Hersh Edelman Announces Its Spring 2011 Financial Literacy Student Contest

Online, January 10, 2011 (Newswire.com) - Hersh Edelman today announced the opening of its Spring 2011 Financial Literacy Student Contest "You're a Millionaire!"
Finances students will be competing to win cash prizes of up to 5,300 HKD by submitting an essay, poster, or short video on the topic "Based upon the lessons you have learned in finances, how would you use 1 million dollars?" Students will be judged on their use of strategic financial planning, the rationale supporting their decisions, and the creativity of their submissions.
High school students currently enrolled in Life Finances may submit entries to the Spring 2011 Financial Literacy "You're a Millionaire!" Contest by submitting a 2-4 minute video, a 350-word essay, or a poster. Student submissions should be sent to [email protected] by Friday, February 18, 2011.
Winning entries will receive a 3,500 HKD prize and will be featured on the Hersh Edelman website. Entries must be received by February 18.
1st Place: 3,500 HKD
2nd Place: 2,000 HKD
3rd Place: 1,000 HKD
4th Place: 500 HKD
"This contest gives our teachers and students another opportunity to work with the key lessons and principles of the Life Finances course," said Karl Samson, Educational Consultant at Hersh Edelman.
Students are encouraged to think through the real-life impact of their theoretical windfall. Taxes on the "free" money, the cost of insuring expensive purchases, and even having bank account balances above insured limits are all potential factors that could be considered in planning an asset management strategy.
The Spring 2010 Financial Literacy Contest winner, A.M. Wang, was awarded the top prize by submitting an exceptional essay on the "Benefits and Pitfalls of the Double-edged Sword of Debt."
With a rapidly expanding student user base for its finances course, Hersh Edelman expects a significant increase in the number of contest entries. Hersh Edelman is also running a similar contest for college students who are taking the finances personal financial course through one of the company's partner institutions. The professors in charge of those courses have been notified of the contest, and interested college students should check with their instructors.