“100 Black Men of Austin” works to teach students financial literacy

100 Black Men of Austin and several partners hosted a 10-week stock market game to teach financial literacy to middle and high school students.

If you invest your money wisely, you can reap the rewards later in life. Communicating this knowledge is the aim of a national competition that teaches middle and upper school students financial knowledge.

On site, the group hosted 100 Black Men of Austin and several financial partners, including Charles Schwab, a 10-week stock market game.

Every Saturday, 54 students in four groups study by playing a simulated version of the stock market online. Finance professionals also teach students how to read stock market prices and what to look for when investing.

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“I went into this game without really knowing too much about the stock market,” said Kennedy Monroe, senior at the Texas Empowerment Academy. “But now that I’m on Saturday every week, I’m growing and learning and understanding how to really and truly invest in myself so that one day I can become an investor.”

It was really hands-on learning even as the GameStop surge happened, with individual investors coordinating in large numbers on Reddit and using platforms like Robinhood to buy up GameStop stock.

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“But I think it really emphasizes how fast money doesn’t hold up,” said Jayden Bright, senior at Round Rock High School. “And when the GameStop spike happened, you saw the growth go up 700 percent quickly, but about a week later you went down to about $ 5. I think that really shows up if you ‘if we try Getting financially free is a long-term thing, a very short-term thing. “

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“We wanted to bring this to color students in particular, as this is not taught in many black households, many minority households,” said Romaine Anglin, vice president of economic development for the 100 Black Men of Austin. “How to save, how to invest, how to grow your money.”

At the end of the stock market game, students will receive a $ 25 scholarship for each lesson they have taken. Scholarships are also awarded to the top three teams of students who, at the end of a competition, have accumulated the highest amount of equity in their portfolios.

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