more information on how to register, click here.
According to a recent poll from the National Retail Federation, people will spend $8.4 billion on Halloween this year. If you do the math, that is an average of $82.93 per shopper. It is also said that most of this money will be spent on costumes.
That’s a lot of money for an outfit you will most likely never wear again, so why waste it? There are ways to still look great this Halloween without breaking the bank. In fact, America Saves has come up with a list of their 15 favorite homemade costume ideas. The best news yet, all these costumes can be made on any budget.
Check out these great costume ideas and save your money for another time. Halloween is fun when you look great, but it’s even better when you save money too!
We would like to recognize in Kuster Ltd. in our current Member Spotlight. Since 1980 Kuster Ltd. has been developing educational products, content and programs for a variety of organizations and businesses as well as a marketing communications company and custom publishing company called DynaMinds. (www.dynamindspublishing.com).
Kuster Ltd. is represented on the board by Joanne Kuster. Joanne and her husband Chuck created the “A.G.G.I.E.” board game, a really, really fun lesson on the profits and perils of farming. AGGIE games quickly spread to every state and 13 countries, as teachers, bankers and families ordered to learn how to buy and sell commodities. Meanwhile, Joanne wrote her first children’s book and subsequently sold it to a Fortune 500 firm that distributed more than 500,000 copies. Who knew? Those initial products led to myriad creations developed for businesses and organizations across the U.S. and Canada – Stock Market Pie: Grandma Helps Emily Make a Million, an investing journal, and Entrepreneur Extraordinaire: Grandpa Helps Emily Build a Business.
The “Money Godmother” is a Jump$tart superstar. Joanne attended her first JumpStart meeting sometime in 2000 and has since served in several capacities. While president in 2006, she connected with the Federal Reserve Bank of Chicago and convinced them Iowa was poised to handle Money Smart Week. She has since helped the program grow across the state. Her passion for financial education has led Joanne to create several children’s books and games on money, investing, and entrepreneurship, including the popular “Wants and Needs” game and the “Balloony Game”. She is an author of such books as Stock Market Pie: Grandma Helps Emily Make a Million, an investing journal, and Entrepreneur Extraordinaire: Grandpa Helps Emily Build a Business. She is a dynamic orator, speaking to audiences of college students, teachers, parents and other mentors who want ideas on how to better manage money and help others do the same.
Joanne also works as chair for Money Smart Week Iowa, an economic outreach program from the Federal Reserve Bank of Chicago and is involved with the Iowa JumpStart Coalition. Check www.moneysmartweek.org/iowa and www.WomenandMoneyConference.com. She continues to help other entrepreneurs get started, and often speaks on entrepreneurship, saving and investing, and leaving a family legacy. She is a founding member of the Iowa Enterprise Network and Center for Financial Success, and has been recognized as SBA’s Midwest Home-Based Business Advocate of the Year.
The countdown has begun; less than a week until Halloween! But, before you rush out and buy the expensive candy to hand out, the National Financial Educators Council (NFEC) encourages you to substitute cash for candy.
Sounds a bit crazy, right? Well, maybe not. Kids get excited about candy, but they get more pumped up for cash.
By substituting cash for candy, you have the opportunity to teach kids about personal finance and encourage a healthy lifestyle. Health and financial wellness, although seemingly very different, are directly related. On average, healthier people earn more money, pay less in medical expenses and live longer.
Visit the NFEC’s website for more information and ideas on promoting financial literacy and the wellness of kids this Halloween.
The 2016 Get Smart About Credit Day, sponsored by the American Bankers Association (ABA) Community Engagement Foundation, will be held on Thursday, Oct. 20. The Get Smart About Credit program is a national campaign run by volunteer bankers. The campaign focuses on raising awareness about the importance of using credit wisely – especially for young people.
Many resources are available to registered banks through the Get Smart About Credit campaign. These free webinars, presentations and communication materials can be used to help educate high school students and young adults.
To learn more about the Get Smart About Credit campaign, click here or contact your local bank to see if they are registered.
