Win a $5,000 scholarship from Money Smart Week and the Federal Reserve in Chicago

Lots of kids are great at spending money (especially their parents’), but the Federal Reserve Bank of Chicago is looking for one kid who knows how to both spend and save and isn’t afraid of sharing what they know. So the hunt is on for the 2011 Money Smart Kid.

The lucky kid will receive a $5,000 scholarship and the chance to spend the year as Chicago ‘s financial literacy ambassador.

Read about Jackson Beard, the 2010 Money Smart Kid

In addition to writing a winning essay of 300 words or less, kids must be in grades 5-8, have proven money management skills, be articulate and able to speak in front of large groups and cameras and live the greater Chicago area. The question being posed in the essay: You have been asked to give your class a short lesson on the importance of financial literacy. What would you say and why?

Six finalists will be selected to attend the Money Smart Kick-off breakfast April 4 and one student will be named Money Smart Kid. The runner-up will receive a $2,500 savings bond.

Money Smart Week in Chicago is April 2-9.

For more information and an application packet, visitmoneysmartweek.org. Entries must be postmarked by Feb. 25.

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