“I want to buy a car.”
“I want to buy a very big house.”
“Oooh, I want to buy an island.”
They were some of the answers K-12 students gave during a financial literacy workshop Thursday morning at Grand Canyon University's Learning Lounge when asked what they want to buy the most.
In partnership with Arizona Financial Credit Union, GCU hosted 20 schoolchildren for a workshop on the essentials of spending and saving money.
“We thought how great it would be to teach our littles on the fundamentals of banking,” said Learning Lounge Program Manager Alexandra Jones. “Our college students leave home, and when they are on their own, it’s just a credit card after a credit card. Spending habits come at you really quick, and those habits start burning into your brain early on.
“We want to teach littles to save. We don’t want this generation to need to lean on loans.”
Learning Lounge team members frequently visit local schools, where they participate in open houses, academic events and parent-teacher meetings. Gathered behind a purple marketing table, fun school supplies and informational flyers, the team’s goal is to connect with parents and young students who are looking for community and support.
All students who visit the Learning Lounge, which occupies a roomy space at the university's 27th Avenue and Camelback Road location, are invited to participate in tutoring services and various games. They come to play, run around and have fun, but also to receive mentorship and structure.
When the question arose, “What life lesson should be the theme of this week?” Jones immediately thought of finances.
“It is really important because it is something not everybody gets to learn as a kid,” shared sophomore student worker Natanael Martinez. “It is something that will stay with them throughout life.”
Margarita Mejia, alongside two other bank representatives, shared a presentation on fundamental concepts, such as spending versus saving, needs versus wants, quality prices and simple addition and subtraction of budgets, all while engaging the youth in a game of bingo.
As the workshop presenters would move through their lesson plan, kids would cross out key words on bingo paper that they would hear in the presentation. It encouraged kids to actively listen and pay attention.
“I was impressed because some of them grasp it so well and understand in their own way, said Mejia. “We want them to understand from the beginning where all their money is going.”
To help students understand the concepts they were sharing, Jones, Mejia and her team created interactive activities for kids on every concept in the lesson plan.
One of the activities taught kids how to choose between spending money on items they need and want. On a sheet of paper, they included photos of various objects, and the K-12 students had to pick which items would be the best choice. Groceries or toys? Toiletries or new clothes?
Once finished, they shared their answers, and if they made the correct choice, they were rewarded with Monopoly money.
“When I was a kid, I really didn’t know much about the financial aspect,” said sophomore student worker Esther Baca Leyva. “I wasn’t aware why it is important and how it can be used in the future. This gives awareness to the kids.”
At the end of the workshop, students used the money they won to shop for school supplies donated by Arizona Financial Credit Union.
“This is part of what GCU is trying to do – trying to enrich the community and uplift it from where it is at now,” said Jones. “We are trying to get these kids a safe place to play and be kids, while trying to raise a community itself … and create future Lopes.”
GCU staff writer Izabela Fogarasi can be reached at [email protected]
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