"the People's Paths!" Cherokee News Path - Money Camps Teach Youth Financial Stability

TAHLEQUAH, OK — Helping young Cherokees get a head start on their financial well-being, the Cherokee Nation recently sponsored Money Camps in three Cherokee communities.

“The Cherokee Nation is proud to sponsor activities such as this that help our young people prepare for their future,” said Chad Smith, Principal Chief of the Cherokee Nation. “The Cherokee Nation promotes self-sufficiency and we believe that it is never too early to teach our citizens ways in which they can achieve this goal.”

Money Camps are an innovative approach to providing young people the financial literacy tools they need to choose and create financial independence. Through fun-filled games, activities, group exercises and field trips, participants learn how money works. The underlying goal of the camp is to teach the children that financial independence is their choice and their responsibility.

Nancy Scott of Cherokee Nation’s Community Service Department coordinated the camps. She said the camps are funded through a Community Services Block Grant.

“The main purpose of the grant is to eliminate poverty by addressing the causes of poverty,” said Scott. “The day camps include four days of hands-on instruction on the importance of saving early, setting goals, how to develop a savings and spending plan, investing and other money related topics. On the last day of the camp, the participants visit a local bank to see how a bank operates and what is involved in opening a savings or checking account. I really like the curriculum that we have obtained for the camps. The information is informative and a fun way for the youth to learn about some important and difficult topics. It helps them realize they have a choice to become as financially free as they want.”

Most people, regardless of age, think when it comes to being financially free, it’s how much money they make that is important. According to the Money Camps curriculum, it’s really how much money you keep that determines your wealth potential. The camps focus on the principles behind sound money management such as paying yourself first, the advantages of lifelong saving and investing, managing risk and how money buys goods and services.

“I think this program is wonderful, especially for our community,” said Louanna Soap, Money Coach at Bell Elementary. “This camp is very advantageous for students and their parents. I have learned from teaching the children. I am just so very thankful to Cherokee Nation for allowing me to be a part of this. Teaching this camp is a way for me to give back to my community and I want to do that as much as possible.”

Sixth grader Nikiah Wright is one of 29 students who participated in the camp at Bell Elementary.

“This camp is fun and I’ve got to make some new friends,” said Wright. “I’ve learned a lot about money, like how to invest and how to be financially free.”

“This camp provides us an opportunity to teach students about money in a way that we cannot in a normal academic setting,” said Larry Nettles, Bell Money Camp Coordinator. “Our goal is to teach the children how to approach life in relation to money. The kids really seem to enjoy the activities. In an interactive learning environment they are learning how to let money work for them over time. I am so thankful for the Cherokee Nation and the efforts that they make to better Cherokee communities.”

“This is the second year that the focus of the Community Services Block Grant has focused on financial literacy for youth,” said Scott. “Summer camps were scheduled in Bell, Leach and Wickliffe and were open to low-income students in the surrounding areas. I think these programs are great and very informative. It’s been great teaching the students the importance of making sound financial choices.”

The Money Camps are timely, as well; Oklahoma House Bill 1476, passed in May, states that all Oklahoma secondary school students will begin receiving financial literacy instruction to help them avoid money problems in their adult years. The bill will go into effect on July 1 and will be implemented in state schools beginning in the 2008-2009 school year.

For more information about Money Camps contact Nancy Scott, phone: 918-453-5259.