Produced by Mireya Garcia, Fox 25, Oklahoma City.
OKLAHOMA CITY (KOKH) — Educator Nancy Pierce will be retiring soon, but she has spent decades teaching Oklahoma children about entrepreneurship and understanding personal finance.
“Forty years of amazing human kiddos, and we have had a lot of kids that are seven-figure kids, lots,” says Nancy Pierce, Entrepreneurship Instructor.
Her lessons contributing to the success of her students.
Nancy's tips for success:
- Write it down: Keep track of all your purchases so you know where your money is going.
- Invest: When you invest your money, and you will watch it grow.
- Save: Saving for an emergency and even for some major purchases, like buying a car, will offer you financial freedom.
- Give back: Find a charity you love and give back what you can.
It's these lessons that are helping her students show off their money smarts in Oklahoma. The Moore Norman Technology Center is declared the Oklahoma Access Zone Champion in the Oklahoma Council on Economic Education’s Economics Challenge. They get bragging rights, a cash prize and valuable lessons.
“It was definitely a challenge, but I know with my teammates it is easier having someone who stands by me with it,” says Hannah Osborne, a high school senior.
The state of Oklahoma has requirements when it comes to teaching children about personal finance, but implementation is different depending on the district. Having a class dedicated to this kind of education has been life-changing for students.
“Way more confident that I was a year or two ago just because I’ve learned so much of all the intricate of preparing my budget and how to spend,” says Brea Ellis, high school senior.
Though there is no wrong time to work on improving your finances. There is an advantage to learning these lessons right before entering adulthood.
“It honestly feels really great, I feel like I have more of an advantage with my future because I know where I want to put my money and how I need to save. Saving at a young age and investing at a young age is really important,” says Charity Moore, a high school senior.
Often early financial mistakes can follow you around for years, and these students say they are happy to know now, so they can avoid that struggle.
“Just knowing how to pay bills or just filling taxes is a big thing now. I think that is very important. I will, for sure, be taking all that knowledge with me,” says Emily Mendez-Cervantes, a high school senior.
Things like late payments will stick with your credit report for years, and possibly impact major purchases later in adulthood, like getting a mortgage for a home.
Again, there is no wrong time to work on improving your finances, but the earlier you start, the sooner you are likely to be where you want to be.
Watch the Fox 25 video here: https://bit.ly/3ak8ZHs