In recognition of Financial Literacy Month, Gov. Andy Beshear encouraged Kentuckians to commit to smart saving habits and marked the occasion with a financial literacy event in the Capitol Rotunda, where student winners were recognized for their entries in the Kentucky Cooperative Extension Service’s (KCES) annual Piggy Bank Design Contest.
Among those winners was 4th grader Jovie Polatka, a Campbell County 4-H’er.
“Team Kentucky is building a brighter future for everyone, especially our kids. That future starts with the choices we make today. Developing healthy financial habits early, such as starting a savings fund, builds confidence and helps kids begin to take charge of their financial future,” said Gov. Beshear.
Symbolizing that it’s never too early to start saving, students across the Commonwealth created piggy banks out of household items and crafts. Winning banks were styled as a cabin made of natural resources, a slice of cake, and various animals. Kelly May, Senior Extension Associate with KCES, recognized the following winners:
• Trace Thompson – 2nd grade (Meade Co.)
• Elizabeth Bullock – 3rd grade (Edmonson Co.)
• Grayson Haley – 3rd grade (Todd Co.)
• Sara Kramer – 3rd grade (Oldham Co.)
• Isaiah Cunningham – 4th grade (Carlisle Co.)
• Jovie Polatka – 4th grade (Campbell Co.)
• Dakota Milby – 6th grade (Green Co.)
• Mike Williams – 6th grade (Mercer Co.)
• Addison Cornett – 8th grade (Clay Co.)
• Shelby Caswell – 9th grade (Nicholas Co.)
• Sophia Strickland – 12th grade (Greenup Co.)
The winning piggy banks are on display in the Capitol Rotunda for the remainder of April. Event photos are also available on the Department of Financial Institutions (DFI) Facebook page.
Representatives from DFI were in attendance on behalf of Team Kentucky, including Commissioner Marni Rock Gibson, who expressed the importance of setting healthy savings habits from an early age: “One of the smartest choices you can make is to commit to saving. Building a savings habit can help you navigate significant life events and unexpected emergencies. It’s never too early, or too late, to start saving.”
Keynote speaker Seema Sheth, senior vice president and regional executive of the Federal Reserve Bank of St. Louis’ Louisville Branch, drew on her background of teaching finance basics to young adults to reach the students in attendance. She discussed how easy it can be, regardless of specific financial goals, to save automatically. This is a process of saving at regular intervals through automatic deposits or transfers.
“There is an ever-growing list of things that you need to save for. Making saving automatic at least takes the thinking out of the equation, and you don’t have to do that by yourself. You can ask for help from a financial institution like a bank or credit union,” said Sheth. “They have tools that they’ve designed that can help you automate savings and make saving easier.”
Kentuckians can take the Kentucky Saves Pledge at kentuckysaves.org, a site which offers free financial education and community support. Consumers can also access important financial information and resources on DFI’s Investor Resources page.