Approximately 25 sixth, seventh and eighth graders from the Frisco branch of the Boys & Girls Clubs of Collin County (BGCCC) learned about making positive choices with their money at a financial literacy camp hosted by Capital One in Plano on July 23.

At Capital One’s campus in Plano, Capital One Collin Country Market President David Haufler discussed how to create and maintain a budget and shared information about savings and checking accounts. Under the guidance of Capital One associates, the students were then given examples of different income and expense scenarios and were assigned the task of identifying which scenarios featured ideal budgeting tactics.

The students then visited the Frisco Target on Preston Road, where they put their knowledge to the test in a budget challenge requiring them to fill a basket based on a $100 budget.

“Capital One’s Financial Literacy Camp for BGCCC provides a foundation for these young people to understand the discipline of saving and the long-term value that comes from implementing fiscal responsibility early on,” said Haufler. “In today’s society, it is easy to become more concerned with tangible possessions than to work and save money. At Capital One, we believe it is important to learn how to manage money wisely at a young age, and early education has been shown to be one of the most important determinants of future success for children and youth.”

The Capital One Financial Literacy Camp is a three-week program in which Capital One associates partner with the BGCCC to help teach financial literacy and life skills to sixth, seventh and eighth graders. Each day the camp focuses on a different theme, including “Spend Well,” “Budget Well,” and “Give Well,” providing students valuable information as they participate in hands-on activities that will help financial literacy lessons come to life.

“Capital One is one of BGCCC’s most significant partners, and we are pleased to participate in such a meaningful program that teaches our kids the core stepping stones for life-long success and financial security,” said Shinetra Adams, assistant branch director for BGCCC. “Perhaps one of the most exciting aspects of the financial literacy camp is hearing about our kids going home and sharing what they’ve learned with family members. Through the camp, our kids learn what it really takes to achieve future goals so they feel empowered to manage financial responsibilities, and they can’t wait to share what they’ve learned with others.”

By partnering with the BGCCC, Capital One is addressing this problem in its early stages. According to a Capital One 360 survey, a quarter of U.S. teens don’t know the difference between debit and credit, incorrectly thinking that using a debit card is borrowing the bank’s money. Capital One believes that reaching young people before they leave home and are out on their own empowers them to take control of their financial future.