Banner Graphic, Volume 10, Number 85, Greencastle, Putnam County, 12 December 1979 — Page 6

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The Putnam County Banner-Graphic, December 12,1979

Consumer education

Economist laments that young people aren't prepared to handle finances

First of a Five-part Series WEST LAFAYETTE - Most young people know more about making money than they do about taking care of the money they make. So a vital part of their preparation for life is missing, asserts a Purdue University faculty member. There is no questioning the great social, political and economic impact of America’s youth, says Leslie A. Bryan, a consumer economist on the staff of Purdue’s School of Management and a personal finance consultant. "IN’ PURSUIT of their goals, today’s generation is occupationally better prepared, more aware of world and national events, and more mobile and well-traveled." Bryan declares. "However, parents and educators appear to have fallen short of the mark in one vital facet of pre-adulthood education: We spent 18 to 22-plus years preparing our youth for occupations but generally less than a few hours on the value, use and protection of the assets they will earn during their careers."

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Brogan notes an American Council of Life Insurance and Health Insurance Institutes’ survey which indicates that 05 per cent of youth ages 14 to 25 responded positively to the statement: I would most like to adopt the kind of life this

North Putnam Boosters plan fund-raising events

The North Putnam Booster Club sponsored a dance Saturday evening, Nov. 10 featuring Buster Bodine and the Bodine Machine at the high school gym. Over 500 people attended the dance. The Booster Club is attempting to raise money for the athletic fund and will be sponsoring a dance or other activities at the school once a month for the students. The club will also be selling North

Putnam Cougar hats and caps, license plates, jackets and seat cushions bearing the North Putnam Cougar insignia at all home varsity basketball games. Coug Booster Club membership will also be available. The club’s next dance will be held at 8 p.m. Friday, Dec. 21 at the gymnasium. Fast Freddie Fever of WNAP Radio, Indianapolis, will be the featured disc jockey. The dance will be open to the public.

society has typically offered - a good job, a nice family, a pleasant neighborhood and being part of the community. “Are we really teaching our children how to manage so they may reach their goals of the good job, the nice family, the pleasant neighborhood?” Bryan asks. IIE CITES A SURVEY of 750 students at Purdue during the 1978-79 academic year which reveals some startling weaknesses in their preparation to cope with today’s financial challenges. More than half of the responding students had never used a budget and 39 per cent didn’t -- or didn’t know how to -- reconcile their checking accounts. Most did not know the meaning of some basic terms found in credit contracts and were unable to distinguish between various types of life insurance policies, for instance the difference between a term policy and a limited payment life policy, and whole life versus an endowment policy. Nearly 90 per cent did not know the difference between the Blue Cross and Blue Shield programs, and almost threefourths of the students did not know the meaning of the num-

Wednesday Veronica Club will meet Wednesday, Dec. 12 with tarene Allee, 117 South Jackson Street, Greencastle. Putnam County Extension Homemaker Clubs will be sponsoring a learn and return lesson on “Saving Money on Utility Bills” at 7 p.m., Wednesday, Dec. 12 at the Putnam County Fairgrounds. Marilyn Smend/.uick, extension home economist from Greene County will give the lesson. Greencastle Chapter No. 22. Royal Arch Masons, will hold its stated convocation at 7:30 p.m. Wednesday, Dec. 12 in the Masonic Temple. The stated assembly of Greencastle Council No. t()7. Royal and Select Masters, will follow at 8:30 p.m. Election of officers. Chapter I, PEO, will meet at 7:30 p.m. Wednesday, Dec. 12 with Mrs. John Kendall. Please bring a small gift for an IPS student. Thursday The Fatima Rosary Group will meet at 7:30 p.m. Thursday. Dec. 13 at the home of Mrs. Sarah Kerr at 1005 Shadowlawn. Greencastle. The Beech Grove Indies Aid will meet all day Thursday. Dec. 13 at the church for its Christmas party. Members are reminded to bring their secret pal gifts or a $3 gift for exchange. Melva Caldwell will be hostess. The United Methodist Women of Gobin Church will meet at 1:15 p.m. Thursday, Dec. 13 at Charter House. Officers will be installed and the program “Christmas Around Our Mission World,” with Mary Janet Monnett and Carolyn Thomas as narrators, will be given. Guest speaker will be Dr. Robert Farber. Bethel Circle will be hosts. Nursery provided. The First Christian Church and the Presbyterian Church will be sponsoring a blood drive for the Putnam County Blood Donors Program from 2-7 p.m. Thursday, Dec. 13 at First Christian Church, UOSouth Indiana. Cagle Ten and Four Home Extension Club will meet at 7:15 p.m. Thursday, Dec. 13 at the home of Mrs. Noble Costin. The lesson “Gift Wrapping” will be given. Don’t forget gifts for the grab bag exchange. Omnes Chapter, Order of DeMolay, will hold its stated meeting at 7:30 p.m. Thursday, Dec. 13 at the Greencastle Masonic Temple. Plans will be announced for a caroling party, roller skating party and a visitation to Beech Grove Chapter. All DeMolays are urged to attend. Friday The Woman’s Study Club will meet at 2 p.m. Friday, Dec. 14 with Mrs. Howard Youse. Mrs. Robert Breese will give the program.

