April is Financial Literacy Month

April is National Financial Literacy Month, and both local and statewide public officials and organizations have made education for residents of all ages a priority.

Here in Eddy and Foster Counties, NDSU Extension Service partnered with local banks, credit unions and schools to provide a lesson to first grade students on earning, spending and saving. The goal of the partnership is to teach positive money behaviors at an early age. As a part of the lesson, each student was provided with a piggy bank that is theirs to keep. They decorated the bank for a "Piggy Bank Pageant" contest. The piggy banks are displayed at local banks and credit unions through the month of April.

As part of the lesson that was presented at school, the students set a savings goal that is displayed along with the student's entry. Bank patrons can "vote" on the piggy bank they like best by placing a penny in the slot. All students will keep the pennies, or "votes" they have earned, at the close of the contest on Monday, April 30. In addition, the first place winner at each financial institution will be awarded $15, the second place winner $7 and the third place student $3.

These piggy banks are just one of the ways State Treasurer Kelly Schmidt is working to promote financial literacy among children. She says, "Teaching our youth sound financial practices at an early age is very important. There are many fun ways to start habits early on and as children get older they will be set up for financial success."

Schmidt's efforts have helped build a partnership between the Bank of North Dakota and NDSU Extension to deliver a number of successful programs through the North Dakota Jump$tart Coalition. Established in 2006, Jump$tart is a nonprofit organization that actively works to improve the financial literacy of our citizens. They educate the public through speaking engagements and workshops, provide information and materials, and collaborate with organizations and lawmakers on various projects throughout the state.

Through a partnership with education technology leader EverFi, Schmidt is collaborating with local businesses and financial institutions to bring this opportunity to every North Dakota student, at no cost to local schools or our taxpayers. Schmidt writes. "Our office has partnered with VISA and EverFi to introduce financial concepts to our youth in and out of the classroom. Using these tools comes at no cost to our schools or taxpayers, thanks to partnerships with local business and financial institutions." EverFi's financial literacy courses introduce concepts to students at an early age. These interactive, online programs were specifically designed to introduce financial literacy skills using fun digital learning. They bring complex financial concepts to life in today's digital language. EverFi's platform features the latest in new media technologies, including video, animations, 3-D gaming, avatars and social networking. The content is aligned with Jump$tart and North Dakota education standards and can work as a stand-alone resource or alongside existing curriculum.

Another partnership for financial literacy is the Real World Camp, which is made possible by the Bank of North Dakota and NDSU Extension. The Real World Camp, which aims to help kids grades 5-9 make real-world financial decisions, is free and open to the first 150-250 registrants within each participating city. This year's camps are full, so if you would like your child to be involved in future camps, just "Like" the Real World Camp Facebook page to be alerted when registration opens for next year. Participants learn about topics that affect our daily lives like budgeting, identifying wants and needs, using debit cards and checking accounts and preparing for credit and jobs.

A fun way to teach financial literacy at home or in the classroom is with Visa's Financial Football. This fast-paced, sports-themed game is structured as a comprehensive teaching tool. Students of all ages learn key concepts about saving, spending, budgeting and the wise use of credit. Each module begins with a narrative overview of the concepts to be taught. A "goals and objectives" section briefly describes the expected learning outcomes of the module. Teaching notes feature primary material on which module concepts are based. Educators may use the teaching notes as-is or adapt them to their own teaching style. The discussion segment allows students and educators to practice applying learned concepts through the discussion of concrete examples. The activity can be used as a group exercise or as an assessment of student learning. The lesson modules were developed for three distinct age levels: rookie for students aged 11-14, pro for students aged 14-18 and hall of fame for students aged 18+. It is never too late to improve our financial literacy.

With this month's focus on financial literacy, it's a good time to take control of your financial life. Schmidt recognizes that good financial education starts in the home, however a large number of consumers are currently experiencing some sort of financial difficulty causing a significant impact on their everyday lives. Currently, Americans carry more than $2 trillion in consumer debt and 30 percent of consumers report having no extra cash, making it impossible to escape the burden of living paycheck to paycheck. Focusing on financial literacy helps to create a successful strategy to better their overall financial position. Having a clear and accurate picture of where you are and where you want to be will make establishing and accomplishing financial goals a painless reality!

Learn more about financial literacy at any of these sites: http://www.nd.gov/treasurer; http://www.northdakota.financialfootball.com; http://www.ndjumpstart.org; http://www.everfi.com; https://www.ag.ndsu.edu/money/and https://powerpay.org.