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Thursday, Dec. 1, 2011 Volume 30 Issue 3
inside the RP Cheating at HHS - C-Spread Boys, girls basketball preview - Sports Meuwissen dances through life - Feature Importance of college readiness - Opinion Superintendent Schultz addresses District issues - News A look at Deeply Royal - Variety
Rep. Ellison talks financial literacy
Photos by Mike Newcomer
Left: Rep. Ellison talks to students in the HHS auditorium about the economy and financial literacy. Top right: Seth Gellman, senior, and Chandler Luhowskyj, junior, introduce Rep. Ellison. Bottom right: School board members (left to right) Yvonne Selcer, Betsy Scheurer, and Wendy Donovan enjoy Ellison and Bridges’ presentation.
Rep. Keith Ellison was brought to HHS by the ‘Your Money Your Life’ project Ryan Levi Editor-in-Chief With American and global economies struggling and unemployment on the rise, financial literacy has become an important tool for students looking to succeed after high school. Last week, many students at HHS received a crash course in the importance of financial literacy from an unlikely teacher. Rep. Keith Ellison, who represents Minnesota’s 5th Congressional District, and Ms. Dorothy Bridges, Senior Vice President of the Federal Reserve Bank in Minneapolis, spoke in front of a packed auditorium on Monday, Nov. 21 about how high school students can become knowledgeable about the financial world.
The event was set up by Seth Gellman, senior, and Chandler Luhowskyj, junior, leaders of Hopkins’ DECA “Your Money Your Life” group, as a part of Hopkins Financial Literacy Month. “We thought it was important to have two people like Congressman Ellison and Ms. Bridges, two leaders in the community, come talk to kids about the importance of financial literacy,” Gellman said. They first reached out to Ellison and Bridges in August and maintained in contact through the following months to secure and publicize the event. “[Ellison and Bridges] thought it was a great project and wanted to be a part of it,” Gellman said. Ellison spoke to students about how to effectively manage their money, often using call and response to have the students repeat important words or phrases. He spoke at length about the importance of students creating a budget for themselves and sticking to it. “The best thing you can do for yourself is to prepare yourself a budget,” he said. He urged students to avoid “impulse purchases” and not to buy things they don’t need to impress their friends. He also warned students about the dangers of buying on credit and accumulating debt, encouraging students not to get a credit card until
they are 25. Ellison, a member of the House Financial Services Committee, touted legislation passed by Congress to raise the minimum age to apply for a credit card without parental backing from 18 to 21. Ellison did make a distinction to the students between good debt and bad debt. “Bad debt is when you make an impulse buy, something you don’t really need...and you cannot pay for it at the end of the month,” ELLISON continued on page 4
Who is Keith Ellison? -Born August 4, 1963 in Detroit, Michigan -Has lived in Minnesota since 1987 -Served in Minnesota state House of Representatives, 2003-2007 -Serves in U.S. House of Representatives, 2007-Present -First Muslim U.S. Representative -On the House Financial Services Committee and Democratic Steering and Policy Committee -Co-chair of Congressional Progressive Caucus