Saving Makes Cents 2009 Winter Newsletter by ejp19597


									  Winter 2009

  Volume 3                     State Treasurer Tim Cahill’s
  Issue 2
                               Financial Education Division

 Inside this issue:
   Treasurer’s Letter   1
                                                                                                    “                              ”
    School Supply
   Incentive Contest
   “Four Downs For
   Finance” Update
                        2        A Message from Treasurer Cahill
   Priceless Fun For
   the Whole Family              It is my distinct privilege to begin 2009 by
                        3        wishing a Happy New Year to all participants in     contest is an opportunity for students to help
                                 the Saving Makes “Cents” program. The               remind their classmates to bring their Saving
    “Banking Day”                                                                    Makes “Cents” money into school on their
                        3        program is in full swing with over 500 schools
    Poster Contest               and 200 banks participating. As always, the goal    designated banking day. All contest finalists will
                                 for this year is to continue to teach students in   have their posters on the Official State Treasury
    Stay Connected      4        Massachusetts the importance of earning and         web site. The entries will be available for
                                 saving money. In 2009, the Saving Makes             Schools and banks across the Commonwealth to
 Saving Makes “Cents”                                                                download and utilize. In addition, the
                      4          “Cents” program will feature innovative
    Starts at Home                                                                   Grand-Prize winner will receive a $500 savings
                                 initiatives including new contests, programs and
 Olympic Gold Medalist           financial tools for students and teachers.          bond.
        Kicks Off
                                                                                     I encourage you to start 2009 off right, by
  Saving Makes Cents” 5          I also would like to take this opportunity to
                                                                                     continuing to practice consistent saving and
                                 thank all the students who participated in the
    Event for 2009!                                                                  setting financial goals to make this the most
                                 “Four Downs for Finance” contest. I was most
                                                                                     successful semester for Saving Makes “Cents”. I
                                 impressed with the outstanding entries
    “Credit for Life”   5                                                            sincerely thank you for your participation in this
                                 submitted by students of all ages from across
                                                                                     program and your support of financial education
        Games                    the Commonwealth. I commend the many
                        6                                                            initiatives in Massachusetts.
                                 parents, teachers, and bankers for helping
                                 educate hundreds of participants with regards
  Contest Entry Form             to banking, financial goal setting and the          Sincerely,
                                 benefits of saving money.

                                 Further, my office and I are looking forward to
 Good Money Habits for           our spring “Banking-Day” Poster Contest and we
                                                                                 Timothy P. Cahill
     the New Year                encourage each of you to participate. This new
                                                                                 Treasurer and Receiver General
    • Earning Money
  Babysitting, Yard Work,
       or Shoveling.

   • Spending Money
   Know the difference          The Office of State Treasurer Tim Cahill             measurement of how students are
between needs and wants.        introduces the Annual School Supply                  understanding and gaining financial
                                Incentive Contest for teachers across the            knowledge from the program. Our goal is
                                Commonwealth. Teachers have the                      to continually make improvements to the
  • Saving and Interest         chance to win school supplies by                     teaching materials.
  SAVINGS: Putting aside a      administering the Pre and Post survey in
sum of money for future use.    their classrooms. The 10-question survey                 To receive an entry form and more
  INTEREST: Banks pay a         is found in the “Teachers Guide” is for                information, teachers should visit the
depositor for keeping money     students to take at the beginning and end                    State Treasury website at:
       in the bank .            of the program. This survey provides the
                                State Treasurer’s Office with a            

            The Office of State Treasurer Tim Cahill would like to thank all “Four Downs for Finance”
         contestants. The following contestants have displayed an exceptional understanding of how to
                                   save money and why it is important to them.

       Congratulations to the “Four Downs For Finance” Finalists!
         Grand Prize Winner                              2nd Place Winner                      3rd Place Winner
        Chelsea Smith, Grade 6                       Waseem Chebbo, Grade 4                   Clark Dumart, Grade 11
   New Hingham Regional Elementary                    Clifford Marshal School                    Shrewsbury High School
             Chesterfield, MA                               Quincy, MA                            Shrewsbury, MA
          Florence Savings Bank                      Braintree Cooperative Bank

                                                 “You can put your money to work
                                                you. As you continue to contribute
                                                over time you will be earning more
                                                  interest on the money you have,
                                                   when you put in each month.”

    “I want to save money for college                                                      “I am saving for my future and
 because I want to learn how to be a vet                                                        most importantly my
  and work with animals, mostly cows.”                                                              education!”

                              Weekly Winners!
      Each weekly winner received a framed photograph of
         Lonie Paxton from the New England Patriots.

