Value of Personal Responsibility in 2014

Each student was handed a gift envelope in show of our appreciation for their work and commitment to the Youth Advisory Board.   The fact that it was a “money” envelope I assumed indicated “Value”. However, as we left the restaurant, not one… but four (4) envelopes were left on the table.  As I picked up the unopened envelopes my first reaction was aggravation and the overwhelming feeling of the lack of appreciation. These are high school students for heaven sakes. What was more shocking was the fact that only one of the four actually came back for the envelope/gift.

Was it that these students didn’t “need” or want the money?  No, I know these kids.   So what would cause them to simply walk away and leave money on the table?

After having watched these students for the past four years, I realized I had failed them by not allowing them to take personal responsibility. You see, I picked up the envelopes and told each one they had indeed left the envelope and then “re-gifted them.” What did that teach them?  Something they already knew…someone else would take care of them.

However, for many of these students 2014 brings a whole new chapter in life.  Many will leave for college, begin careers and some have even plains to join the military and personal responsibility will take on a whole new meaning.

They say precious life’s lessons can only be learned the hard way…let’s just hope they don’t leave too much on the table.

Little Messes

Blog:

Our office recently had the privilege of a visit from the local school children. These sweet little faces gleamed as they sang Christmas carols to the staff, parents and those that simply stopped to enjoy.  As the students were singing, I noticed a teacher leading a sweet little girl by the hand outside and in tow was a sweet little boy. I watched as the teacher smiled and said to the little boy, you want to come too?  With that the little fellow nodded his head. Nothing seemed out of the ordinary, just a moment of compassion between a teacher and her students.

As the students left, I also noticed a colleague of mine carrying a mop. Again, nothing was said, just a smile.    However, it was sometime later that I learned what had brought each of them to that moment when their lives took on a deeper appreciation.  You see the sweet little kindergarten girl had a bit of a mishap, the little boy felt compassion, the kind teacher not wanting to draw attention lead both outside, and the coworker saw a need and did what had to be done.  The beauty of it all was that very few even realized what had happened.  Most just smiled and enjoyed the music.

And so it is with life.  Many just sit back, smile and enjoy the music while some, simply do what has to be done to make a difference.  It also reminded me that none of us can succeed without the ones in our lives that help us “clean up our little messes” and for that I am so thankful and feel very blessed.

 

Merry Christmas!

What Have We Created?

As I stood before a classroom of seniors teaching basic budgeting, I began with “tell me what your goals and dreams are after graduation”.  Of course many said, “I plan to go to college”.   But then what proceeded over the next   45 minutes was an eye opener.

Where would you like to attend college I asked? With no surprise “Georgia” was shouted by a few. Then as I began to lead them through a basic budgeting exercise, several looked at me like a deer in the headlights. My questions concerning how they would pay for simple things like rent and utilities took them by surprise.  After more conversation, many had no idea how much it cost to rent a place to live, hadn’t even thought about budgeting for things like gas, insurance, food, clothes or even “eating out”.  It then occurred to me that many of these students had probably never even thought about how their college education would be funded.  Most have never had a job, or even had the conversation about how much a loaf of bread cost. However, one student shared that she had indeed already had a credit issue due to not paying a cell phone bill…but that “no one told her it would affect her credit”.

I have wrestled with this over and over in my mind.  What have we created? This generation knows no limits when it comes to technology. They are tech-savvy individuals, especially when it comes to social networking.  They are a generation of “multi-taskers” that can effectively listen to music while taking a calculus test and chew gum at the same time.  

But do they know the cost of a loaf of bread and does it matter? As I am writing this blog, one student walks in the bank and I say, “How much does a loaf of bread cost?”  To which he replies, $1 something right…I really don’t know!

OK, can’t let this one go….let’s ask every young person we know, “Do you know how much a loaf of bread cost?”  I’ll let you know my results, if you let me know yours!

Class Ring Almost 40 Years Later

Ok…this one got to my heart.  I actually was speaking to two students in my office after hours about basic banking 101 when an employee came to my office and said, “there is a student and his grandmother standing outside and wants to see you”.  Obviously it was already after hours, the door was locked and I was still with someone.  The look on my face told a story I am a little ashamed of now.

