No Tinkers or Tailors…

But plenty of artists, and a farmer, veterinarian, teacher, hair stylist, singer, and at least one gym teacher.

These were among the responses from Kindergartners and First Graders when Jenny Kapsa asked them what they wanted to be when they grow up. [read more] Kapsa, Financial Education Coordinator for RCPS, and program assistant Lacey Jenkins led the students in celebrating the beginning of year two of MyFuture, the schools’ long-term plan to prepare students for college and careers.

Kindergartners received piggy banks stuffed with $100 bills, but the real money is in the bank. FamilyFutures, a local nonprofit focused on advancing life skills through financial education, has opened new savings accounts for all the Kindergartners. Most of the First Graders got their accounts in January. In total, they have more than $9700. Those new to RCES this fall also got new accounts. Both classes received their actual statements from Oak View National Bank, where the custodial accounts are held. Students can earn up to $100 more each year through graduation. The older students had earned additional deposits, mostly through home activities after schools closed in the spring.

And what will the students do with the savings when they graduate? Their plans will change, of course, but right now they are thinking of using the $1400 they could accumulate for cars, toys,  a purse—where else would you keep your money? Some were thinking really big: “I’ll buy a bank,” or a “house for mom and dad.”

The first graders already had an idea of the value of saving. One said, “When you save, you get richer and have more money.” Others knew their math and quickly calculated how much they’d have at the end of this year, up to $300 each.

“Thinking about the future and developing both financial knowledge and personal skills in goal setting and decision making is the underlying purpose for the accounts,” said Mary Anne Biggs, FamilyFutures board member. “The savings accounts are a tool. The students will have many opportunities to grow their skills as they move through school to graduation.” Biggs and board member Debbie Massie attended the celebrations.

Kapsa and Jenkins held the celebrations over two days, in small groups outside, which allowed the students to social distance easily. Lined up on chalk rainbows, they did their “airplanes,” holding their arms out to be sure they were six feet apart. They and their teachers wore masks, as did Kapsa and Jenkins.

At the end of the school day, the students took home goody bags containing the bank statements, candy, information about MyFuture, and a book to read with their parents, “Just Shopping with Mom.” The Rappahannock County Public Library donated the books.

FamilyFutures has received generous funding for the accounts from the Headwaters Educational Foundation and many individuals in the Rappahannock community. Other foundations and individuals are also supporting financial education and one-on-one financial coaching for parents and other adults. For more information: director@familyfuturesva.org.

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