Ben Franklin would be proud

Tisbury School students
Tisbury School students proudly display certificates awarded to them on June 12, because they regularly saved their money through the school's banking program. Similar award ceremonies were held in the other Island elementary schools. Photo by Jon Ollwerther

By Anna Marie D'Addarie - June 21, 2007

"A penny saved is a penny earned," said the wise Mr. Franklin in the days when our country was young. Young people on the Island apparently still think these are wise words because many of them save their money throughout the year, doing their banking right in school. The Super Saver and the Steady Saver certificates were given on behalf of Massachusetts State Treasurer Timothy P. Cahill.

Riley Donegan, Katelyn Fritz, Taylor Poggi, Patti Leighton, and  Richard Leonard
Student essay contest winners (from left) Riley Donegan, Katelyn Fritz, and Taylor Poggi join Patti Leighton, executive assistant, and bank president, Richard Leonard, of the Martha's Vineyard Cooperative Bank. The three all won savings bonds, which they will no doubt save.

As part of the Fiscal Education program, the Martha's Vineyard Cooperative Bank holds an annual essay contest. Riley Donegan of Vineyard Haven took first place and a $200 savings bond. He began his essay with a Yiddish proverb, "With money in your pocket, you are wise, and you are handsome, and you sing well, too." Acknowledging the quote may be a bit laughable, Riley says, "there is a sad truth to it." He outlines his goals for a Ph.D., in astrophysics, which will mean eight years in college and graduate school, at a projected cost of $160,000. Riley concludes that "saving (money) is not only the key to a better life....but also the key to realizing your hopes and dreams, which is certainly worth the effort." Wise words indeed.