Saving money may not be the most glamorous of activities, but as stated by famed investor Warren Buffet in an article with Inc. Magazine, “The biggest mistake is not learning the habit of saving properly.” Unfortunately, most students don’t have the opportunity to learn about how to save money until well after their K-12 education. Parents often struggle to find the time to teach their kids about money and many schools have little to no curriculum to help students learn practical ways to earn, manage and save their money either.
Without a strong understanding of finances it can be daunting for parents and educators to help students understand the best practices in this important life skill. However, there are resources available. One great opportunity we recently learned about is the “Lights, Camera, Save!” contest for teenagers from 13 to 18 years old. This student video contest managed by the American Bankers Association teams up local banks with community partners to present personal finance lessons to teens and help them get creative making their own video about saving! Student videos from the Lights, Camera, Save contest have been shown at local film festivals and even been written about in the New York Times.
Teens submit a video up to 90 seconds long about saving, using money wisely, or paying for college. The contest awards three national prizes of $5,000, $2,500, and $1,000 to the top videos each year. In addition to this, students learn best practices in saving money while getting creative and doing something fun! The contest promotes smart money skills and provides a creative outlet for students to internalize the importance of getting started saving early.
Check out if a bank in your area is supporting the contest and get involved today to help your students understand more about saving! Video submissions are open until December 3rd, 2019.
Check out past winners and learn more about Lights, Camera, Save! on their website.