Junior Achievement Helps Kids Learn Money Management

SUSIE GHARIB: It`s not easy teaching kids about money.
But one organization is devoted to helping millions of kids learn how to
manage money wisely. In fact, you probably know Junior Achievement from
when you were a kid. Erika Miller visited one New York City classroom to see what the organization is teaching students today.

SHATIEK GATLIN, JUNIOR ACHIEVEMENT VOLUNTEER: An entrepreneur is
someone who owns a business. And entrepreneurship is you have the right to
own your business through what system?

MILLER: It`s 2:00 at this Manhattan public school, and these fourth-
graders are learning how to build a business, including capital resource
allocation. They are participating in Junior Achievement, the organization
that has been teaching students smart money skills for generations. CEO Jack Kosakoski is a J.A. grad himself.

JACK KOSAKOWSKI, PRES. & CEO, JUNIOR ACHIEVEMENT: I grew up in a very
poor family, blue collar background, and I thought things that happened to
me, as opposed I could make things happen, that I could control my life.
And that`s what I gained through Junior Achievement.

MILLER: Ten million kids in grades K through 12 participate in J.A.
every year. It started in 1919, and one of its founders was Theodore Vail,
a former AT&T (NYSE:T) president.

Many of you may remember Junior Achievement from when you were in
school. But the program has changed with the times. Yes, students still
learn money management and entrepreneurial skills, but they also learn how
to get a job after graduation.

It`s understandable many students are concerned about making money and
getting a good job. But a recent J.A. survey found some depressing
results: less than half of teens nationwide are “very confident” they will
someday have their dream job. More troubling, 71 percent would give up
that dream job to make more money.

KOSAKOWSKI: As a parent, that`s troubling to me that there`s that
focus on the financial aspect of it.

MILLER: Whatever the student`s career goal, Junior Achievement still
relies on legions of volunteers to teach in classrooms. But it has had a
tough time finding enough of them to meet demand. So now J.A. has started
recruiting high school students who have been through the program.

GATLIN: I`m a strong believer that if you can explain something else
to a student in a cohesive and a coherent manner that I think anybody can
teach, and that`s why I wanted to give back and teach other students what I
learned.

GRAMERCY BONILLA, JUNIOR ACHIEVEMENT VOLUNTEER: Being able to do
this, I really feel like I guide the students, especially in finance. And
I`m really interested in finance and pursing that in my future.

MILLER: If your school does not offer J.A., you may want to check out
the video games on the organization`s Web site. Many of the games teach
real life lessons that are relevant to kids and adults alike.

UNIDENTIFIED MALE: What is the first step you are going to take to
learn more about income expectations and opportunities?

MILLER: Erika Miller, NIGHTLY BUSINESS REPORT, New York.


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