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Money$kills Camp

Financial Literacy for the 21st Century

Money$kills Camp at Bethel College is camp that helps students learn more about saving, spending, investing and understanding money. Camp sessions will include hands on activities, projects, investigation and the creation of a business plan.

To be added to the mailing list for upcoming Money$kills Camps, please e-mail us at moneyskillscamp@bethelks.edu.

• The Importance of Financial Literacy

Making thoughtful and informed decisions about your finances is more important than ever. Several trends are converging that demonstrate the importance of financial literacy.

1. More financial decision-making is landing on the shoulders of consumers. Many companies have shifted their retirement plans from traditional pension plans to those requiring employees to participate, pay part of the cost and make investment decisions. 401(k) plans are the best example of this.
2. Social Security used to be seen as a major source, if not the major source, of retirement income. Now it serves more like a “safety net” that will provide enough only for survival, not enjoyment.
3. We are living longer. This means that we must have accumulated more funds before retirement to cover living expenses over a longer time. Otherwise, we could become a burden for our families.
4. The financial environment seems like it is changing faster. Bull markets, bear markets, rising interest rates, falling interest rates and the increased visibility of finances in the press can make creating and following a financial path difficult.
5. There are more financial options. Hundreds of credit card options, several types of mortgages, different types of IRAs and the ever-growing number of investment options further complicate financial decision-making.
6. There are more choices of financial services companies. Banks, credit unions, brokerage firms, insurance firms, credit card companies, mortgage companies, financial planners and others are all trying to get your business. The growth of the Internet brings even more.
7. The “numbers” seem like they have gotten larger. Costs and wages have generally continued to rise to the point where having an income or “retirement nest-egg” that several years ago would have seemed luxurious, now just seems barely adequate.

• Economic literacy quiz from the National Council on Economic Education
• Request a Speaker

Looking for a Guest Speaker?

Dr. Allison McFarland, Director of the Money$kills Camp is available to speak to your Harvey County church, school, or community group about Financial Literacy and the Money$kills Camp.

For more information and to schedule a speaking engagement, please email moneyskillscamp@bethelks.edu.