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Children Learn About Saving, Spending, Sharing Money at the Williston Library

FOR IMMEDIATE RELEASE: February 14, 2007

Learning how to shop while staying within a budget is perhaps one of the hardest lessons of successful money management, but the 10 children attending a workshop on Feb. 5 at the Dorothy Alling Memorial Library, Williston, discovered that it’s all about making smart choices.

Vermont Jump$tart for Personal Financial and the Vermont State Employees Credit Union partnered to create "Camp Money Ha-Ha," a workshop to teach children ages 6-10 one of the first lessons of responsible money management—shopping on a budget. The credit union’s Jennifer Ciechanowicz and Lynette Kemp led the young workshop participants and their parents on an imaginary shopping trip to buy camping supplies for a two-day camping expedition. Children were encouraged to make their own decisions as they selected tents, sleeping bags, and other camping supplies—all while staying within their budget of $250 dollars each.

"Our goal with this game is to show young people that it is important to only spend the money you have available and then allow them to experience the good feeling of having some money left over to save for future purchases," Kemp said. "It is never too soon to begin these lessons. Some of the children who participated in this workshop were as young as six years old, and so we hope this game has planted the seed of the importance of budgeting and spending wisely."

As the children made their selections from cards picturing the camping supplies, they had to consider their wants versus their needs and make cost comparisons. Some parents were surprised to discover how thrifty their children could be. One father commented that his son chose all the "cheapest" supplies, while a mother noted that she was surprised how frugal her daughter was "when spending her own money." Children who had money left after making their purchases were asked how they would use their remaining dollars. All said they would save their money…to buy more expensive items such as an iPod or a car.

"The main lesson the children learned was that managing their money is an important life skill, like learning to read or solving math problems," said Jill Coffrin, Youth Services Librarian. "They also learned about making choices with their money and setting priorities. It’s not always possible to get everything you want."

At the conclusion of the workshop, participants were given Moonjar® Money Boxes, which provide separate compartments for money to "Save," "Share" and "Spend." Ciechanowicz led a discussion about the importance of saving and possible ways they might share and spend their money.

The Vermont State Employees Credit Union is a founding member of Vermont Jump$tart, a nonprofit organization of individuals, businesses and organizations seeking to promote financial literacy among Vermont’s young people. Vermont Jump$tart provides educational resources, guest speakers and other support to educators and parents. To find out more financial literacy programs, visit Vermont Jump$tart for Personal Financial Literacy at www.vtjumpstart.org and the Vermont State Employees Credit Union at www.vsecu.com. For more information about children’s programs at the Dorothy Alling Memorial Library, visit www.williston.lib.vt.us.

Jennifer Ciechanowicz, manager of the Waterbury Branch of the Vermont State Employees Credit Union, discusses ways to save money using a Moonjar® Moneybox with children participating in Camp Money Ha-Ha, a program offered by the Credit Union at the Dorothy Alling Memorial Library, Williston.

For more information, contact:
Lynette Kemp
lkemp@vsecu.com or 802/800 371-5182