A father-son duo from Virginia is on a mission to teach teens about the importance of financial wellness. After launching the company Black Wallstreeter Consultation Services in March, Kevon L. Chisolm, Esq. and his 11-year-old son Kamari created a financial literacy program for youth, Black News reported.
The curriculum—dubbed Junior Wallstreeters: Empowering Youth with Financial Wellness—was developed to instill strong financial values in youngsters so that they take healthy spending habits with them into adulthood. It covers basic financial literacy concepts, tips on launching an investment club, the ins and outs of making stock market investments, and the importance of investing in popular brands they consume. The curriculum has been implemented at the Charlotte, North Carolina-based Vance High School. Chisolm and his son have also included lessons from their e-book Financial Legacy: Building Wealth Through Investment Clubs in the curriculum. They plan on hosting Junior Wallstreeter Camps for youth in the future.
Chisolm believes that the program will have a generational impact and will be instrumental in closing the racial wealth gap. “When we created Black WallStreeter Consultation Services, we wanted to address a few main concerns individuals have about their financial wellness. For example, many of our clients are unsure of how to pay for college tuition, save for retirement, buy a new home or start a new business. An investment club is the ultimate opportunity to increase personal financial goals and ease financial worries,” he said in a statement. “Anyone over the age of 8 is encouraged to attend the seminars.”
There has been a major push to educate youth about the importance of financial literacy. Will Smith and Nas recently invested in an app called Step which was designed to teach youth about money management. In March, rapper 21 Savage led a workshop at a Georgia middle school about making informed and effective decisions when it comes to finances.