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For Immediate Release
Contact:Jim Hedemark
Executive Director, RI Jump$tart Coalition
401.385.9411 | director@rijumpstart.com

North Providence High School Team Claims
2009 Rhode Island LifeSmarts Consumer Cup

Eight Teams of Teenagers Compete in Sovereign Bank “March Smartness”

March 6, 2009 (RI State House) – The Rhode Island Jump$tart Coalition hosted the fifth Rhode Island LifeSmarts teen consumer competition nicknamed Sovereign Bank “March Smartness” on March 6th, 2009 at the State House where the North Providence High School team took Barrington High School into a tie-breaker match before becoming state champions and earning the right to represent Rhode Island in the national LifeSmarts competition to be held in late April in St. Louis, MO.

Placing at the Sovereign Bank “March Smartness” 2009 competition:

State Champions
North Providence High School “Junior Cougars”

First Runner Up
Barrington High School “The Solutions”

Second Runner Up
The Lincoln School “Lady Lynx”

Program coordinator, Jim Hedemark of the Rhode Island Jump$tart Coalition recalled the excitement of this year’s competition, “This year’s ‘March Smartness’ had all of the elements of the NCAA basketball’s ‘March Madness.’Players were thinking quickly on their feet as their teams moved through the brackets, we had several buzzer-beaters, and the final match went into overtime.”

LifeSmarts is a fast-paced, quiz-bowl program of the National Consumers League (NCL) and is coordinated in Rhode Island by the Rhode Island Jump$tart Coalition.Teenagers are quizzed and rewarded for consumer knowledge in five areas: personal finance, technology, environment, health and safety, and consumer rights and responsibilities.(See below for sample questions)

Paula Pais, Vice President at Sovereign Bank, the competition’s primary sponsor, who served as a question master throughout the day stated, “Each year, as I quiz the teenagers on consumer topics, I am thoroughly impressed by the knowledge and skills that these young adults demonstrate. We are proud to support our future leaders.”

Secretary of State, A. Ralph Mollis and General Treasurer Frank T. Caprio spoke to all of the competitors before the final matches and each stressed the importance of consumer education.

Mollis cited 2008 research from The Harrison Group, “As teenagers, you represent over $200 billion in spending power in our economy each year.It is clear that your consumer choices have impact on you, your families, our state and global economy.That is why I am so pleased that you are here participating in LifeSmarts and focusing on consumer knowledge.”

Caprio spoke to students about his involvement in the program, “Each year since the first LifeSmarts competition I have enjoyed joining watching you all apply your consumer knowledge in a way that reflects so well on your schools and your parents.We are all very proud of you.”

North Providence High School LifeSmarts Coach, Kathleen Lisi shared her views on the personal financial education aspect of the program, “Given the state of our economy, it is extremely important that students receive financial education in school so that they are prepared to make consumer decisions that will help them instead of haunt them.LifeSmarts helps achieve this goal.”

The North Providence High School team includes:

Zach Murphy (Captain)
David Antonelli
Kara DeAngelis
Jacklyn Gil
Lily O’Gara

In the five years of the LifeSmarts competition in Rhode Island beginning in 2005, North Providence High School has won the state title four times.Barrington High School won in 2007.

The 2009 LifeSmarts state competition teams represented the following schools and organizations:

  • Barrington H.S.
  • Coventry H.S.
  • Burrillville H.S.
  • North Providence H.S.
  • RI National Guard Youth Program
  • Lincoln High School
  • The Lincoln School
  • Tolman High School


SAMPLE LIFESMARTS QUESTIONS

When a credit card’s annual percentage rate is set attractively low for a specific period of time, this low rate is called:
Answer:  Introductory rate or teaser rate

Income before taxes or expenses are deducted is:
a. Net Income
b. Gross Income (correct)
c. Revenue

A pre-paid calling card is most like:
a. A credit card
b. A library card
c. A debit card (correct)

ABOUT THE SPONSORS
Sovereign Bank is the primary sponsor and partner for LifeSmarts in Rhode Island.Support is also received from the Verizon Pioneers (an employee and retired employee volunteer organization) and the Rhode Island Federation of Teachers and Health Professionals, AFT, AFL-CIO.

ABOUT THE RI JUMP$TART COALITION
Founded in May of 2004, the Rhode Island Jump$tart Coalition (www.rijumpstart.org) is a nonprofit corporation, affiliated with the national Jump$tart Coalition with the mission of increasing the financial literacy of youth in Rhode Island.

 

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