TINKER AIR FORCE BASE, Okla. -- Lots of parents wish schools would teach their kids money basics: how to spend it wisely, budgeting, the difference between a want and a need.
While not technically a school, the Tinker Youth Center got an award for doing just that.
The Oklahoma Boys & Girls Club Area Council gave the center a 2017 program honor award for its “Money Matters: Make it Count” classes and activities.
Brendan Facey has been teaching the 12-week program since March. He is a youth programs intern with the 72nd Force Support Squadron under the Palace Acquire hiring initiative.
Facey began working with the youth center in September. He has a degree in exercise science that included multiple hours of coursework in childhood education and a minor in sports leadership.
Money Matters involves informal classes, a stock buying-and-picking simulation and ways to earn “money” for it by participating in events ranging from running laps to games. The ultimate incentive to play and learn is that children aged 10 to 18 can spend their money on chances to win donated gift cards in various amounts.
Facey said the competitive nature of the program excites the youth and increases their participation in all of the center’s varied activities.
“A lot of these kids get pretty competitive and it has helped with our numbers in general,” he said. “They want to get their money up, and at the end, whoever who has the most money, they’ll pay for a share, but it’s like a raffle ticket.
“We have different share prices for each prize, so if they have $60 they can go for one share of a $60 prize, or three shares of a $20 prize,” he said. “This helps in decision making. In real life you have to learn the best ways to spend or save your money.”
The program covers financial topics that include saving and investing, credit and debt, planning for college and entrepreneurship.
A recent afternoon class lured in about 15 kids with the incentive of a tray of warm orange chicken bites and earning “money” for joining in. The students filled three large round tables for the lesson from “Mister B.”
The lesson was called “Investing 101.” Each table had to decide whether one of six questions was a myth or a fact. The first one asked whether people can only purchase a minimum of 100 shares of a NASDAQ stock.
“So here comes the answer,” Facey said. “Myth. So you do not have to get 100 shares. You can purchase a single share as long as you’ve saved up enough money to meet your budget for necessary expenses and have a good long-term plan in place. You can invest in just one share, but be aware that there may be transaction fees that make it more effective to buy more than one share at one time.”
Facey said the center’s youths love the program and he enjoys teaching it.
“The 18-year-olds have a better understanding of how finances work, compared to the 11- and 10-year-olds. We have to try to keep it in between so that everyone can get a good idea of how it works.”
Program Coordinator Melissa Benson said Facey has done a great job inspiring the kids.
“Basically, it’s getting the knowledge out to the youth about what it’s like in the real world and how to save money versus spending it. So much nowadays, rather than keeping it in their pocket, they’re more apt to spend it. We want to get them thinking about the long term.”