This week’s installment of the Rich College Student series is probably a step that will have the biggest impact on being responsible with finances while in school. The best way to succeed is to come to college with the financial skills and knowledge already in practice. Unfortunately that isn’t as common as one might think.

Financial Literacy Challenge

After reading Flexo’s post about this project and reading an article in the local newspaper, I decided to undergo the Green Panda Treehouse Challenge. (Alright, it’s not too original, but read on, it gets better.) I’m going through the pfblog.org’s Financial Literacy Challenge site.

This week the money I save by not eating out for lunch will be donated to a charity listed on DonorsChoose.org.

The Project I’m supporting is Future Philanthropists in Training. I can’t fulfill this class’s program by myself with my budget, but I want to give something towards a good cause. If you want to join me please go write ahead. If you have another worthy cause you’re saving up for, then by all means to do that. Leave a comment about what you plan to do with your money saved this week.

Donors Choose-  A Charity Worth Considering

How does this program work? I’ll let the site explain:

DonorsChoose.org is a simple way to provide students in need with resources that our public schools often lack. At this not-for-profit web site, teachers submit project proposals for materials or experiences their students need to learn. These ideas become classroom reality when concerned individuals, whom we call Citizen Philanthropists, choose projects to fund.Fulfilling Student ProjectsDonorsChoose.org performs a good deal of work to ensure the integrity of its philanthropic marketplace. Here’s how it works:

• 1. Public school teachers create student project proposals at DonorsChoose.org. This consists of writing a one page essay and listing the exact resource(s) needed.
• 2. DonorsChoose.org volunteers screen each project proposal before posting to the website. Volunteers verify that the teacher and project meet our eligibility requirements, emailing follow-up questions to the teacher if anything is unclear.
• 3. Concerned individuals fund the student projects of their choice-in whole or in part-and are emailed immediate email gift acknowledgments from DonorsChoose.org which can be used for tax deduction purposes.
• 4. DonorsChoose.org emails the school principal, alerting him/her to the funded project.
• 5. Within the next week, DonorsChoose.org forwards the donor an “e-thank-you” from the teacher, which notes the date by which the donor can expect his/her full feedback package.
• 6. DonorsChoose.org purchases the student materials and ships items directly to the school along with a disposable camera, guidelines for preparing feedback packages, and a stamped envelope in which to enclose the feedback.
• 7. Students experience the project that the donor made possible! The teacher photographs the students participating in the project and writes an impact letter to the donor. Students write their own thank-you notes. This feedback is then mailed to DonorsChoose.org headquarters.
• 8. DonorsChoose.org develops the photos, and compiles the letter and thank-you notes. This feedback is mailed to the donor(s) who completed the project or made a partial contribution of $100 or more.

Sometimes as we try to budget everything and save money however we can, we need a reminder that being generous with our resources (time, skills, money, etc) helps us live happier lives and help others as well.

Photo Credit: vnysia and NessieNoodle

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