Clear Lake teen named Iowa’s Money Smart Kid

Sam Jones, an eighth grader at Clear Lake Middle School, has won a statewide financial literacy essay contest and has been named Iowa’s 2012 Money Smart Kid.
    Jones was recognized at a Money Smart Week kickoff event at the Federal Reserve Bank of Chicago’s West Des Moines office. At the event, John Sorensen, president and CEO of the Iowa Bankers Association, and Marybeth Foster,

executive director of the Iowa Credit Union Foundation, presented Jones with an award honoring this accomplishment.  Jones also received a $1,000 College Savings Iowa account, co-sponsored by the Iowa Bankers Association and Iowa Credit Union Foundation.
    More than 140 students from across the state participated in the essay contest.  To be eligible, students had to be in grades sixth through eight and submit a 300-word essay. The essay had to describe when it is wise to borrow money and when it is not, the factors to consider when considering a loan and the concept of opportunity costs.  The top six essay finalists also had to participate in an interview with contest judges.  From those finalists, Jones was selected to be the 2012 Money Smart Kid.
    “I am happy to see the number of essays that we received from students across the state this year,” said Kellie Masters, chair for the Money Smart Youth Outreach Committee.  “It is amazing to think that there are 142 kids from around the state who are going to make smarter financial decisions in their future because of what they learned in writing this essay.  We - Read More Via e-Edition