Cha-Ching! Money Smart Week Puts the Spotlight on Smart Money Management
Since the beginning of time — and of a viable currency system — people have thought, written, talked, and even sung about money. Whether you have too much of it or not enough, money is something that does indeed make the world go ‘round.
That’s why it’s so important to know how to earn it, manage it, save it and make it work for you.
That message is delivered loud and clear during Money Smart Week, an annual event originated by the Federal Reserve Bank of Chicago more than a dozen years ago, and one which has grown in scope and reach through partnering organizations across the country.
BMO Harris Bank is one of those organizations, joining other financial institutions, schools, businesses, libraries, nonprofits, government agencies and the media to stress the importance of financial education and provide resources to help people better manage their money.
This year’s Money Smart Week took place April 5 – 12, and teams throughout the bank held events across our footprint, including communities in Arizona, Florida, Illinois, Indiana, Kansas City, Minneapolis, Missouri and Wisconsin.
A significant focus was placed on successful homeownership, with workshops ranging from steps to homeownership to understanding your credit. Additional activities ranged from money management and budgeting workshops to the Money Smart Kid Essay Contest.
In Chicago, the Federal Reserve Bank of Chicago and its partner organizations, including BMO Harris Bank, sponsored the Money Smart Kid Essay Contest for kids grades 5 to 8 who were asked to address the following topic:
“Every instrument has a certain amount of risk and an expected return. Imagining you are speaking to an investor, describe how investing in you (such as paying for college or technical school costs) will produce a return. Please be sure to discuss what types of risk the investor would take.”
- In Milwaukee, BMO Harris sponsored an essay contest at two local schools, Carmen High School and the Hmong American Peace Academy. Winners were awarded total scholarships of $500 per school.
- In Aurora, Ill., BMO Harris Bank was proud to partner in presenting the “Experience Aurora Homeownership Exposition,” which highlighted the benefits of homeownership, great quality of life, experiences and other amenities that make Aurora such an attractive community for families considering new homeownership opportunities.
- In Keshena, Wis., kids at the Menominee Tribal School and Menominee Indian Middle School were entertained and educated by The National Theatre for Children’s presentation of “Mad About Money.” Professional actors performed in four comedy sketches that taught kids about the importance of managing money. Surrounding communities were also invited to an evening presentation at the Menominee Indian High School Theater.
“We were very excited to bring the Mad About Money Program to our students, and to have BMO Harris as a partner during Money Smart Week,” said Sharon Waukau, Chair of the Menominee Nation Money Smart Week. “When resources are limited like they are in our community, we look to those who may be able to offer either financial or technical support to turn an idea into reality. We feel the nearly 200 native youth in our middle schools who face many challenges from day to day deserve a great financial education program to help them develop the skills so they can be ‘money smart.’ Thank you for partnering with us and believing, as we do, in our youth and in their future.”
To find out more about Money Smart Week, go to moneysmartweek.org.