Our spotlight light Jump$tart member for July is Wells Fargo, represented by a very active member Erin Gjerde, Wells Fargo is The Des Moines Metro’s largest private employer with over 14,000 people working on their several Des Moines Area campuses. Wells Fargo is the third largest Financial institution in the US. Wells Fargo’s headquarters are located in San Francisco.
It is totally appropriate to greet Erin Gjerde with “Aloha!” She and her husband own a farm in Hawaii. Erin places high value on education, she was born and raised in Amery, Wisconsin by 2 teachers. Her mother taught 8th grade English and her father taught high school art. She has two brothers, one of which is also a teacher.
Erin attended Concordia College in Moorhead, MN and graduated in 1988. From there she began working in higher education at the University of St. Thomas Financial Aid office. In 1996, Norwest Bank needed a student loan manager for Iowa and Missouri, so she moved down to Des Moines to begin her career with Norwest, now Wells Fargo. Next month she will celebrate 20 years with the company.
Erin is married and has a grown stepson and stepdaughter. Her husband is a retired marine and has owned Bailey Roofing Contractors for 27 years. Her step son lives here in Des Moines and her stepdaughter lives in Oregon and is married with a daughter Claire and a son Reece. She is looking forward to taking them (they are 8 and 10) to the Iowa State Fair when they visit in August.
Erin and her husband live outside of Norwalk on 25 acres and have a rescue dog named Crystal.
As mentioned, In 2011, they purchased a 6 acre coffee and avocado farm in Kona, Hawaii. Her husband was stationed in Hawaii when he was in the marines and lived there after he got out for many years. Their farm is at about 1000 feet and a 5 minute drive from the shore. They have also added other fruits and crops to our farm such as papaya, mangos, white pineapples, tangelos, Tahitian limes, apple bananas and macadamia nuts. As you can imagine they absolutely love going there!
In her spare time she likes to garden, read, sing, golf, run and arrange flowers. She has run 5 half marathons, one was with my stepdaughter at the Princess Disney World half marathon – they wore Tutu’s and tiaras! She also had the honor to sing with a choir and orchestra at the 10th Anniversary of 9/11 at the Lincoln Center in New York City she loves to travel and has visited 44 states.
Two upcoming informational sessions can help you learn how Money Smart for Young People is an easy way to teach about money!
On Wednesday,August 3 and Thursday,August 4, 2016, at 3:00 p.m. to 4:00 p.m. ET, join the Federal Deposit Insurance Corporation (FDIC) and the Jump$tart Coalition for two webinars that introduce free tools for teaching key lessons about money to children from Pre-K to Grade 12. The webinars will discuss the Money Smart for Young People curriculum series and offer ideas on how to use it. Each session also will feature insights from those who have used Money Smart and an opportunity to interact with speakers.
The same information will be presented on both days so you can pick the time that works best for you.
Iowa Jump$tart President Mary Sandvig welcomes attendees to the Educators Conference.
Approximately 90 Iowa teachers and business professionals attended Iowa Jump$tart’s annual Conference for Financial Literacy June 22 at DMACC’s FFA Enrichment Center in Ankeny. The conference, titled “Financial Literacy Starts with You,” provided teachers with a wealth of resources and tools to take back to the classroom for their financial literacy educational programs.
Welcome
Iowa Jump$tart President Mary Sandvig (Iowa Division of Banking) welcomed conference attendees, noting that this year marked the 16th anniversary of the conference. She reflected on what financial responsibility was like at the age of 16, and how everyone has a responsibility to take care of their financial literacy. “Thank you for coming to day to take information bank to your classrooms to make a difference,” said Sandvig.
Morgan Fannon reads her winning 2016 Money Smart Kid essay.
Money Smart Week Essay Contest Winner
Sandvig also provided an updated on Money Smart Week, a financial literacy effort sponsored by Iowa Jump$tart that takes place each April. This year, Sandvig reported, Money Smart Week events across the state reached over 20,000 people. One of those events is the annual Money Smart Week essay contest, sponsored by the Iowa Bankers Association. She also introduced the 2016 Money Smart Kid Essay contest winner, Morgan Fannon of Edgewood-Colesburg Senior High School, and her teacher Jodi Ehlers.
