My Saving Plan

Results for School Year 2003/2004

One student each from Northboro and Shrewsbury were selected by Education for Economic Security, Inc (EES, Inc.) to receive $1000 Grand Award for their entry into the My Savings Plan competition. All entries in this competition received compensation for their proposals at the sole discretion of EES, Inc. This included Tshirts and a grand pizza party provided by one of our teachers, Greg Mangan of Edward Jones.The funds for the Grand Award for school year 2003 – 2004 were be provided by Central One Federal Credit Union and were placed in a custodial account until the selected student reaches 18. The winners for 2003 - 2004 are shown at the right with their checks. For information on this program for 2004 - 2005, please contact Central One Federal Credit Union.

The funds are taxable compensation for work done. Each student is fully responsible for all taxes due. Because this is earned and taxed income, it may be eligible to fund a Roth IRA at age 18. It is our hope that these funds will be used for that purpose. Our announcement date was October 15, 2004.

COMPETITION RULES

Entries must be submitted via Email to MSP@KidsFutureUSA.org. All entries, updates, additions and documentation must have the student’s name, address, telephone number and Email address (if possible). EES, Inc, is not responsible for any entries submitted unless confirmed by EES, Inc. EES, Inc. may reject any entry or information for any reason they see fit. There will be no notification of rejection sent to students. All material submitted will become the property of EES, Inc. to be used on the KidsFutureUSA.org website and in any other way seen fit by EES, Inc.

ELIGIBILITY
Members of EES, Inc. and their families are not eligible for this competition. Members of Central One Federal Credit Union and their families are not eligible for this competition. Only students that have attended So Who Wants to be a Millionaire? program during the 2003-2004 school year may enter the contest. Only students attending schools in the towns of Westboro, Marlboro, Northboro and Shrewsbury may enter.

Entries need to have several parts:

• A statement of a plan to earn money. Gift income is not acceptable; it must be earned income from some type of work.
• A declaration of the savings held prior to beginning the program. (It is assumed that many students will have NO SAVINGS at that point and an answer indicating such is totally acceptable.)
• A stated goal for savings by October 1, 2004 and a realistic budget.
• UPDATES WILL BE REQUIRED
• Changes in Plans
• Success stories
• Problems or New opportunities
• Progress towards the stated goals

As the student’s plan to earn money is initially structured, it is likely that the plan will not work as hoped and changes will be in order. EES, Inc. looks forward to seeing updates and changes as they are a clear indication of the learning process. The key Updates will be success stories. We want to hear how the process goes. We want to know about: failures, corrections, new opportunities found.

A key part of the updates will be the amount of money saved. It is expected that the students will use the Savings Makes Cents program sponsored by Westborough Bank as their vehicle for savings, but other savings programs can be considered. All applicants will need to provide documentation of savings to be considered for the $1000 award. A Savings Makes Cents pass book will be an easy way to meet this requirement.

The last date for updates will be October 1, 2004. Continued updates will be welcome but not be considered for the My Savings Plan program or awards.

The winner will be picked by EES, Inc. as the student that best puts into action the lessons of So Who Wants to be a Millionaire? EES, Inc.’s decisions will be final. The winner’s entry and updates will not be available to the public identified as the winning entry.

Parental Involvement
While EES, Inc encourages parents to be involved with all aspects of their child’s learning, it is our wish that the “My Saving Plan” program be done by the students with minimal parental involvement. Should EES, Inc. feel that the Entry and Updates are done with excessive parental involvement, that entry will be disqualified.

EES, Inc. reserves the right to suspend or cancel the My Savings Plan program without notice to contest entrants. EES, Inc. is not responsible for technical or equipment failures such as telephone network lines failing, computer online systems failing, servers and/or provider services go down, or human error in connection with the sweepstakes, etc. EES, Inc may disqualify or prohibit entrants from participating in the sweepstakes for any reason at EES, Inc's discretion and without notice.

Examples  Please click here