This month is National Financial Literacy Month. Each April, across the country, the importance of financial literacy and establishing and maintaining good financial practices is promoted. Philadelphia Federal Credit Union’s 3rd annual art competition began last week on April 1, 2014, to coincide with the first day of National Financial Literacy Month.
While most people agree that teaching good financial habits starting at an early age is a good idea, the truth of the matter is the topic of money is not often discussed with young people in their classrooms and in their homes. Through PFCU’s art competition and classroom presentations on budgeting, PFCU sets out to change this and prompt conversations about money between young people and their parents and teachers.
To help young people learn the importance of practicing good financial habits such as saving money, budgeting and setting financial goals at an early age, PFCU began an art competition in 2012. PFCU’s “Picture of Success Art Contest” is open to Philadelphia-area students in grades 3-5. The contest asks students to submit a work of art that depicts one of their financial goals for a chance to win prizes for their entire classroom, along with a personal $100 savings account. The deadline to submit entries is May 7, 2014. Students interested in entering should visit www.pfcu.com/artcontest with their parents to read the contest rules and download the Official Entry Form.
As part of the program this year, PFCU will visit local classrooms during the month of April to give a hands-on lesson that will teach students how to create and maintain a budget, which is the foundation to achieving financial goals.
Since PFCU began this program in 2012, more than 40 schools in the Philadelphia area have participated. Teachers interested in having their students participate in the art contest and/or scheduling a time for PFCU to visit their classroom to give a presentation during the month of April are encouraged to email firstname.lastname@example.org for more information. Even if a child’s school isn’t participating, parents can still get in the spirit of Financial Literacy Month at home by talking to their kids about money and entering PFCU’s “Picture of Success Art Contest.”