Taylor Jones, Abigail Adams             Lexie Petzold, Sainte Jeanne D’Arc
Seamus Cullen, Sage School              Mathew Palermo, Sainte Jeanna D’Arc
Ashley Connolly, St. Peter Academy      Anna Murashko, Melrose Veterens Mem.
Rachel Lombardi, Jordan Jackson         Cecelia Laflamme, Hatfield Elementary
                                                                                   Lonie Paxton the long-snapper for
Ben Tillman, Tisbury School             Jack Zigmon, Hatfield Elementary
John Cole, Jordan Jackson Elementary    Shannen Hogan, Hatfield Elementary
                                                                                       the New England Patriots
Brittney Gates, St. Peter Academy       Jennifer Ortiz, North High School
Isabell Seppa, Peaslee Elementary       Madelyne Skrocki, Hatfield Elementary
                                                                                         Special Thanks!
Anna Kemp, Robinson School              Zachary Rosato, Palmer River Elementary      The following banks deserve to be
                                                                                       recognized for their students
Eddie Evers, Warren-Prescott            Liam Pitrat, Hatfield Elementary
                                                                                       participation in this contest.
Victoria Smith, New Hingham Regional    Victoria Smiarowski, Hatfield Elementary
Anna Murashko, Melrose Veterans Mem.    Emily Tourigny, Hatfield Elementary
Miranda Martin, Sainte Jeanne D’Arc     Hannah Mackinnon, Falls Elementary
Caitlin Cullen, Sage School             Dayma Britland, RH Conwell Elementary                               The
Joseph Tivey, Sainte Jeanne D’Arc       Emily Dold, Falls Elementary
Tristyn Mitchell, Sainte Jeanne D’Arc   Carrie Ellis, Hatfield Elementary
Emily McConville, Falls Elementary      Carlye Bertwell, Shoemaker Elementary
                                                                                                     PAGE 3

Do you have a New Year’s resolution?
Saving money is one smart way to start the new year!

                  Priceless Fun For the Whole Family
   When it comes to winter activities for the             •    Make a Family Dinner– Assign tasks for
                                                               everyone. Choose a dish the whole family can
  entire family to enjoy, there are no limits to
                                                               help prepare and also take the challenge to
               affordable options!                             make a meal with the food you already have
  •   Movie Night– Rent movies from your local                 available.
      library, the rental is usually free and there are   •    Winter Olympics– Set it up your very own
      many of family movies to choose from.                    events, indoors or out, depending on the
  •   Build a Snowman Contest– New England is a                weather. Be creative! Use furniture, sports
      winter wonderland this time of year, so have a           equipment, toys, etc… Make bonus rounds and
      snowman-building contest with your family.               include an egg drop or trivia to make it more
      Make sure to bundle up and stay warm. Then               challenging.
      sit inside and enjoy a warm cup of hot         •         Volunteer- What better way to spend time with
      chocolate by the fire!                                   friends and family then to donate your time
  •    Board Games– On cold winter days, don't                 together. Warm the hearts and hungry of
      forget to pull out the board games. Checkers,            others, by volunteering at a soup kitchen or
      Chess, Monopoly, Candy Land, are all ideal               homeless shelter in your community.
      winter activities.

                  “                                       ”
   State Treasurer Tim Cahill would like to present             WIN GREAT PRIZES!
  the Spring 2009 Banking Day Poster Contest. The The top “Banking Day” Poster contest finalists
   contest is for Massachusetts students in grades      will have their entries posted on the State
    three through six. Students are encouraged to   Treasurer’s website. The entries will be available
     create a poster for the Saving Makes “Cents”   for schools and banks across the Commonwealth
            Banking Days at their schools.           to download and utilize. Each grade will have a
                                                               1st, 2nd and 3rd place winner.
                 This winter edition:                                      Grand Prize Winner
                                                                           $500 Savings Bond
               Please see pages 7 and 8
                 Treasury’s website:                             Second Place               Third Place                $200 Savings Bond         $100 Savings Bond
                                                                           SAVE THE DATE!
               Contact Elissa Montilio
         Via email:                 All entries must be submitted by May 1st 2009

        A Project of State Treasurer Tim Cahill’s Financial Education Department

  Reach parents, faculty,                   school day. Mike Wilcox,         more connected with the school
                                            Branch Manager of Braintree      projects. Overall the use of such
  and staff without limits!                 Cooperative Bank runs the        modern technology with the
                                            banking day events at two        voice recording system is a
 Local schools in Braintree are             elementary                       great way to reach students and
 staying connected about saving             schools in his                   reinforce lessons in practicing
 money with their students in a             community. He                    good saving habits.
 whole new way. Various schools             thinks this is a
 are participating in a new                 highly effective
 message service that allows                way to help
 faculty members to send                    teach students                       FOR MORE INFORMATION
 personalized recorded voice                to save money.                          PLEASE CONTACT:
 announcements to students’                 Since the use
 homes. The elementary schools              of this                               Office of State Treasurer
 use this automated voice                   message                                       Tim Cahill
 message service for banking                service many more students
 day events for the Saving Makes            have been consistently                    Elissa Montilio
 “Cents” program. The night                 remembering to bring their             Assistant Director of
 before the banking day events,             money to school. Parents also
 students will receive a message            think that the system is a              Financial Education
 from their principal reminding             great tool because they
 them to bring their money to                                                      Office: 617-367-6900
                                            become more involved with
 deposit during the following               the program at home and are

