Baller's Conference teaches Columbus students financial responsibility
COLUMBUS, Ohio (WCMH) -- A lucky group of Columbus City School students is going home with their very own savings account, some cash in their pockets, and a new outlook on their financial future.
That is because of the Baller's Conference, a seminar put on by Ice Mentors, a non-profit organization that teaches kids valuable lessons about responsibility. The seminar teaches kids about how to get the most out of the money they make.
"It's about a financial literary experience," Ice Mentors CEO Sherome Hathaway said. "So we want people to understand hey you want to be a baller, we'll you need to be financially literate. You need to understand money."
Ice Mentors is a coalition of two youth organizations for boys and girls called Men of Ice and Eryn Pink. They hosted parents and students to teach them efficient financial strategies like how to balance your credit and debit, the perks of investing, putting money towards saving, and budgeting.
They did so because they feel it is not taught enough in school and to lay the foundations for generational wealth for Black families.
"We really did this intentionally because you know, the African American household has a means and savings of about $24,000, savings and investings, home equity, and all the above. Compared to $189,000 in a white household." Hathaway explained.
Students were split up into different groups and competed against each other. These groups were given a project, to create a solution for a modern-day problem. The catch? You have a budget you can't go over.
This created a sense of teamwork and pride that the students seemed to really get behind. Each team got their own student ambassador from ice mentors. The experience for them is ultra special because it allows them to teach what they've learned to their peers.
"We're all young so we have a lot of growing to do and we still have learning to do about money and financial things," Student Ambassadors Kiare Price and Nia DuBose said. "So them being excited about that is something special."
Entrepreneurs from around the city shared efficient ways to make money at a young age, such as doing chores and putting together a college fund. They even set up savings accounts for each student to start saving for the future.
"I partner with BMI Credit Union here today and I'm going to match their deposit for them to open up their first savings account," business strategist coach Jessica Kay-Shinholster said.
Ice Mentors wanted parents to be there as well so that when they all went home, they could work together as a family to better secure their financial future. The winning team may be walking away with some cash, but everyone is walking away with a valuable lesson, it's never too early to start saving money.