The clanging of coins in mason jars signaled the beginning of the first-ever Classroom Savings Challenge recently at a pep rally held in the Rogers-Herr Middle School gym.

Durham Mayor Bill Bell endorsed the challenge with a proclamation, and First Citizens Bank donated $500 for the campaign to purchase savings bonds.

"As a parent, I know how important it is that we provide our young people with the skills to understand the importance of being financially responsible," Bell said. "Today's classroom savings challenge serves as a wake-up call for parents, school leaders and others in the community that we can really make a difference."

The Classroom Savings Challenge, which is an extension of an in-school curriculum called the Youth Financial Education Program (YFE), will encourage young people throughout Durham Public Schools to save their money by making daily or weekly deposits into their savings jar during class, according to a news release. Over the next two months, students will learn about money matters and how saving money is part of becoming a responsible adult. The class that saves the most will be announced Dec. 14.

To support the students' efforts, First Citizens Bank provided an initial deposit for each classroom.

"The Classroom Savings Challenge is a wonderful opportunity that highlights our commitment to education and community," said Armeer Kenchen, chairman of The Support Center. "Through the in-class instruction, we hope that young people will learn how to make smart financial decisions and enjoy the spirited competition in learning that saving money is a family effort that can be both fun and essential. Parent participation is vital in helping the students save, and the parents must remind their children to gather their coins and bring them to deposit into their savings jars."

The YFE Program, which has been active across North Carolina for six years, draws upon the expertise of volunteer educators affiliated with The Support Center and a partner organization, the Youth Financial Educators Council. In addition to the classroom lessons on financial literacy, the program also organizes Youth Savings Clubs.

"Pennies can really add up," said Kimberly Knox, director of YFE. "In an age dominated by news of personal bankruptcies, home foreclosures and poor savings rates, the practical lessons of the Savings Challenge will provide students with the skills to learn how to make sound financial decisions now - with the hopes that this knowledge will follow them into adulthood."

According to a Youth and Money survey conducted in 1999, 94 percent of young people say their parents are their primary source of financial education yet 30 percent of those same students report that their parents "rarely or never" discuss saving and investing with them, and 47 percent say their parents "rarely or never" discuss household budgeting with them.

"The in-classroom instruction with real-life examples about financial literacy issues, such as household expenses, is made possible by the information, tools and resources that are given to our teachers," said Drew Sawyer, principal at Rogers-Herr Middle School. "We are excited to be participating in the Savings Challenge and look forward to an exciting year."