Trial Run of Financial Literacy Program Helps Smooth Out Bumps
CAIED’s new financial literacy program, Financial Sovereignty: Great Game of Life, was tested with a trial run on Saturday, April 13, 2013 with several students from the Kinlani Bordertown Domitory. CAIED intern and NABO representative Trena Bizardi led the trial run.
“The event started off a little chaotic, but as we set up and worked out the kinks, it ran smoothly,” she said.
“We were worried that no one was going to show up at first,” said CAIED program coordinator Gwen Cody. “But we had seven students from the dormitory and they seemed like they were having fun once they got into it.”
Several tables representing different businesses such as a car dealership or apartment rentals were set up and the students were given a hypothetical sum of money to spend.
“Most of the students ended up at the car dealership first and then they made their way over to electronics,” said Cody. “That was interesting, to see where they went to first.”
Students were able to learn more about money management and what to expect when they have bills to pay.
“They said it helped them learn about different business transactions such as renting an apartment, buying a car, and creating a bank account,” Bizardi said. “It did not necessarily teach them right away how to spend their money, but they did leave thinking about it a little bit more.”
The trial run helped the organizers figure out which parts of the Financial Sovereignty: Great Game of Life program were successful and which parts still needed more work.
“We found ways to engage the students more, such as adding some closure items: car keys, invoices, rental agreements, etc,” Bizardi explained. “We also are adding [the aspect that] payments are due every 15 minutes, which will allow students to pay bills and understand the expenses that are accruing.”
Once additions and corrections are made, CAIED will be launching the program at the Salt River Pima-Maricopa Indian Community.
Categories: spring 2013 caied gwen cody trena bizardi kinlani bordertown dormitory nabo center for american indian economic development native american business organization salt river pima-maricopa indian community financial sovereignty: great game of life great game of life 7g mm financial literacy seven generation money management game seven generation money management