Cherokee Nation Teaches Financial Literacy
Camp Bizworld and Camp Millionaire were created by the Cherokee Nation to teach tribal children the basics of entrepreneurship, business and finance.
“The program is about building future leaders for our nation. In the curriculum there are a lot of leadership activities that help build those skills,” Nancy Scott with Cherokee Nation Community Services, which sponsors the camps, said in a press release.
One of those activities simulates a real-world business situation, like the one shown in the photograph of the students selling friendship bracelets.
The two camps are geared toward students in third through eighth grades. The first week, during Camp Millionaire, the students learn how to save and learn about debt management, including good debt and bad debt.
During the second week, Camp Bizworld, the students create, design and market their friendship bracelets. After being divided into two companies, the students secured financial backing, bought materials, created a patented design, recorded a commercial and sold their product in the Bizworld Marketplace.
“[The students] have learned a lot and I like that the homework is interactive with the parents at home,” Audra Cornett, a teacher at Inola Elementary School, one of the camp locations, said in the press release. “We’ve had a lot of parents comment on how good this was and wish they had learned it when they were younger. They’re thrilled that Cherokee Nation is providing the opportunity to our students.”