A local bank is helping students learn about financial literacy in a very creative way. Abby-bank challenged some student organizations at Wausau West High School, Mosinee High School, and D.C. Everest Senior High to get imaginative, learn about personal finance, and help others to understand it too by making a video.
"What does liquidity mean," asked Wausau West's DECA Vice President of Communications Paige Wonder in their video. "Um...when you apply to business...I don't know!" exclaimed a UW Marathon County student.
Students from Wausau West's DECA organization, a marketing and entrepreneur non-profit, are learning that not many college students know basic personal finance.
"We found out that a lot of them were like, 'I don't know what this is!' 'Can I ask someone, can I call a friend?' 'My parents take care of it for me," said Anna Paulson, DECA Vice President of Civic Consciousness at Wausau West.
That is exactly what the employees at AbbyBank want to change.
"We're letting our younger generation understand personal finance at a younger age, so that they can start making good decisions at a younger age," said Stacy Retterath, Marketing at AbbyBank.
Abbybank is doing that, for these driven future leaders, through a video contest. Students said, knowing personal finance will help prepare you for every-day problems in the future.
"It's important to always plan ahead because you need to learn and you need to become educated about what you want to do in the future, so that when you're in college and you're put into tough situations where you have to make a choice, you have the background knowledge to help you with that," said Paulson.
Mosinee DECA students made a video too. They went with a younger approach, interviewing 4th through 6th grade students.
"What's better, cash or credit," asked Mosinee DECA President Erik Jass. Seven elementary students shouted, "cash!" in a spoof off of AT&T's 'It's Not Complicated' commercials.
D.C. Everest's Future Business Leaders of America group did a movie trailer styled video about an out of control spender.
They'll be judged on their work, of course. The group to win best overall video will get $1,000. There are also rewards for most creative, winning them $200 and best produced video too, also for $200. It's money that will help students attend state, national and international competitions, as well as other conferences.
"There's a plane ticket expense, there's a hotel because this year it's in Atlanta, GA," said Wonder. "Our DECA organization does pay for some of it, but it doesn't pay for all. So, sometimes it is hard for people to come up with the means to go to it and sometimes they don't get to experience what a great opportunity they could have had."
Students said these competitions and conferences can cost the students an upwards of $800 per person after the help of sponsors. The money won from this 'Producing Future Leaders' project can give students, who otherwise would miss out on these learning opportunities, a chance to learn how to lead.
Paulson said, "last year my partner and I qualified, but she was unable to come up with the funds, so we weren't able to make it to nationals. We're just hoping that if we can win this video and win the award that we can fund more people that are in that situation."
Right now Mosinee High School is in the lead with 63 votes. Follow the link here to go to AbbyBank's Facebook page to support your school or vote for your favorite. You must like the AbbyBank page first in order to see and vote on the videos.
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