HOUSTON — April is National Financial Literacy Month, a time dedicated to promoting the importance of financial literacy and financial education. Mason Makes Money Fund (MMMF), a nonprofit organization that provides entrepreneurial and money management education to kids who own and operate their own businesses, is committed to providing tools and resources to help youth establish a solid financial foundation and successful future.
In observance of National Financial Literacy Awareness Month, MMMF will be hosting several in-person and virtual events taking place throughout the month of April. Included are a weekly “Business Basics and Money Management Series” with Harris County Public Library’s La Porte Branch, and a weekly financial segment on the organization’s Mason Makes Money Radio in partnership with All Real Radio. MMMF will also host Kids Konnect, a free online event, featuring financial professional, Mia James. She will discuss the importance of financial literacy, while providing some useful tips along the way.
“Our organization provides education and resources to help our next generation become financially savvy and secure,” said Candace Okin, founder and CEO of Mason Makes Money Fund. “Their ability to understand and implement money management education successfully will only serve to maximize their professional and personal endeavors. Unfortunately, there is not enough support from traditional schools to prepare youth accordingly. That’s where we come in.”
No stranger to financial hardships, Okin endured a corporate layoff in 2019 that put her in a difficult situation. She vowed to use her experience as a teachable moment, and to equip her son Mason with integral financial literacy skills. It was during this time that she authored her first book, “Mason Makes Money” which chronicles a child’s journey through fundamental concepts of money management and entrepreneurship focusing on the areas of saving, budgeting, and spending smartly. A supplemental workbook “I am My Own Boss” helps kids build upon their strengths, set goals, and create a plan for their business and their money. Both are resources for helping youth understand the basics of running a business and for helping parents navigate conversations with children about financial literacy and entrepreneurship.
“I wanted to transform my financial mistakes and lessons into an opportunity to teach my son and other youth key financial concepts and terminology,” said Okin. “It is important that we are transparent with our kids and demonstrate that financial literacy is a life-long commitment.”
What began as an effort to introduce kids to the fundamental concepts of money management and entrepreneurship has grown into a movement that has positively impacted thousands of individuals through financial tools and resources. Mason Makes Money Fund teaches core money management principles and concepts that are easy to follow and are applicable for both kids and adults through the lens of entrepreneurship.
1. Create a budget: Create a realistic budget by taking time to calculate and monitor your monthly income and expenses.
2. Track your spending: Develop a system for tracking the money you spend. This will be helpful for sticking to your budget.
3. Limit debt: Avoid taking on unnecessary debt. When doing so, ensure payments fit within your established budget.
4. Save. Save. Save.: Set aside money each month that can be used for special occasions, emergencies, and the future.
5. Live within your means: Live within your means by avoiding unnecessary expenses and making smart purchasing decisions.
6. Maintain balance: Be responsible with spending. Save for the things that you need. Still have fun by getting a few reasonable things that you want.
For more financial tips and a complete list of MMMF’s upcoming events and activities, please visit www.masonmakesmoneyfund.org.
About Mason Makes Money Fund
Founded in 2020, Mason Makes Money Fund is committed to igniting the enterprising spirit within youth between the ages of seven and thirteen by creating an empowering environment consisting of mentorship, education, and dedicated support systems. Through free in-person and virtual workshops, participants receive access to entrepreneurial and financial tools and resources related to marketing, budgeting, customer service, business planning and tax preparation. Each year the organization awards three grants to youth entrepreneurs based on a range of criteria including business concept, active involvement, and external support. To support young entrepreneurs along their journey, MMMF also hosts Kids Konnect, a free bi-monthly online event for learning, networking, exchanging ideas and sharing best practices.
To learn more about MMMF and the organization’s many tools, resources, and events, please visit www.masonmakesmoneyfund.org.
