Event aims to help make smarter consumers, investors

By Charles Menchaca
Wausau Daily Herald

Moderator Hugh Jones had not even finished reading a question about certificates of deposit when Wausau East High School senior Jamie Krueger hit her buzzer.

"The longer the term, the higher your interest rate," Jamie, 17, said, smiling after Jones told her it was the correct answer.

Jamie, along with about 30 students from Phillips, D.C. Everest Senior, Wausau East and Wausau West high schools, was competing Tuesday in the second annual Wausau Finance and Investment Challenge Bowl held at the University of Wisconsin Marathon County. Students leaned over their buzzers and nervously shook their legs as they answered multiple-choice and short-answer questions.

Organizers aimed to stress personal finance and investing concepts to students.

"In a difficult time economically, it's that much more important to have a grasp on how to spend their money wisely," said Richard Entenmann, executive director of Asset Builders of America, one of the organizers of the bowl. Financial education company Precision Information and the Get Smart Wausau Coalition of banks and community programs also organized the bowl.

Competitors said studying for the contest helped them think about how they can make smart spending choices.

Wausau East senior Gretchen Schumacher, 18, for example, said her personal-finance class has made her hesitant to sign up for a credit card because of the debt that can accumulate from late payments.

Tyler Ebert, 16, said the contest reinforced concepts of budgeting and liabilities, which he learned about in his accounting class.

The consequences of not knowing these topics is apparent -- just look at what happened to the economy last year, Tyler said.

"By having this information, we'll be able to make the right choices in the future," he said.

Students were eager to volunteer for the competition, said Ann Meronek, business and technology instructor at D.C. Everest Senior High School.

Meronek said she has long been a proponent of financial literacy. In 2007, she helped open a Brokaw Credit Union branch staffed by students at D.C. Everest.

Personal finance will be important in everything these students do, Meronek said.

Members of the first- place D.C. Evergreenbacks each took home a $50 VISA gift card and $100 savings bond. Second-place winners received $40 gift cards and all competitors got $25 gift cards.