Arkansas Northeastern College hosting children's financial camp

BLYTHEVILLE, AR (KAIT) - Arkansas Northeastern College is hosting a financial camp for children.

 

University of Arkansas county extension agent and class instructor Pam Pruett said the four-day camp, "Money Sense for Children", deals with four components, spending, saving, donating and investing wisely.

 

"If we can understand how money is earned and how to use it wisely then we can be more financially responsible," Pruett said.

 

"It's almost an epidemic in this country, financial illiteracy."

 

The camp is taking place at Arkansas Northeastern College in Blytheville, with sessions for fourth through seventh graders and first through third graders.

 

"With the older kids we went to the Internet and looked up some prices. With the younger ones we just talked about what are some things you could save for."

Camp attendee eight-year-old Destiny Kirby said she is learning that money can be fun, if used in the right way.

 

"We know from brain research that the younger the children are that they start making connections, then as they get older and they become more exposed to concepts, we can build on each concept," said Pruett.

 

In 2008 The Jumpstart Coalition released the results from a national survey called, "The Financial Literacy of Young American Adults".

 

According to the survey, 75 percent of young American adults do not know how to make wise financial decisions. 

 

"Studies have shown that when high school students were given a financial fitness quiz, they scored in the forty percentile, and that's failing."

 

Pruett hopes to build the foundation for financial success with the class, and encourages parents to keep the momentum going.

 

"Research has shown that the primary source of financial education comes from the parents."

  

Click here for tips on teaching children about money. 

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