Memphis Youth Financial Literacy Basketball Camp
The organization teaches students what their “net worth” might be.
MEMPHIS, Tenn. – In a survey of 15-year-olds, about 18% of them have not learned “fundamental financial skills” like budgeting and understanding what an invoice is according to youth.gov. This autumn break, Banks and buckets instills financial responsibilities in children from an early age. Young Memphians learn the best way to build their net worth while shooting hoops.
“Financial literacy and basketball weren’t really related, so I started putting two and two together,” said camper Adrzej Bloomfield. “If I want to go to the NBA, I have to make money first, and if I want to make money, I have to keep that money. And they teach us all and everything starts to fall into place and I really appreciate that.
Camper Jonathan Adkins said, “I learned about budgets. It means how much money you have to spend.
Children don’t just learn about finances. Doing top-down exercises in the field is also a key part of camp. Co-owner Brian Latham said only former professional athletes can coach so kids get top-notch training.
“All of our coaches have all played premier league and professional basketball, being overseas, or as Coach Shields — actually winning the WNBA championship,” Latham said.
Brian and his wife have taken their passion for financial literacy and basketball and created something the kids in the community can look forward to.
“We’ve learned our incomes and expenses and don’t go over budget and use our money wisely,” said camper Christopher Martinez.
Camper Carley Pierce said: “We need to budget for when we get older so we don’t spend all our money.”
“It’s something my wife and I dreamed up. We just wanted to give back to the community,” Latham said. “She’s been in banking for a long time, so we just wanted to do something to give back to the kids.”
Camp is really about empowering kids to do what they want in basketball and with their money.
“They tell us we have the freedom to do whatever we want, but they want to teach us the right way to do it,” Bloomfield said. “They want to make sure we can all be special with our own money and do it the right way and that we all make our own business decisions.”