The Haxtun-Fleming Herald - What can we reason but from what we know? -Alexander Pope

Financial planning is one of the most important things someone can do to promote economic well-being. One avenue Colorado State University Extension takes is working with the fourth graders through the Piggy Bank Primer educational program from the Federal Reserve Bank of St. Louis. Family and Consumer Science Extension agents across the nation promote Financial Literacy Awareness Month, which is Nationally recognized each year to raise public awareness of the importance of maintaining smart money management habits.

The Piggy Bank Primer goes through a story and various financial activities. The student book introduces students to economic concepts such as saving, spending, budgeting/money management, wants, goods, services, decision-making, and opportunity cost. Mrs. Charla Huwa's fourth graders are then encouraged to enter a piggy bank contest by creating their own unique piggy bank from recycled materials using items such as - milk cartons, soda or water bottles. The contest is a way to inspire kids to save while also learning the difference between needs and wants. The students also have the option to dress up an existing piggy bank with markers, crayons, picture cutouts, fabric or buttons. The sky is the limit when it comes to their imagination.

The piggy banks are then judged based on the contest rules, such as their ability to hold coins and dollar bills, creativity and must be no larger than 12 inches tall by 12 inches wide. The piggy banks are then displayed at Points West Community Bank for the community to see. The competition allowed students to be innovative and helped them set personal savings goals. Huwa's fourth graders then round out their financial, educational series by visiting Points West Community Bank to expand their financial education further by touring the bank, learning about debits and credits, writing a check and the importance of balancing a checkbook.

Piggy banks can be helpful tools to help teach children the basics of spending, savings and sharing. Points West Community Bank generously sponsored the piggy bank contest. Lance Chapdelaine, Loan Officer, spoke to the fourth grade class about his position as a Loan Officer and gave the piggy bank contest winners their cash awards to begin or expand their savings journey. Contest winners: Avery Horton, first place, $15; Mason Boerner, second place, $10; tie between Rylie Ham, Adley Kurtzer and Danni Williams, tie for third, each receiving $5. The rest of the fourth graders were given $1 to add to their piggy bank. CSU Extension also gave each child a piggy bank for participating in the program.

CSU Extension encourages parents to talk to their children about the importance of establishing healthy money behaviors, as The Journal of Youth and Adolescence shows that children tend to model their parents' financial behavior and attitudes. Additionally, the financial education children receive as adolescents can predict future spending behavior. By maintaining a healthy perspective toward spending, budgeting and saving - and being open with your children about the subject - you can help ensure your children have a healthy relationship with money.

Today piggy banks have become an enduring icon for financial literacy - a tool to teach kids about the importance of saving money. The Piggy Bank Primer program lays a good foundation for a child's future, and it's fun for the community to see their creations in the bank. Financial education helps. Research has shown that little as 10 hours of instruction positively impacts students' spending and saving habits.

Colorado State University Extension has several resources to help educate the community about financial topics related to earning, saving, spending, goal setting, budgeting, and teaching children about money. If you need help with financial resources, don't hesitate to get in touch with Phillips County's Family and Consumer Science Extension agent, Stephanie Starkebaum, by calling (970) 854-3616 or visit our LiveSmart Colorado Blog - http://www.livesmartcolorado.colostate.edu, which is dedicated to Family & Consumer Science-related topics.