Does your tween know what an investment is? Can they explain how it differs from an expense? If so, or if your tween is financially savvy, the Money Smart Kid Essay Contest sponsored by the Federal Reserve Bank of Chicago is for them! If they're not, the chance at a college scholarship is a good reason to start their financial education.
The 10th Annual Money Smart Kid Essay Contest is is an effort to get middle school students in grades 5-8 thinking about and understanding money management. This year the winner will receive a $5,000 scholarship and the two runner-ups will receive $2,500 scholarships. Essays must be 300 words or less. The contest deadline is March 21, 2013.
This year’s essay topic is:
What is the difference between an investment and an expense? What would be a good investment in your community and why? Include who would benefit from your investment.
It's a great topic to spur some financial discussion with your tween, and given them some writing practice, too. The maximum length of 300 words keeps the project at a very manageable length - nothing onerous here, but a good chance to demonstrate knowledge of important yet fundamental principles that a tween can grasp.
The six finalists in the essay contest. are invited to attend the April 17 Money Smart Week® Kick-Off breakfast where the winning student will be announced and invited to read his or her essay.
The essay contest is part of the activities taking place during the annual Money Smart Week® which is April 20-27, 2013. It features free, educational financial literacy programs covering a multitude of topics, from budgeting to estate planning, from saving for college to retirement. Launched in 2002 by the Federal Reserve Bank of Chicago, the program is now active in more than 35 states through national partnerships with the American Library Association and the Financial Planning Association.
Get more information and details on both the essay contest and Money Smart Week® at the MS Kids Contest webpage. There are different contest based on location, including the Chicagoland area. When I asked, they said "'Chicagoland' refers to: Chicago, the rest of Cook County, eight nearby Illinois counties (Lake, McHenry, DuPage, Kane, Kendall, Grundy, Will and Kankakee), and two counties in Indiana, Lake and Porter." Other Illinois location contests include DuPage and Peoria. There are also contests in Indiana, Iowa, St. Louis, Fond du Lac County Wisconsin, and El Paso, Texas.
Tell your tween to show you the money!
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Filed under: Education