A student at Edgewood-Colesburg High School understands the purpose of budgeting, the strategies a family could use to manage a financial crisis in a medical emergency, and how to say it all in a 400 words or less.
Morgan Fannon, a junior at Ed-Co High School, received the Iowa’s Money Smart Kid 2016 award for her winning essay on managing a financial crisis. Morgan was honored at a presentation in the school’s gymnasium.
Students in 7th – 11th grade are eligible to enter the annual Money Smart Kid essay contest and compete for the chance to win $1,000 to help boost their college savings. The statewide essay contest is sponsored by the Iowa Bankers Association in partnership with the Federal Reserve Bank of Chicago, IL.
Fannon’s essay outlined several strategies a family might implement to manage a financial crisis, including defining a spending budget and following it strictly, avoiding unnecessary purchases or “wants,” and options to increase income, such as the possibility of working-age children in the family taking part-time jobs after school.
The student’s avid interest in business and marketing was fueled by numerous opportunities to earn college credit in the subjects, which is made possible through a concurrent enrollment agreement between Ed-Co and Northeast Iowa Community College (NICC). Fannon earned high school and college credit by completing Accounting I and II, Personal Finance, Principles of Marketing, and other courses.
Morgan Fannon is the daughter of Jim and Lori Fannon of Edgewood, and she has two half-brothers, Zack and Tyler.