Financial Matters: Financial camp

PORTSMOUTH, Va. (WVBT) - Two-a-days are over -- now it's time for training camp!

Here to tell us more about their Financial Football Training Camp is Sylvia Sutherland with BayPort Credit Union.

BayPort Credit Union partnered with three different Boys and Girls Clubs of the VA Peninsula to conduct a financial football camp by using the game of football to teach kids about money.

Q: So how can a football game teach kids about money management?

A: Visa has developed an on-line financial football game where a football game is simulated. Students are divided into two football teams; they must answer questions about money that they learned during the training period. Their answers allow the team to move down the football field. The team scoring the highest points wins the game.

Q: I understand that a football game maybe fun, but how did applying money management keep the game alive?

A: First of all money talks. We showed the kids how interest works to build a savings plan that could lead to becoming a millionaire. We rewarded their good choices with "BayPort Dollars" and gave them the option to save or spend their money every day at the "BayPort Store." They had tempting items to purchase like water Frisbees, silly bands, bubbles, etc. At the end of the week, some kids had lots of money that was building interest, while others had no money, but lots of stuff that soon lost their interest. It was a great way for the kids to understand the concept of savings and interest.

Q: I understand that BayPort also awarded your top savers.

A: Yes, at the end of each camp we played a "Super Bowl Game" where the kids played against each other to answer questions about money management skills. One team became the "Super Bowl Champs." Then we awarded the top 3 savers as the MVPs with savings bonds. In total, BayPort awarded 18 kids with a $50 Savings Bond each.

Q: How can others learn about this football game?

A: BayPort has provided many free financial tools on their website. We encourage parent to play with their kids, as well as teachers to use this game to teach money management skills to their students. So check us out at www.bayportcu.org .