“We help with financial literacy, which is basically helping people to understand money.” – Mvskoke Loan Fund CEO Christopher Coburn
Children learn about finances at young age
EUFAULA, Oklahoma — A youth financial literacy event was held Sept. 12 at the Eufaula Dormitory for students who live in the dorms and go to school at Eufaula Public Schools.
The Muscogee (Creek) Nation Mvskoke Loan Fund sponsored the event with several departments and other entities throughout the state onboard to help out with the financial exercise.
“We help with financial literacy, which is basically helping people to understand money,” MLF CEO Christopher Coburn said.
The event was presented in a game format to teach youth how to handle money while making life decisions.
The students were given a certain amount of ‘money,’ which they had to use in certain stations to buy a house, food, health insurance, etc.
“They are making a year’s worth of decisions,” Coburn said.
Why did MLF feel this would be a good exercise for the children?
“We want them to be able to learn how to budget money for when they get older,” Coburn said.
He believes the target age category, 12 to 15-years-old, is a good age to do this exercise.
“At this age, they are thinking about sports and the good habits they need to be successful in sports and in school,” he said. “Handling money is the same way. It is a skill.”
MLF applied for and was awarded a grant from the Oklahoma Native Assets Coalition.
“This event is what we did for the grant,” Coburn said.
EPS freshman Feather Ellis has been living at the dorms for over eight years. She said the exercise was fun, but also helped her to understand what she needs to do to handle money.
“It is fun, but it is also rough and difficult,” Ellis said. “I didn’t know what all you had to do with taxes and insurance.”
She also said that she understands what adults go through on a daily basis when it comes to handling money and budgeting.
“It is challenging, but the people at the stations are teaching us how to handle our money and to be smart at spending it,” Ellis said. “This is helping to prepare all of us for when we grow up.”
Coburn said he feels the event was successful in helping students learn more about handling their funds.
“We can always do this game in the future,” he said. “We have the rights and we own this game.”
To learn more about MLF, contact: 918-549-260