Two of a three part series.

OneUnited Bank announced its I Got Bank 3rd Annual Essay Contest winners on August 7, 2013. The contest is designed to promote financial literacy for youth (ages 8 – 12). The winning essays are fabulous. We think you will agree.

Here is one of the three winning essays:

Bobby Flennoy

Fort Worth,TX

Age 11

WHAT I HAVE LEARNED FROM READING “THE EVERYTHING KIDS’ MONEY BOOK” by Diane Mayrs

“The Everything Kids’ Money Book” is a book explaining in kid’s terms about saving and investing money. The essay will focus on some tips when it comes to banking, such as having a savings account and drawing interest. In reading this book, I found some important things a kid should know about money.

There were many words I did not know when it came to banking. I learned that banks have been around almost as long as there has been money. So banks are important to have.

One of the many words that were new to me was investing. Now I know that investing is spending money to make more money. I also learned about the importance of having a savings account. A savings account pays interest on your money, meaning my money grows!

If I open up a savings account I will develop a saving habit, this is important because I learned that the United States is one of the worst countries when it comes to saving money.

In conclusion, money is a protection and by being smart and saving my money, I can have a good chance to have the money I need when I get older. This way I will be able to take care of my family without struggling.

One of the best ways to do this is by opening a savings account now while I am young and to let my money grow interest. I’ve learned many things.