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Calendar of events

bers used to describe the limits of a typical automobile policy, such as 15-30-10. “Almost half of the students had never personally figured and filled out their 1040 or 1040 A Federal Income Tax form although all had held jobs in which tax had been withheld." Bryan says. “Apparently it was simply easier for Dad to fill the thing out rather than explain the process. ” FINALLY. 93 PER CENT had never had a formal course, no matter how short, in personal or family finance. “Consider what is ahead for our sons and daughters.” Bryan warns. “Most will some day purchase a home. In December 1978, the average new home cost $67,600, some 17 per cent higher than a year earlier. Hopefully that rate of inflation will not continue, but should it, in 1987 when today’s 22-year-olds are 30 and perhaps ready to buy, they will find the average new house will cost $237,400. “Perhaps more meaningful to teenagers is that at that inflation rate, a ‘Big Mac’ now at 90 cents will cost $3.16,” Bryan says. Next: Financial planning for the family.

Friday The Crosswalkers Square Dance Club will hold its Christmas dance Friday, Dec. 14 at. the Rockville National Guard Armory. Caller will be Gaylord Shull. The North Putnam Boosters will hold a meeting after the basketball game Friday, Dec. 14. Everyone is invited to attend. Century Club will meet at 2 p.m. Friday, Dec. 14 at the home of Mrs. Cornelius VanZwoll, 112 Northwood Blvd. Mrs. Richard Kelly will present Miss Ikumi Omori, a Japanese student at DePauw, who will give a program on “Japanese Holidays.” The Greencastle All-Sports Booster Club will have the entries in their poster contest on display at the home basketball game at Greencastle High School on Friday, Dec. 14. A $lO gift certificate, donated by DePauw University Bookstore, will be awarded to the junior-senior high school winner. An AM pocket radio, donated by Shuee and Sons, will be given to the elementary school winner. Saturday The Greencastle Squares will dance from 8-11 p.m. Saturday, Dec. 15 at the Greencastle National Guard Armory, 401 Arlington Street. Ron McPherson and Red Omdorff will call the Christmas dance. The Church of God Ladies Auxiliary Christmas banquet will be held at 6:30 p.m. Saturday, Dec. 15 in the church basement. All women invited. Sunday The Beech Grove United Methodist Church Christmas program will be given at 7 p.m. Sunday, Dec. 16 at the church. A play, “His Best Christmas” will be given and social hour will follow. The community is invited to attend. Putnam County Rural Youth will bowl at Varsity Lanes at 1 p.m. Sunday, Dec. 16. Monday The Puftnam County Council on Aging will hold its quarterly and annual meeting beginning at 2 p.m. Monday, Dec. 17 at the Senior Center. Regular business, election of three directors and installation of new officers will take place. All council members are urged to attend. The public is welcome to observe and comment. The Putnam County Unit of the American Heart Association will meet at 7 p.m. Monday, Dec. 17 at the home of Mrs. Doris Vaugh, president, on U.S. 231 South. Any interested persons are welcome and invited to attend. Please note change of date and meeting place.

Christian Women to meet

This is a time when we’re not only wrapping up ourselves to keep in the warmth, but also wrapping up packages to keep in those surprises until Christmas. With this in mind, the Greencastle Christian Women’s Gub has invited Mary Alice Adams, Extension Home Economist from Sullivan County, to present a special feature on easy and clever ideas to add sparkle to Christmas gift wrapping. The December luncheon meeting is to be at 12 noon on Wednesday, Dec. 19. in the DePauw Student Union Building. Lou Anne Woodcox, who has performed her own musical programs throughout the state of Indiana, will be presenting the luncheon music. B. Victoria Williams from In-

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dianapolis will be the feature speaker. She is a mother, grandmother, and secretary The cost of the luncheon program is $3.75. Nursery facilities are provided for preschool children at Gobm Memorial United Methodist Church at no charge. Reservations for both the luncheon and nursery are necessary arid must be made prior to noon on j Monday. Dec. 17. by calling) Hazel Meyers at 653-4446 or’ Janis Price at 653-6963. Bus transportation will be; provided from the First Baptist) Church parking lot on Judsom Drive to the union building, fori those wanting to avoid any potential parking difficulty around the union building. The bus will leave the parking lot at 11:45 and return to the union fori passenger pick-up at 2:15 p.m. 1