East Ridge High School student Maddison Alterio (2nd from right) and school counselor Hester Buie (center) receive recognition for participation in the Chamber of Commerce’s Who Wants to Be a Millionaire program. Also pictured are Zac Brown (on left) East Ridge principal, June Puett (2nd from left), University of Tennessee Extension and Michael Colquitt (on right) from Suntrust Bank.
East Ridge High School’s Maddison Alterio learned that she can’t keep blowing money if she wants to achieve her goals. Maddison, known as Maddie to her friends, is one of 1,554 local students who learned how to manage their current and potential earnings in the Chattanooga Chamber of Commerce Who Wants to be a Millionaire program. June Puett with University of Tennessee Extension coordinates the program which is implemented by a team of community partners.
According to Ms. Puett, 24 community members helped team teach financial skills in fifteen Hamilton County high schools this year. Chamber volunteers work with school counselors to integrate the program into the school schedule. East Ridge counselor Hester Buie said, “These programs benefit all students and makes them aware of the reality of earning a living and raising a family.”
Students learn the relationship between education and potential earnings, how to effectively use credit, as well as the negative import of credit misuse. Ms. Puett says the program in its seventh year is working. Ninety- four percent of the participating students set a savings goal during the class. In a follow-up survey, 73% say they actually saved money and reported saving an average of $176 dollars a month. ‘We hope they keep these savings habits through their teens years and into adulthood,” said Ms. Puett.
Maddie said she works hard to manage her income from a part time job, by buying only necessities instead of things she would like to have. “I hope to go to college and save my money for bigger and better things,” she said.
Organizers keep the program current by using technology and incorporating current financial issues such as banking fees and high cost college loans. Millionaire team member, Matt Wiseman of AXA Financial, set up and monitored a Facebook page for students to post their own money saving advice. Business partners who provided incentives included Suntrust Bank, Dupont Community Credit Union, Raymond James, Chattanooga Chamber, First Tennessee and Tennessee Valley Federal Credit Union.
The Millionaire program is recruiting new volunteers to assist with the program. Contact Ms. Puett at 855-6113 for more information.