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Florida Youngster Has Amazing Grasp of Money Skills

The level of financial responsibility demonstrated by Jordan Lane-Palmer, winner of the National Foundation for Credit Counseling’s (NFCC) 2011 National Financial Literacy Poster Contest, could be the envy of many adults.

Lane-Palmer, a 9th grade student at A.W. Drewfoos Jr. School of the Arts in West Palm Beach, Florida was one of more than 1,800 students across the nation who submitted posters around the theme of “Be a $uperhero! $ave Money!”

Making smart money decisions is not a new concept to Jordan, as he credits his mother and grandmother with teaching him sound money habits and raising him with an appreciation for money. He recently put those early life lessons to work by consistently depositing his allowance into his local credit union account, and allowing the money to grow until he had saved enough to reach his short-term goal of purchasing a robot modeling kit.

That first success motivated him to set loftier goals and begin saving toward them. He realizes that there are many things on which a teenager could be spending money, but his new goal is saving for college, and he’s determined to meet it. “Once you decide to escape from destructive spending habits and follow a stable path for money management, you move closer to fulfilling your dreams for yourself and your family,” said Lane-Palmer.

The purpose of the annual poster contest is to introduce young people to the concept of financial literacy, and allow them to express their understanding of it through art. A panel of judges representing government, nonprofit organizations and consumer advocacy groups found Jordan’s poster to be not only artistically creative, but also practical in that it laid out specific steps along the path to achieving your financial goals.

As a part of the prize, Jordan was recognized at the Jump$tart Coalition Annual Awards Dinner last night where the NFCC presented him with the grand prize award of a $500 savings bond. During his trip to Washington, DC he toured the US Bureau of Engraving and Printing, and met with both Federal Reserve Chairman Ben Bernanke and Secretary of the U.S. Treasury, Rosie Rios.

“Jordan sets a fine example by putting into practice what he has been taught. Since the majority of Americans indicate that they learned their personal finance skills at home, Jordan’s mother and grandmother also have a lot to be proud of,” said Gail Cunningham, spokesperson for the NFCC.

Lane-Palmer’s poster was submitted by NFCC Member Agency, Consumer Credit Counseling Service of West Palm Beach, part of the CredAbility network of credit counseling agencies. “It is never too early to teach the importance of saving and managing your finances,” said Jessica Cecere, regional president for CredAbility. “This contest was an excellent opportunity to promote financial education and reinforce the benefits of money management at any age.”

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About njacobs

Nick Jacobs is the Director of Communications for the NFCC (national Foundation for Credit Counseling).

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