The Enterprise Public Library joined forces with All In Credit Union to hold a “Financial Summer Camp” for students in grades 3-5 on Thursday.
According to Marketing Manager Amanda Hahn, the football-themed camp provided a fun way for campers to learn about finances and money management, teaching them about budgets, dividends and interest in kid-friendly ways.
“We’re going to talk to them about dividends and interest with Starburst,” Hahn said. “We’re going to tell them, ‘You saved $100 and the bank pays 2% interest, so the bank pays you two Starburst.’ We’re also going to do a loan to show them how you have to pay the bank or credit union back. This afternoon we’ll talk to them about budgets, so they’ll get to select careers and go around a little sheet of paper we give them to make different choices -- they’ll make budgets with that. At the end of the day, we’ll read a book with them and they get to create a game, so we’ll talk with them about being an entrepreneur and the goals they have to set with that.”
Hahn said that though the campers are young, it is important to talk to them about finances now so they can have a better understanding of the subject in the future.
“We think it’s important to instill a financial education early so kids can start making smart decisions now,” Hahn said. “Even when they get birthday money, one of the girls said it’s hard to save money because all she wants to do is buy candy, so we encouraged her to maybe save half of it and spend the other half. You can still buy some of the fun things and save some of your money too. Starting early can help build a foundation for later in life.
“We hope the kids learn about making smart short and long term goals and making those decisions early. When we’ve done these camps before, their eyes open -- we put this on their level so they know how to create budgets and a lot of the time, at the end of the day they’ll say, ‘That’s so cool, I didn’t know my parents had to create budgets.’ They have a little more understanding about why mom and dad may say no to something. Hopefully they build those foundations to carry it with them for the rest of their lives.”
For more information on financial summer camps, contact Amanda Hahn at 334-598-4411.