Group gets $53,640 for cent-smart teenagers

By Samieh Shalash | 247-4537

February 24, 2009

HAMPTON - A financial literacy project aimed at teens got a $53,640 boost Monday with a grant from State Farm.

Alternatives, a local nonprofit youth development agency which is partnering with Old Point National Bank, will be using the grant to train 40 high-school age students on everything from checking accounts to budgeting, said Allyson Graul, director of youth civic engagement.

Once they've learned the basics, students will visit elementary and middle schools to teach younger children basic financial concepts through hands-on activities, Graul said.

The grant money will go toward training materials, a retreat to kick off the project, and a mall-style kiosk for youth participants to begin their own businesses.

Graul said the plan is to sell youth-made products such as handmade jewelry and airbrushed T-shirts at the Hampton Teen Center, which is scheduled to open this summer.

Students will learn to develop a business plan and run the kiosk as part of the financial literacy project, she said.

The grant will also be used by members of WORD!, a youth-run social activism magazine that publishes twice a year, to print a special edition by July that focuses on money matters for young people that will be distributed in Hampton's four high schools.

There are about 15 spots for students interested in participating in the financial literacy project, Graul said.

For more information, call 838-2330. The deadline is March 6.