Getting students thinking about making financial decisions at such a young age can be a challenge, but having knowledgeable and friendly volunteers makes it much easier! “Camp Raven” is UWATX’s free summer enrichment program at Decker Middle School, where each week students learn about an issue affecting their community and complete related educational activities with volunteers. Last week, seven Chase volunteers dedicated a total of 27 hours of their time at Camp Raven, where they led financial literacy games and activities for the campers. “ I chose to spend the most on food and healthcare because taking good care of my children is the most important thing to me.” — Kevin, 7th grade student There were two exercises that the children and volunteers participated in, a market simulation exercise and a budgeting exercise. The market simulation exercise was completed using food items such as fruit snacks, mints and juice that had different values. The students were divided into assigned groups and were classified as either buyers or sellers. Sellers had to come up with a price and strategy on how to sell their “products” for the greatest amount of dollars and create ads with the product information. The buyers group made transactions using fake money based on what the advertised prices were. Following the activity, students discussed what they learned in regards to their money making decisions. The budgeting activity taught the children how to budget their candy “money” by allocating them into realistic categories. Each student based their budgeting decisions on the idea […]
Read MoreJP Morgan Chase partners with Bank On Central Texas to help Central Texans “Make their Money count”
JP Morgan Chase becomes the 10th partner to join Bank On Central Texas in helping Austin residents open a bank account and bringing affordable financial services to Central Texas. “Mainstream financial institutions like Chase are the safest way for consumers to protect their money,” said Jill Shah, Director of Financial Stability at UWCA. “With Bank On, we’re making it possible for the 47,000 people in our community without a bank account to finally open one. Partnering with Chase allows us to reach even more people.” In its first 9 months, Bank On Central Texas helped 4,300 people open bank accounts, saving a total of $1.7 million in check-cashing fees. Chase will help the unbanked population by offering no-fee accounts, free check cashing, easy direct deposit and referrals to Bank On’s financial education classes. Chase customers will enjoy a more comprehensive menu of services thanks to this partnership. “Families with access to basic services like a bank account are more likely to save and less likely to fall prey to high fees and interest rates,” explained Jill. “In these economic times, it’s more important than ever to plan your finances carefully.”
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