We are excited to announce the March 2026 Financial Goals Scholarship winner is Maxwell! Congratulations!
"I am incredibly honored to be a selected recipient of this scholarship, and it will help immensely with my upcoming tuition finances. Additionally, this scholarship will enable me to pursue post-graduate education, and I could not be more grateful. A big thank you to everyone at 1st Financial Bank USA for giving me this opportunity, and I promise to make the most of it! - Maxwell D.
In a world where meals can be delivered using an app on your phone and entertainment is instantly accessible via streaming, practicing delayed gratification can be challenging. However, managing your finances responsibly often requires slowing down. In his essay, Maxwell shares the summer he sacrificed financially and how he puts patience and discipline into practice daily.
"Last summer I worked as a camp counselor, and my schedule consisted of an 8 hour shift with a 30 minute lunch break, from Monday to Friday. For 50 days in a row, I followed this schedule, and while my friends and coworkers went out to buy food during their break for $10-$15 each day, I stayed on site, quickly eating my homemade lunch and then clocking back in.
Some days, it was so hectic that a quick lunch was all I could make time for before I had to get back to my group. On others, it was really difficult to see my friends pile into a car, throwing around suggestions like Chipotle, Dunkin, or Chick-fil-a. I started to doubt if it was worth it, but decided to stay the course, if only to see how much money I could save. I kept telling myself that it was just for this summer, and if I wasn’t satisfied with the outcome, then I’d change my strategy for next year. Through perseverance, situational factors, and some great homemade sandwiches, I made it. During the 10 weeks that camp went for, the only time I ate anything other than my homemade lunch was when our director bought pizza for everyone on the final Friday of summer.
Over the 50 days, if we average my lunch savings per day at $12.50, I saved a grand total of $625. Initially, my sacrifice seemed productive, but not life-changing. However, with the help of my dad, I invested the money, along with $6,375 from my summer camp earnings, into a Roth IRA. After experimenting with a free Roth IRA calculator online, I determined that the $625 dollars I fought tooth and nail for is going to exponentially compound into $18,710 by the time I retire. Additionally, by making the deposit of $7,000 into the account, I maxed out the annual limit, setting a powerful starting amount for the compounding interest to work wonders on. If I left it at that, and never put anything else in, I would have $209,554 when I retire. However, by continuing to work hard and trying to save money wherever it’s logical, I plan to invest an annual amount of $2,000 or more until retirement. This level of commitment would net me over $1,000,000 when I retire, and that number especially puts into perspective how crucial it is that I start investing my money as early as possible.
Although the money I saved was a huge positive, the discipline, habits, and perspective that I gained will stick with me for life. They will shape my financial decisions in the future, which can already be seen in the homemade lunch ideas I’ve started to research for this summer. I am incredibly proud of myself for having the resolve to complete my goal, and learn in the process. Finally, I am so grateful that the experience taught me that saving money is almost always worth it.”
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.