However, if you know me I politely excused myself and asked if I could speak with the student.  As I walked to the door I was immediately greeted with a smile and a proud look of accomplishment. This student had designed his own high school graduation ring and had saved up the money to purchase it himself.  But there was more.  With a smile on his face he then presented me with a second piece of paper.  He introduced me to his grandmother and said, “Grandma this is the lady that helps us”.  He then continued with, “ Mrs. Lorenda I also designed my grandmother a High School Graduation ring”.  She smiled and said, “40 years later but I am getting a ring too!”  I looked down at the paper and proudly on the ring design it had “Class of 1977” and her name. My face then told the story I am telling you.  I hugged the young man and congratulated his grandmother and told them both how proud I was for them.

With my head hung down, I went back to my office feeling a little embarrassed by my previous action.  What if I would not have gone? Would his excitement have been squelched because of my action?   It was obvious I didn’t want to take that extra time or energy to go and see what that young man needed. But… oh how thankful I was that I had taken the time!   I immediately told those in my office what had happened and how proud he was of himself.  They then shared in his joy.  I also decided I myself had learned a lesson.  Not only is it never too late to fulfill your dreams and help others along the way. But WOW what we miss out on…when we don’t open the door to others!

Practicing What I Preach

Teaching financial responsibility is not easy and practicing it sometimes gets even harder.  As a mentor, a banker and instructor my goal is to equip each student with the knowledge to live a productive financially sound life. My teaching lessons frequently involve the conversation of learning “wants” vs “needs”.

This week I have been faced with the challenges I speak to them about frequently.  You see, making financially sounds decisions for the lady that now has added 120+ students to her extended  “children’s” list sometimes gets tough.

I have been inundated recently with request to purchase everything from barbeque plates and donuts to raffle tickets and senior ads just to mention a few. While each of “my children” has a special place in my heart, I am not a wealthy person. It also dawned on me that ALL of them will graduate in nine short months and I can only assume I will receive numerous graduation invitations.  WOW…didn’t think of that 4 years ago!

I then took a deep breath and simply said, practice what you preach.  I decided that giving each of them a little something from me is the only option.  I believe it is not a matter of just want with me.  I feel I need to do this to show them how proud I am of their accomplishments and acknowledge their success.   However, knowing that I have to live within my means is a fact.  So, I began this week setting aside a couple extra dollars. I also began researching things I could make instead of purchasing hoping to cut my cost. Remember, planning for large expenses is the key.

I also have decided my next lesson will remind them of my mama’s favorite saying…”it’s the thought that counts”.

Lesson Learned From Working In A Field

Did you know that becoming a senior is expensive?  Really, I said! My senior pictures, my invitations, my senior dues, gas in my car, senior trip, then there’s prom and the list goes on.

Two young men from our adopted class of 2014 approached my office with this very statement this summer.  Followed by, “I can’t find a summer job”!  However, the conversation soon changed when one of the guys stated that his uncle had asked him about working with him in his field to make some extra money to which the other young man stated, “I don’t want to do that” I then shared with the guys that I had indeed done that very same thing one summer while in High School.  Yes, it was hard work and “very hot” I stated…but I made some money and for that I was proud.  I also shared with them that I worked in a sewing factor one summer as well and definitely decided that was not where I wanted to spend my working career. However, it was honest work, provided me some money to pay for things I wanted my senior year and gave me a sense of pride. It also taught me a valuable lesson...I knew that was not the career choice for me.

 

Within a couple of day, the two “seniors” came back to my office proclaiming they had “worked in the field” and made some money.  Enough to help pay for “senior” pictures to be exact!  Although both recognized this was not the “career” for them, to which I stated “good make sure you continue your education” they both stated they were planning to go again and make some more money before school started back.

Those two young men received the proofs from their senior pictures this week. The pictures they had worked for. The pictures with delightful faces that told the story of accomplishments and dreams!

Senior Year!

In August, 2010 one hundred thirty 8th grade students walked through the doors of a brand new Pelham High School with hopes and dreams of being the first class to graduate at the new high school.  They also had knowledge of the fact that statistics showed that an estimated 40% of them would not graduate. But, what the statistics didn’t take into account was the power of relationships and the commitment from their partner in education, Pelham Banking Company. In conjunction with its 100th anniversary, Pelham Banking Company committed to offer financial education and promised $100 in cash to each student when he/she walks across the stage.  

