Filed by Michael Cross in Uncategorized.
July 15, 2011
 

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A pre-school in Oklahoma City is taking steps to teach its young students about the importance of saving money and financial literacy.

Oklahoma City Educare even employed the help of former OSU and NBA player Desmond Mason.

During a presentation at Oklahoma City Educare, preschoolers sing a song about saving to the tune of “Mary Had A Little Lamb”.

“Saving is for everyone know matter what their age.”

Minutes later the children are sitting around a table painting piggy banks and filling them with dimes provided by First Fidelity Bank.

Former OSU and NBA Small Forward Desmond Mason crouches on a chair beside the little children to paint his own bank.

Mason now works as a spokesman for First Fidelity, but in his nearly ten years of professional basketball, Mason saw many players who got a lot of money and no idea what to do with it.

“You start making bad decisions, not thinking about taxes, not thinking about saving for your future. Thinking that it will go on forever and it really doesn’t. Something can happen that can cut it short so you definitely want to start saving from day one in the NBA.”

Many of the 212 children at the school ranging from birth to five years old come from financially challenged homes with no knowledge of the value of a dollar.

Educare Chairman Bob Ross says the piggy banks and the dimes provide an opportunity to open dialogue with families about saving money.

“This is yet another tool; a learning tool that we’re teaching them at it will carry on and talk to their parents about. This is a lesson that can be taught at home as well.”

Mason says allowing the kids to paint their own piggy bank gives them a sense of possession and first-hand experience in saving money.

He says he also appreciates the song the students sang as a great way to teach young and old alike how to take care of their finances.

“I’m going to hum it and whistle and teach my kids when they get home, but, yeah you know when you’re creative with your kids and teach them in creative ways, just like the ABCs song. When they learn in creative ways it gets ingrained in the thought process and I think the more you can do that at a young age the better.”

“If we start to save right now we’ll have our college paid.”