HOW WORLDOFMONEY.ORG HAS CHANGED THE WAY YOUTH OF COLOR, AGES 12-18, VIEW, INVEST & SPEND MONEY
July 1 Historic Trip To Washington, DC, 100 Students To Visit White House & Financial Institutions
5 Tips To Empowering A Financial Savvy Teen
New York, NY (BlackNews.com) - WorldofMoney.org, brainchild of Sabrina Lamb, launched in 2005 to empower underserved youth with a sound financial foundation. Now more than ever this organization is needed to break a generational cycle. The plan is to change the way teens of color, ages 12-18, view money by equipping them with the 5 tenets for a financially successful life: learn, earn, save, invest and donate.
Sabrina Lamb, Executive Director of Worldofmoney.org is on a mission. Her charge is to alter the mindset of how money is viewed by today's young people, "I am waking them up so they are not in a coma. I don't want my students to take a vow of poverty and struggle financially their entire life. How they relate to money at 10 years old will be the same at 50," says Lamb.
Lamb created the Youth Financial Education Training Institute, a 4-week, core program that takes place in the summer for 100 students in the Tri-State area. Throughout the program youth interface with top financial experts, tour financial institutions and upon completion graduate with a Certificate of Completion.
As part of the 2009 curriculum, the summer campers will spend July 1 in Washington, DC. The planned visits are: The White House, Bureau of Engraving & Printing, the Capitol, Lincoln Memorial and the Financial Services Committee Room in the Rayburn House Office Building. The Washington, DC trip is during a historic time and has special meaning for a student attending. "The WorldofMoney.org has helped to open my mind to an area unbeknownst to me before. I knew I wanted to be wealthy, but didn't know how to acquire the skills necessary to do so, now I do," says Jessica, Age 16.
The organization has received national to international notoriety with coverage in such outlets as: New York 1 Television's New Yorker of the Week, Fox Business News, WCBS-TV, WNBC-TV, syndicated Steve Harvey Morning Show, Ebony magazine, and Australian's Weekend Sunrise. Lamb and the youth of Worldofmoney.org twice presided over the NASDAQ Opening and Closing ceremonies.
5 Tips To Empowering A Financial Savvy Teen by Sabrina Lamb:
1) Review Ones' Family Money Culture. Parents will complain about kids thinking, "money grows on trees." Parents must be financial role models.
2) Have Cogent Conversation. Let them know what expenses are and how they are paid. It's okay to talk about the bills--mortgage, gas, landscaping, food, etc. Start talking as early as possible: educate, inform and empower.
3) Parents Overcome Your Personal Shame. "It's okay to admit you are struggling. Empower your child with the family financial plan, which builds a stronger and smarter family. Lamb tells the students, "be the financial leader of the family and take the lead."
4) Stop Being A Beggar. Ask your mom/dad how you can earn money? This is how the world will treat and perceive you. Earn what you deserve and desire. Money is power and value.
5) Understand The "Need" and 'Want" Concept. The lines for these words are often blurred. Ex: You think you "need" a X-Box at 12 because it's tied to your identity; you "need" he latest sneakers for $150, however, it only cost $2 to make. What is the value? "Parents must give their children real examples they can understand to make smarter choices. Lamb preaches, "If they saved $2 for everyday of their life they would have a healthy nest egg as an adult."
Sabrina Lamb believes Worldofmoney.org is the vessel to empower and expose youth of color with financial education, business acumen, access and success.
I plan to have a WorldofMoney.org in each major city; however, we must take one step a day. The organization must continue to secure funding and corporate sponsorship to offer additional programming and expand to include internships, mentoring and college scholarships, says Lamb.
For additional information about www.WorldofMoney.org, visit the website or call 212-969-0339.