                                                                                   FUNNY MONEY
                                                                             •   If you had 10 billion $1 notes
                                                                                 and spent one every second
                                                                                 of every day it would take
 The Office of State Treasurer Tim      financial expertise will present         317 years for you to go
 Cahill has teamed up with Smith        lessons designed to help families        broke.
 Leadership Academy and Mount           save together and to further the     •   How much does 1 Million
 Washington Bank to launch the          mission of the Saving Makes “Cent”       Notes weigh? If you use $1
 Saving Makes “Cents” Starts at         program.                                 notes it would weigh
 Home series. Treasurer Tim Cahill                                               $2,040.8 lbs.
 and Olympic Soccer player                                                   •   What time is it on the
                                             FEATUREED WORKSHOPS                 independence Hall Clock on
 Kristine Lilly paid a visit to Smith
                                                                                 the back of the $100 note?
 Leadership Academy in October          •     Becoming Financially Fit           The hands of the clock in the
 of 2008 to launch the program.                                                  steeple of Independence Hall
 The school will host special                                                    are set at approximately
 events during February, March,         •     Saving for College                 4:10.
 and April with the Treasurer’s                                              •   Currency paper is composed
 Office and Mount Washington                                                     of 25% linen and 75%
                                        •     Steps to Starting a Business       cotton. Red and blue
 Bank. In three evening                                                          synthetic fibers of various
 workshops, speakers with                                                        lengths are distributed
                                                                                 evenly through the paper.
                                                                                                               Page 5

Olympic Gold Medalist Kicks off the 1st
Savings Makes “Cents” Event for 2009!
                                          medals in the past two Summer
                                          Olympics. She received her first gold      Did You know?
                                          medal in Athens, Greece and won her
                                          second in Beijing, China in the summer     •   The first $2 notes were issued
                                          of 2008. Angela is an excellent mentor         by the Federal Government in
                                          and a great advocate of saving money.          1862 and featured a portrait of
                                           Treasurer Cahill was accompanied by           the first Secretary of Treasury,
                                          State Representative James Murphy’s            Alexander Hamilton.
                                          Office on January 16th at the Maria        •   The motto “In God We Trust” on
                                          Weston Chapman School in Weymouth.             all currency was required by
  Olympic Soccer gold        medalist     Treasurer Tim Cahill talked to the             law in 1955.
  Angela Hucles teamed        up with     students about the importance of
  Massachusetts’s State      Treasurer    saving their money for the future and      •   Out of all the notes printed by
  Tim Cahill to kick off     the first    the services that the Treasury provides.       the Bureau of Engraving and
  Savings Makes “Cents”      event of     Angela Hucles touched on goals she set         Printing, $1 notes make up
  2009.                                   in her life which have helped her to be        about 45% of currency
                                          successful in reaching her goals.              production.
  Angela is a native of Virginia Beach,   Angela shared excellent advice that her
  Virginia and alumni of the University   team captain Kristine Lilly taught her.    •   The $100 dollar note is the
  of Virginia. She is currently a         “Work Hard! Have Fun! And Believe! If          largest denomination currently
  member of the Boston Breakers           you believe in yourself you will be able       issued in the United States.
  soccer team and the U.S. Women’s        to accomplish anything that you set
  National team. Angela and her
                                          your mind to.”
  teammates were awarded two gold