Ehlers encouraged attendees to work with local bankers to identify free financial literacy resources. “If you don’t have a relationship with your local banker, make one. You won’t believe how much easier your life becomes when you have them on your team,” said Ehlers. Then Fannon read her winning essay with the group.
Carla Madson provides a report on the 2015 National Educators Conference.2015 National Conference Report
Teachers receiving last year’s Iowa Jump$tart scholarships to the National Educators Conference provided a report on the conference. Those teachers reporting included Carla Madson (Urbandale), Jen Snyder (Colfax Mingo), and April Moffitt (Emmetsburg)
Mitch MatthewsOpening Keynote: Is Your Hair on Fire?
Mitch Matthews provided an engaging opening keynote about tacking stress and worry. “Money dominates the top 10 list of what people worry about. To help people manage their money better, we have to address worry,” said Matthews. He then provided tips for training your brain and redirecting your thinking to those things you can control and influence – and letting go of those things you cannot.
Breakout Sessions
Nine different breakouts sessions were offered throughout the day on a variety of topics, including: NEFE’s High School Financial Program Planning (Billy Hensley), Life Skills: Finances – Making it Fresh and Fun (Sarah O’Rourke), Three Things Your Kids Must Know to Be a Financial Success (Jim Garnett), Iowa Council for Economic Education (Kyle Osborne), How to Become a Wise and Efficient Investor (Mike Finley), Gamification of Personal Finance (Jenna Nation), Financial Literacy for Underrepresented, First Generation Students (Allison Severson, Kay Thomas, and Kristen Corey), Family Budget Simulation (Todd Hospodarsky) and Keeping It Real: Borrowing Responsibly for College (Marc Hendel).
Billy HenselyLunch Keynote: Applicable Research on Financial Education
Billy Hensley of the National Endowment for Financial Education (NEFE) provided an update on using research to help understand and address personal finance issues. He shared research had conducted on Millennials, including trends in their financial habits and issues of concern.
Exhibitors
Educators also had the opportunity to visit with more than a dozen exhibitors to learn about additional financial literacy resources available.
Closing Keynote: Finding Free, High Quality Personal Finance Resources
Tim Ranzetta from Next Gen Personal Financial provided an informative closing address on the numerous financial literacy resources available through his organization. Attendees were given a virtual tour of those resources, including lesson plans, activities, projects, case studies, assessments and more, available on their website at nextgenpersonalfinance.org.
2016 National Conference Scholarship Winners
Sandvig announced the winners of Iowa Jump$tart scholarships to the 2016 National Educators Conference Nov. 5-7 in Dallas, Texas. Winners were: Debbie Claussen (Pleasant Valley High School, Bettendorf), Jennifer Anderson (Treynor High School, Treynor), Kristy Nickolisen (Abraham Lincoln High School, Council Bluffs), Tia Shaffer (Independence Community School District, Arlington), and JoEtt Cogdill (Woodbine High School, Woodbine).
Craig Goettsch receives Jump$tart membership awardIowa Jump$tart Member Award
Craig Goettsch of the Iowa Insurance Division was presented with Iowa Jump$tart’s second annual member award for his service with the coalition. or. Craig has served as Iowa JumpStart secretary for more than 10 years, and continues to lead JumpStart’s membership committee.
Craig has been actively involved in nearly every JumpStart initiative, including funding programs, speaking, serving on committees, being an officer, drafting policies and by-laws, and providing counsel. He has been a leader and advocate for all of JumpStart’s annual conferences for teachers and for the annual Money Smart Week Iowa.
The winners of this year’s Geo Cache Money Smart Week event were Gloria Brott and her student Kole Rover from Callanan Middle School in Des Moines. The event focused on helping students gain knowledge about being safe while shopping online. Gloria will receive $100 and Kole $25 from Jump$tart. Gloria is an family and consumer sciences teacher at Callanan. Forty-seven teachers enrolled and 180 students participated in the contest, which was held during Money Smart Week on April 23-30. Iowa AAFCS sponsored this project last Fall and again this Spring.
Iowa Jump$tart Coalition 