MyFuture.com // Flickr

 Chances are most of the KIT listening audience never received much in the way of  formal money management education.  It was left up to parents to share life lessons dealing with money.  Maybe you got the mythical "dollar allowance breakdown" of setting aside 10 cents for the church, 15 cents for savings, 25 cents for necessities, blah, blah, blah....and maybe you didn't!      

The bottom line is most of us are pretty lousy at money management.  An article in Marketwatch from a couple years ago titled Five Facts That Americans Are Horrendous At Managing Money makes a pretty good case for the need of more and better education!

Right on cue comes Yakima Federal Savings and Loan and its "Lights, Camera, Save!" video contest.  In a news release Yakima Federal explains the contest is aimed at teens and submission are being solicited now.  "The contest, organized by the American Bankers Association Foundation, is a national competition that encourages teens to use video to communicate the value of sound money management and set their peers on a sound financial path. "

Kids teaching kids - good idea. Peer presentations are likely to get through to other teens more effectively than what might be seen as preaching by stuffy old banker types.

 "A strong financial education is critical to a successful future and we are thrilled to participate in a contest that reinforces that message.”, says Leanne Antonio, President and CEO of Yakima Federal Savings and Loan.

Here's how your child or grandkids can get involved: Students (ages 13-18) need to  create a video, 30-seconds or less, on using money wisely and submit a link to the video along with a completed entry form to the bank by March 1. The contest is open to teen filmmakers of all experience levels, ultimately competing for national cash prizes of $5,000 for first place, $2,000 for second place and $1,000 for the third and fourth place.

 Videos will be judged on their quality, message, content and the criteria set forth by the contest's official rules. To learn more about Lights, Camera, Save!, visit lightscamerasave.com.