Western New York high school students prove their money skills

By Matthew Biddle

BUFFALO, N.Y. — Students from Cleveland Hill, Fredonia and Orchard Park schools bested more than 900 high school students from across Western New York in the ninth annual MoneySKILL® Mania competition, an in-school financial literacy challenge sponsored by the University at Buffalo School of Management and M&T Bank.

Joseph Bienas, a senior at Cleveland Hill High School, won an Apple iPad as the top-scoring student from all schools.

Morgan Dispense, a senior at Fredonia Central School, and Karina Kuchumov, a senior at Orchard Park High, took second and third place respectively and won $250 for college savings.

In total, 33 teachers registered their students for MoneySKILL Mania this year, testing their knowledge of such basic financial concepts as income, savings, budgeting and credit.

Teachers for the top three students each received a $100 UB Center for the Arts gift certificate. The winning educators were Robert Haley of Cleveland Hill, Laura DePue of Fredonia and Jim Agnew of Orchard Park.

In addition, the top student from each participating school won a $50 Amazon gift card.

The competition tests skills that students learn through the MoneySKILL program, a free, online personal finance curriculum designed by Lewis Mandell, professor emeritus of finance in the UB School of Management, for the American Financial Services Association (AFSA) Education Foundation. Through interactive, self-directed modules, MoneySKILL teaches students about tracking and budgeting expenses, maintaining a checking account, buying a vehicle or home, and more.

This year marks 10 years of partnership between M&T Bank and the UB School of Management to bring MoneySKILL to Western New York youth through teacher training, outreach and the competition. Since 2006, more than 20,000 area students have participated in MoneySKILL in public, private and charter schools, as well as career and technical centers.

“A strong foundation of money management skills is important for all of us, especially young people who are transitioning into college, the military or the workforce,” says Cynthia Shore, senior assistant dean and director of alumni engagement and external relations in the UB School of Management. “This year, we’re celebrating the accomplishments of our winners—and the thousands of students who are better prepared for the future thanks to this great program.”

M&T is a financial holding company headquartered in Buffalo. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.