By Nathan Slauer
WKTV Community Writer
No one taught Dondrea Brown about money as a kid, and the last thing anyone around his kitchen table wanted to mention was the rising pile of bills. Growing up in a single-parent household, he admired how his mother juggled multiple jobs and raised his five siblings.
As Brown learned about money management later in life, he kept hearing people say, “I wish kids knew about this stuff, too.” While studying education at Kent State University in Ohio, he drew upon his experience of overcoming economic hardship to develop a financial literacy curriculum geared toward an audience between ten- to seventeen-years-old.
This curriculum now forms the basis of Young Money Finances, a nonprofit providing financial education to more than 2,000 participants across West Michigan. The fast-growing organization has garnered media attention and significant sponsorship dollars for its innovative approach to removing obstacles to financial security for young people. Because of his work in teaching financial literacy, Brown, along with Henry Sapp from of Better Wiser Stronger and Cole Williams of the Delta Project, was recently invited to help launch the new collaborative initiative We Matter Now, which is designed to help guide and provide role models for young black and brown men.
“I want this to be the last generation to start from scratch,” Brown said. “My goal is to teach the next generation how to have increased control and awareness of their financial journey, not this perpetuated cycle of ‘oh, we didn’t know.'”
For many young people, the balancing act of caring for family members, finding a job, and keeping up with schools feels overwhelming. Those who lack a support network rely on misleading information from social media, seek instant gratification, and wind up in debt.
At Young Money Finances, participants learn how to address this balancing act by completing one or all three program paths: money management, investment, and entrepreneurship. After completing at least one of the paths, they can meet with a money mentor to discuss real-world spending and saving decisions and practice using the budgeting planner and flashcards in their money manager kits.
Even when sessions dive deep into complicated topics like the stock market, the team at Young Money Finances never forget to have a good time. Sessions use “fun police,” who remind instructors to use games and culturally relevant examples such as online sneaker sales when explaining complex concepts.
For some participants, the lessons delivered during these sessions have been life-changing. Quavon Hallman, a music enthusiast who spends his free time DJing and running sound for New City Kids and his local church, learned how to use a budget app and track travel expenses.
For some participants, the lessons delivered during these sessions have been life-changing. Quavon Hallman, a music enthusiast who spends his free time DJing and running sound for New City Kids and his local church, learned how to use a budget app and track travel expenses.
“I was broke, but I saved up $10,000 and bought my first car,” Hallman said. “I learned the difference between getting rich quickly and building wealth.”
Another program graduate, Thailin Johnson, found a simulation focused on building on a starting point of $500 in the bank and cutting frivolous spending habits to be helpful. The exercise taught Johnson the importance of making incremental progress toward achieving his life’s ambitions, including attending college to study sociology or international relations, leading community service projects, and traveling to foreign countries like Ghana and Israel.
“Pay attention and take ownership of your money,” Johnson said. “The training taught me how to break the cycle of the poverty mindset. Young people’s money matters.”
Reginald Haynes, an athlete who enjoys basketball, football, and wrestling, developed an interest in videography during his time in the program. He records special events for Young Money Finances, with a highlight being a basketball game hosted in partnership with the NAACP.
“I want to help pay off my mom’s house and just provide relief,” Haynes said.
Hallman, Johnson, and Haynes represent the fulfillment of one of Young Money Finances’ goals to help program graduates find employment. Each of these individuals will receive internship credit for assisting with workshop presentations, curriculum development, and social media.
The rapid expansion of Young Money Finances excites Brown, who hopes to purchase a bus for field trips and a building with simulated stock market walls and bank teller stations.
The organization applied for and received grants from Heart of West Michigan United Way, the Grand Rapids Community Foundation, Huntington Bank, and Edward Jones. It also established partnerships with local universities, nonprofit organizations, and the Grand Rapids Public School system.
To learn more about Young Money Finances, visit the organization’s website or Facebook page.