                                                            major spending categories. The students are required
                                                            to make decisions about how much money to
                                                            distribute between each spending category including
  The Saving Makes “Cents” program has always been
                                                            housing, transportation, insurance, food,
  a successful financial program for elementary school
                                                            entertainment, credit, and more. Each of the
  students through out the Commonwealth. But what
                                                            spending booths will have different price levels for
  comes next?
                                                            the students to choose from along with information to
  One opportunity for communities is a “Credit for Life”
                                                            help them make wise spending decisions.
  fair. This one-day seminar is designed to teach high
                                                                        For the last ten years Brockton High School
  school seniors the fundamentals of the
  important role that credit plays in                                   found the “Credit for Life” fair to be a very
  managing many aspects of personal                                     valuable event for the students. For the
  finance. Students will learn to set financial                         first time Quincy Public Schools will also be
  goals, make spending decisions, and                                   using this strategy to teach high school
  develop a future savings plan, based on the                           students the value of practicing good
  decisions they are faced with during this                             finances. State Treasurer Tim Cahill will be
  event.                                                    addressing participants at both Brockton and Quincy
                                                            “Credit for Life” Fairs this spring. Overall the “Credit
  Each student is provided with a lifestyle scenario, a
                                                            for Life Fair” is an excellent simulation experience of
  snapshot of their life at age 25, their credit profile,
                                                            real life circumstances that will teach students how
  marital status, job title, income, assets, debts, and
                                                            to budget spend and most importantly save money for
  health condition. They then will simulate real life
                                                            the future.
  situations by visiting various booths, which represent
                 S    D     P     K   G Q       S   L   J   T   O   Q L
                 B    M O         N   E     Y   E   Z   H   F   N   S   M
                 W Z        I     N   I     C   P   S   S   M E     T   L
                 R    R     N     D   A     H   W I     I   L   A   F   A          1.                           RANE
                 V    W V         A   Z     T   L   G J     I   E   S   D
CHECKBOOK                                                                          2.                           YMEON
                 W F        E     G T       R   I   W T     K   S   E   T
 DONATION                                                                          3.                           IDME
                 M G S            Z   I     I   C   O K     G P     T   K
   GOALS                                                                           4.                           RQTARUE
                 V    E     T     W Y       T   G F     N   V   X   E   O
                 H    Q M C           K     Y   B   I   M S     K   G O            5.                           VESA
                 M N        E     V   J     S   V   A   L   C   H   D   B          6.                           NBKA
                 B    O N         P   I     A   O A     N   G N     U   K
  VALUES                                                                           7.                           KSCOT
                 D    C     T     C   S     B   O F     B   K   M B     C                                          6. bank 7. stock

                 D    Z     E     S   D     G G T       S   M S     G E                   1.earn 3. dime 4. quarter 5. save
                 A    L     L     O W A         N   C   E   N   I   F   H
                 X    B     V     A   L     U   E   S   C   D   J   E   C
                 J    I     L     B   A     R   T   E   R   Y   H   U   G
                 R    P     I     N   T     E   R   E   S   T   K   K   Z      COUNTERFEIT OR REAL?
                                                                               Can you tell which $100 Bill is real?

                     H.I.P Packet Change
                                Kids Bank
                          Young Investors
                          Planet Orange
                           Cyber Chase
                                                                     Answers: A. Fake B. Real
                            Ed’s Bank               Information for this publication courtesy of:
                      Wise Pocket World                              
                      Smart Money Quiz                                        
                    Banking Day
                Banking Day
                                Poster Contest
                              Poster Conte

                   N              G
                                 Deadline for contest: May 1st 2009
               Eligibility: Students in grades 3rd, 4th, 5th, and 6th

                                                                        AND SO MUCH MORE…
1        place winner $500 Savings Bond                      •    All winners will be invited to the Awards
                                                                  Ceremony at the State House in Boston.
2nd place winner $200 Savings Bond                                The top four Banking Day Posters, one from each
                                                                  grade, will be featured on the official State
                                                                  Treasury website in a printer friendly format.
3rd place winner $100 Savings Bond                           •    All participating schools are invited to print these
                                                                  winning designs to remind students throughout

             Imagine you have just been hired by your local bank as the new Director of Adver-
                           tising. Your first task as the Director is to create a
                                               Saving Makes “Cents” Banking Day Poster.
              This poster should remind student-bankers to bring their money to school on their des-
                                             ignated banking days.
                                                         POTENTIAL TOPICS:
                        •         Saving money is fun because…
                        •         Saving money is easy because…
                        •         Compounding interest earns you more…
                        •         Reach your saving goal with consistent saving
                        •         Or be creative and submit an original idea!

                   For Contest Timeline, Judging Criteria, and Question Call: 617-367-6900
                                               Please submit all entries by May 1st, 2009 to:
    Massachusetts State Treasurer, State House Rm 227, Boston MA, 02133 Att: Saving Makes “Cents”
    A project of Massachusetts State Treasurer Tim Cahill’s Financial Education Department

                   * REQUIRED ENTRY FORM *
                         Please share a brief description of your design.

                                  STANDARDS FOR JUDGING
         Creativity                                          Demonstrates the
                                           Originality Demonstrates the objective
                                     Originality                                              objective
                                    Visual communication of the topic
                                Visual communication of the topic.

                      This form must be completed and mailed in with your entry.

                             STUDENT CONTACT INFORMATION:
                                              STUDENT CONTACT INFORMATION:

    Student’s name:

     Student’s name:
    Student’s address:

    Student’s telephone :
     Student’s address:                           _________

    email address:
     Student’s telephone :

    Student’s grade:
     email address:
    Bank’s name:
     Student’s grade:
    School’s name:
     Bank’s name:

     School’s name:

                             Please submit all entries by May 1st 2009 to:
Massachusetts State Treasurer Tim Cahill State House-Room 227 Boston, MA 02133 Attention: Saving Makes “Cents”

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