Financial literacy is a graduation requirement for high schoolers in New Jersey, but Stefon Bowman, a financial literacy coordinator at KIPP TEAM Academy in Newark, continues to go beyond just the requirement, emphasizing the importance of teaching this topic to Newark’s youngest students and their families. Last week, for the start of Financial Literacy Month, Bowman hosted a Financial Literacy Night event for elementary and middle school students and their families to learn about a key topic within financial literacy: entrepreneurship. 

Attendees listened to half a dozen Newark entrepreneurs speak about challenges they faced as they started a business as well as advice for students. In addition to that panel, middle school students hosted a workshop for elementary students to show off their knowledge and encourage them to find their entrepreneurial passion, and some students and families highlighted their existing businesses with booths. 

While Bowman’s daily work is with middle schoolers, he knows the importance of extending knowledge to the entire Newark community; thus, he focuses on budgeting, financial decision-making, savings, investments, entrepreneurship, and generational wealth. One goal of his Financially Lit program is for students to share what they learn in the classroom with their families at home. ”When a family has that knowledge, they can carry it over to their own networks. The vision is to make a compound impact in Newark.”

“When I grow up, I want to be an entrepreneur,” said eighth grade student Cyriah Jones at the event. “My aunt inspired me because she owns a successful cosmetics company. When I started my business, I was making keychains, but now I create makeup, too.”

James Draughn, a sixth grader, worked with his mother, and the two sold out of their homemade lemonade, earning $150 for the night.

Photos courtesy of KIPP NJ.