Money Smart Kids Essay Contest

Your Kid Could Win $2000 for College!


Some say that success in life depends on having lots of money. Others say that success is the ability to make all the right decisions. Many conclude that the definition of success is being happy, feeling loved or even contributing back to our fellow man.

But we all agree that the proper use of money can really enhance our lives and the lives of those around us. The less stressed we are about money, the greater our potential to be productive.

Well – what if all of the above is correct? If it is, then preparation and training should start when you’re young. You know the saying that “a mind is a terrible thing to waste” or “teach them young and surely they will prosper”?

Well, we’re here to help with the 2012 Money Smart Kids Essay Contest!

Money Smart Kids (MSK), part of Money Smart Week 2012, is a platform for kids to share their ideas on the knowledge and understanding of financial issues.

What is Money Smart Week? I’m glad you asked!

Money Smart Week is an annual program sponsored by the Federal Reserve Bank in Chicago and now in its 5th year here in Bloomington-Normal.

The Money Smart Kids Essay Contest offers a $2000 prize for this year’s Money Smart Kid! To enter, contestants must be in grades 6-8, and live here in McLean County, Illinois. Applicants are asked to provide an essay (no more than 500 words) that answers this year’s Money Smart question:

Decision Making and Money – 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.

That’s a great question isn’t it? How would you answer it? If you are not a 6th – 8th grader, post your answer here, but if you’re qualified to enter the Money Smart Kids essay contest, answer the question there, because then you could win $2000!

Enter the contest between February 1-29 at All the essays will be judged, five finalists will be interviewed, one winner will be named at the 2012 Money Smart Week kick-off event on April 18, and the runners-up all will receive special recognition and prizes.

Financial literacy is the key to becoming financially secure, and it’s best to start learning early, before bad habits are created. All of us can contribute to helping our kids learn to live with financial dignity when we challenge them to learn how to manage money as opposed to showing them by default how money can manage you.

For more information and to keep up with all the latest Money Smart Week news, like our Facebook page at!

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