20 April 2023
WICHITA, Kan. (KSNW) – April is National Financial Literacy month
Teaching savings principles is a goal of Wichita’s Youth Educational Empowerment Program (YEEP).
Especially since spending money is easy to grasp, but saving it, needs to be taught.
“Young people wouldn’t know what a budget is, but if you ask them to set a budget, they don’t know how to do it,” Marquise Murphy said.
It is a lesson he has lectured through YEEP since 1997.
“I started going into the schools. I had no idea that the demand for that was so great.”
Twenty-five years later, he’s still teaching and now getting recognition.
“It means everything for us as an organization,” Murphy said.
The City of Wichita named April as YEEP Financial Literacy Month.
“After many years of just staying with it and being disciplined and making sure we are teaching these young people and people starting to see the results of it. It has been so great. And for the acknowledgment of the city, it just really takes us to another level,” Murphy said.
“I really want to get better at managing my money and myself,” said high school senior McKenzie Johnson. She is applying the skills learned with YEEP to her already booming business.
“I got into candle making about a couple of years ago. I wanna say about my sophomore year, Johnson said. “I’m currently expanding to make wax melts, and then I’ve been knitting and crocheting since about elementary school. I would sell hats and scarves here and there to friends.”
Murphy’s message is preparing youth for those big purchases.
“What are kids excited about? The first thing is I need a car. I want a car. Get me a car. I don’t care what it is. Let me have a car, right?” Murphy said. “Of course, everyone is trying to get out of school so they can go to college, and if you don’t have the proper systems in place, what are you going to do? You are going to accumulate a lot of debt.”
Setting youth on a financial incline before the wrong purchase puts them in default.
Right now, YEEP has the April Challenge with a goal of getting 1,000 people to save. Its mascot, Mr. Coolmoney, will stop at different stores and gas stations to pay for groceries or gas so people can save that money and put it in savings.
To participate and win prizes, text “saveict” to 54244.