Merrimack Valley Credit Union (MVCU) member Olivia Lu-Alba received an Honorable Mention in an essay contest hosted by the Cooperative Credit Union Association (CCUA). The eighth-grader at West Middle School in Andover, Mass. was recognized with a $50 check from the CCUA, as well as a $50 gift card from MVCU.
Lu-Alba had to submit a 250 word essay about why she thinks
schools should add financial literacy as a core curriculum:
“Financial literacy should be added as a core curriculum in our school systems because children would learn to manage their money. Budgeting and money management are essential skills needed to be mastered to create a successful life. Money is around us everywhere. Kids as young as five are earning allowances, so why not teach them the value of things, to save for something they want, and to think twice about impulse buying. It can start simple, with little ones seeing what a dollar can buy. Maybe high school students can learn and earn to save for college, or even a car.
Being properly educated in financial literacy can benefit families by allowing them to work together on how to spend extra money on things like vacations, a new television, or a partial house remodel. Everyone will have a better understanding of why we can or cannot afford something. The options are limitless if you know your budget and what you can manage. Knowing how to maintain your spending will provide you with stability and a healthy state of mind.”