It’s best to develop money-saving habits when you’re young, so Georgia Saves is reaching out to Georgia students with its inaugural Make Your Own Piggy Bank Contest.
Georgia Saves, part of the nonprofit Consumer Federation of America and sponsored by University of Georgia Cooperative Extension, wants students to design their own unique piggy banks to help inspire their peers – and their parents – to start saving.
The contest is open to students from first to 12th grade, and the entry deadline is March 15.
“Spending takes no special talents or abilities; anyone can do it,” said Michael Rupured, a financial management specialist with UGA Extension and the contest’s co-organizer. “Saving, however, is a habit that needs to be developed, practiced and encouraged. Developing the saving habit at a young age pays off big over the course of a lifetime. Piggy banks are an important tool for developing the saving habit and shifting the conversation from spending money to saving it.”
Students must make a piggy bank that allows money to be put in and taken out without destroying the bank. They also have to demonstrate how their bank works in a short video posted on Instagram. This less-than-60-second video should show the materials used and allow the student to showcase their banks in the best light.
Winners in elementary, middle and high school age brackets will receive $50, $100 and $200 gift cards, respectively. Banks will be judged on originality, creativity, functionality, visual appeal, overall impression, and the video presentation and its popularity on Instagram.
The piggy banks and the accompanying videos will be used to promote the Georgia Saves pledge, which encourages saving toward a specific goal in order to help kick-start new saving habits. Those who take the pledge receive regular reminders to save via text message as well as money-saving tips. Visit GeorgiaSaves.org to take the pledge.
For more information and requirements about the Make Your Own Piggy Bank Contest, contact your local UGA Extension office or visit www.fcs.uga.edu/extension/money. Individual students as well as class groups are encouraged to enter the contest.