For the past three years, employees of Pelham Banking Company have written personal notes of encouragement, sent birthday cards, held pizza parties, and taught them basic life and money skills. These extra special young people are now seniors!

For the next 12 months, this blog will journal through their senior year. We will share their hopes and dreams for the future. We will also explore the impact that basic financial education and having a partner in education has play in determining the decisions they make.  And yes, what they will do with the $100.

 

What if your credit was a snapshot of your character?

I pride myself in trying to make sure those things I do represent my ethical and moral character. I recently have been shaken by what seems to be a lack of this same principal in leadership whether it is in politics, churches, schools or homes.

Lately, the issue with me as a banker has been poor credit. Now, I realize that a credit report doesn’t always reveal the “true character” of a person. Circumstances such as loss of a job or a catastrophic illness can definitely have an impact. However, I am talking about simply the character of doing what you promise you will do. 

As part of my financial education class, I often compare credit with character. I simply ask my students to define good character.  Many times they will say, “Keeping a promise or doing what is right” to which I say, “you are exactly right”. I then say when you make a loan you sign what in the “banking world” is called a Promissory Note or a promise to pay it back. And guess what? THEY GET IT!   A few weeks ago, I witnessed a young person being turned down for a loan.  No, he didn’t have tons of medical bills; he was not married with small children. He was just out of high school and his credit report simply showed a rather large charged-off cell phone bill.

Now…what if your credit score was a snapshot of your character?  I recently read something that said, to our kids, the world is a place of moral clarity and their parents are their moral heroes. Don’t we teach our kids to keep a promise?  Of course we do! Why not take the opportunity to teach them how important your credit is as well?

Just my thoughts!

Veggie Lesson

Veggie Lesson

Don’t you just love this time of the year when all the fresh veggies are available? I recently visited Pelham City Middle School and noticed beautiful plants growing outside the walkway leading to the cafeteria.  I couldn’t help but inquire and was told they were compliments of the Middle School Agriculture Class (Thank you Mr. Sealy). It also got me thinking what a great opportunity this time of the year is to teach our children or grandchildren about the importance of our local farmers and of course a great way to incorporate financial education.

Growing up a city girl, I never had the opportunity to plant a garden. My parents did on occasion go to the local farmers market. However, I’m sure I had no realization of how those veggies got to the market.  I just knew they tasted great.

Did you know there were more than 7,800 recorded farmers markets in 2012 and that more than 3 million consumers shop and more than 70,000 farmers sell at these markets each year? The United States Department of Agriculture estimates that these markets generate an estimated $1.5 billion in consumer spending annually.

So, why not take time to share with your children the process. Explain that farmers earn fair prices for the fruits of their labor by selling their veggies. As you struggle to get them to eat their veggies share with them that we the consumers enjoy the fresh, nutritious and wonderful veggies at a fair price. Allow them to go with you, pick out their favorite veggies and pay for it.

Don’t forget to let me know how it goes AND save some spinach for the rest of us!

Love A Lemonade Stand!

Do you remember setting up a lemonade stand as a kid?  Who knew that something so simple was teaching me about profit and expense?

Our lemonade stand was extra special.  I knew that my mother gave my sister and me the lemons and sugar. I knew we purchased the cups and the poster board to make the sign. I also remember the neighbor allowing us to borrow her folding table. But I never realized I was receiving “Financial Education” during this fun time in my childhood.  What we did realize was that we made some money! We also learned quickly how fast the money could go when spent on the candy we bought with our profits. (We didn’t quite get the “save some for a rainy day” back then).

My Life was Enhanced Financially Through Education (LEFTe) and I had fun doing it.

Each year over 10,000 bankers across the country, including myself, dedicate hundreds of volunteer hours to their local communities via Teach Children to Save Day in April by using simple hands on teaching techniques as simple as a Lemonade Stand.

Why not show your own children or grandchildren this simple fun activity?

Besides…who doesn’t love a cold glass of lemonade on a Warm Southern Day!     

Mother Knows Best

My mother always said, "if your left hand itches, it means that you will receive money". Although I do not typically believe in old wise tales, I must admit I did receive an unexpected check in the mail one time after an episode with my left hand itching for days.

However, over 30 years in banking and as a strong proponent of public education, I am more of a firm believer that a little education goes a long way. I believe that your Life will be Enhanced Through Financial Education.  AND so the LEFTe project begins!