Boys and Girls Club Investment Clubs

The state of the economy figures prominently in any news report these days. Whether the focus is on the stock market, the national economy or tax cuts, a working knowledge of finance is needed to understand the world around us. Unfortunately, many young people lack financial understanding.

In 2003, the Colom Foundation and Primerica Financial Services joined forces to address this gap in children’s education by creating Investment Clubs in Boys and Girls Clubs across Mississippi.

During the course of the project, Primerica Financial Services volunteers worked with Boys and Girls Club members on how money works and the principles of investing, budgeting and other areas of financial literacy. After the children learned the basics of money management, they were then asked to put their knowledge to work by investing an amount of play money in stock exchange listed stocks and then monitoring their performance. The teams with the best portfolios received money for their club, and attended a special recognition ceremony with Governor Haley Barbour. The competition included participants from 30 Boys and Girls Clubs.

The program was the brainchild of Colom Foundation President Wil Colom. The idea for the clubs was one he’d had for several years, he said, before joining with Primerica to bring the plan to fruition.

“We are so excited about the outcome of the program,” Colom said. “It is amazing how many children know next to nothing about financial matters. Not understanding the rules of finance limits the future of many young people. The Colom Foundation thought this would be an excellent way to help young people begin to understand the language of money while having fun and earning money for themselves and their Boys and Girls Club. We were most fortunate in partnering with our friends at Primerica Financial Services to make this program an outstanding success.”

The winners in the 9-11 year old category were Pass Christian Boys and Girls Club, West Point Clay County Boys and Girls Club and the Tupelo Boys and Girls Club. The winners for the 12-15 year old category are Pelahatchie Boys and Girls Club, Pass Christian Boys and Girls Club and Tupelo Boys and Girls Club.

The winners received their prizes from Gov. Barbour on March 26, 2004, and received a special tour of the Governor’s Mansion.