We are excited to announce the December 2022 Financial Goals Scholarship winner is Jarred! Congratulations!
"I am honored to have been selected for this scholarship and grateful to 1st Financial Bank for helping me to fulfill my academic goals. I’m grateful for each opportunity that I have to learn about financial responsibility, and I’m thankful for the resources that 1 Financial Bank USA provides in order to help students be more financially aware and self-sufficient. I hope that others will be able to learn more like I have and be able to fulfill their academic and financial goals." - Jarred B.
Setting and achieving financial goals as a student can kick-start good money habits that will carry into your life post-graduation. Whether you’ve saved money to pay for college, opened a credit card to build credit, or eliminated a poor spending habit, your financial wins are worth celebrating—no matter the size. Jarred shares his most significant financial achievement so far in life and the steps he took to accomplish it.
"It all started with the tooth fairy. As a five year old, finding a whole $1 bill under my pillow was a big affair, and all I had to do was wiggle my tooth enough until it popped right out. That seemed to me like a good return on investment. For the first couple years of my life, the tooth fairy and birthday checks from Grandma were my primary sources of income. But I was not allowed to spend all of it. Part of the deal with Grandma was that a little bit of that money had to be tucked away for college.
As my supply of loose teeth decreased, I moved on to small jobs for neighbors or friends of my parents: cleaning cars, babysitting, mowing lawns, just about anything. Earning money was nice, but it was also a responsibility. I was reminded of it each time I went to the store with my parents and asked them to buy something. They would smile and say, “You have money. If you want it, you can decide to pay for it.” Buying was much less fun when the money came out of my penny jar. But it was an important lesson that they taught me, and I began to prioritize saving.
I lived in an area where the fruit industry was very prominent, and in high school, I worked at a tree nursery during the summer to continue saving for college. We started early in the morning, sometimes at 5 am, and did an assortment of tasks. I learned how to paint, harvest fruit, and work hard. But more than anything, I grew my appreciation of the money I earned and learned to be more financially responsible. Just as Grandma and my parents had taught me, I kept saving part of that money for college. As a highschooler, it was easy to want to spend that money because I had few expenses. But the advice from my parents and grandma would always come to my mind: save for college.
After I began to earn more money, I researched different savings accounts and opened one that would help me receive more interest on my college savings. In Boy Scouts, I learned to make a budget, and my dad helped me to make a spreadsheet to track my spending. These skills kept me focused on my goal of saving for college.
All of these experiences made me more aware of my financial decisions and made me want to save. When I went out with friends in high school, I became more conscious of my purchases and learned how to skip out on buying something to stay within my budget. All these experiences helped me acquire the skills necessary to save in order to achieve my financial goals and be prepared for college. I can now use these savings as I attend college, putting to use my greatest financial achievement.”
Established in the year 1910, 1st Financial Bank USA (1FBUSA) provides quality community banking services in South Dakota, credit card and other financial services to college students and college graduates, and construction lending to builders, developers, and investors from coast to coast. 1FBUSA will award a $2,000 scholarship to a new winner each month. View full rules and eligibility at 1fbusascholarship.com.