It has been a busy Spring here at Money Savvy Generation with National Financial Literacy Month in April and all that revolves around this high, holy month of financial literacy. I’ll be sharing a few snippets of what we’ve been doing since my last post – some really exciting and inspiring things – starting with the crowning of a new Money Smart Kid in Chicago. The Money Smart Kid for 2012 is a dynamic young lady named Deirdre Flanagan who “wowed” the crowd – and the Money Smart Kid committee – with her essay to the following question:
“Give an example of when it is wise to borrow money and when it is not. What factors do you need to consider to help you make a responsible choice? Please be sure to discuss the concepts of decision making and opportunity cost in your answer.”
Deirdre read her essay, “To Borrow or Not To Borrow, That is the Question!”, aloud to all attending the Chicago Money Smart Week Kick-off Breakfast held at the Chicago Federal Reserve Bank. I – and everyone around me – was amazed and inspired by this young 5th grader’s financial savvy and solid understanding of the importance of considering your options when it comes to borrowing. Her essay concluded with:
“Borrowing is good when I have calculated that I can safely repay the loan and make even more profit. After all, money makes money, and that’s what it’s all about. Now, I’m ready to call the bank!”
Deirdre, you are an inspiration to all of us fighting the good fight for financial education in our schools and at home. We wish you all the best this year as the new 2012 Chicago Money Smart Kid!