Money Smart Week for everyone

Apr 4, 2014

Today begins Money Smart Week, and Interfaith Housing Services has planned a plethora of events for anyone needing assistance on such topics as sending kids to college and repairing one’s credit.

This is the first time Hutchinson is participating in Money Smart Week, a public awareness campaign designed to help consumers better manage their personal finances, said Lorna Moore, IDA program manager with Interfaith Faith Housing Services. It was started by the Federal Reserve in 2002 in Chicago, and has grown into a national event.

“The week is geared for everyone,” Moore said. There will be a class on recycling at the Boys and Girls Club, and another on recovering from identity theft and financial crimes.

“There are all kinds of classes day and evening, and everything ends up on Saturday with the MoneySmart Week Finale at Hutchinson Credit Union’s Avenue A branch. Everyone who attends a class during the week gets a ticket to bring to the final event and put in the hopper and draw for prizes,” Moore said.

In preparation for the week, Interfaith Housing Services hosted an essay and coloring contest. A South Hutchinson Elementary School student proved one can never be too young to have a firm grasp on money issues: Colton Ediger, a sixth-grader, wrote the award-winning essay dealing with the topic of how winning a million dollars would change his life and what his spending plan would look like. First Colton wrote that he would take $250,000 for taxes.

“He did the math and learned he would have $750,00 left,” Moore said. “Then he planned to set $240,000 away for college and then set aside $400,000 for parents to retire. Then he would have $110,000 left and would take three-fourths of that and save for an emergency.”

Libby Jackson, 8, tackled this question: There is a lot to learn about money. What do I need to learn? Libby wrote about the importance of not wasting money and keeping it in a bank account.

“She wrote that money doesn’t just fall from the sky,” Moore said.

Regan Walle, a 3-year-old, won the coloring contest. All three participants won $25, which was deposited in a savings account for them.

Interfaith Housing is sponsoring the week of activities, which is funded by the Hutchinson Community Foundation and numerous local sponsors who have contributed prizes including a computer and tablet.

To learn more about the week’s schedule of events, go to http://cashkansas.org/money-smart-week/

Hutchinson is not alone. Across the country there will be a collaboration of hundreds of organizations including businesses, financial institutions, schools, libraries, not-for-profits and government agencies stressing the importance of financial literacy. They will inform consumers about where they can get help and provide free educational seminars and activities. Programming is offered to all demographics and income levels.

Hutchinson News