experiential learning

Financial education classes and workshops are mandatory for tribal youth residing on the Colville Indian Reservation in north-central Washington. In early January 2015, 193 students at Lake Roosevelt High School participated in a $pending Frenzy workshop.

In 2012, First Nations partnered with the Office of the Special Trustee for American Indians (OST) to offer the $pending Frenzy with Colville youth. The $pending Frenzy is an interactive financial education workshop that allows tribal youth to practice budgeting and spending a large lump sum of money. Developed by consultant Shawn Spruce and First Nations Development Institute, the workshop’s popularity has skyrocketed over the past three years and more than a dozen tribes have adapted the $pending Frenzy model for their tribal youth.

At Lake Roosevelt High School, students received $40,000 in play money to pay for real-world-like expenses such as rent, utilities, car payments and insurance. Additionally, students learned to budget money for educational expenses such as tuition and books.

Students also learned how to manage their Individual Indian Money (IIM) accounts, which they can access when they turn 18. They learned about current IIM interest rates versus commercial banking interest rates, what their account options are, and how to best manage their monies.

Tribal leaders and educators on the Colville Indian Reservation have experimented with a number of different financial literacy models for tribal youth. According to Fiduciary Trust Officer Margie Hutchinson, “The $pending Frenzy has been the most effective model so far. Students and teachers love it. In fact, we are planning more workshops in April and May for our other high school students.”

More and more tribes like the Confederated Tribes of the Colville Indian Reservation are making financial education classes and workshops mandatory for tribal youth. For more information about hosting a $pending Frenzy workshop in your community, please contact First Nations Program Consultant Shawn Spruce at agoyopi@gmail.com.

By Sarah Hernandez, First Nations Program Coordinator

Seneca students during their $pending Frenzy

Wouldn’t it be nice if financial education was offered in a dynamic, interactive format where individuals can try out the skills that they are learning and gain confidence to manage their money? These workshops, often referred to as “financial simulations,” give youth (and adults) the chance to practice managing their money in a safe environment.

On June 30, 2014, First Nations Development Institute (First Nations) offered an interactive workshop specifically tailored to Native American youth receiving minor’s trust payments. Four certified financial literacy trainers from the Seneca Nation of Indians – together with experts from First Nations – hosted the “$pending Frenzy” for Seneca Nation youth. This workshop provided the youth with play money in the amount of a tribal annuity payment to learn about a range of spending and investing options. Students were asked to make a series of budgeting decisions over a two-hour period. The model was developed in response to demand from certain tribes who were struggling with how to prepare their youth for this once-in-a-lifetime event.

Seneca students getting their "cash" to budget and spend

The $pending Frenzy workshop is based on experiential learning principles – the belief that youth learn by doing. Students learn to use a bank to cash their check, and then are asked to make decisions about buying a car, buying a home, and balancing their wants and needs while budgeting their money. Unexpected emergencies and opportunities were presented to the youth in the form of “Cards of Fate,” which helped them learn to plan for unforeseen life events.

Justin Schapp, assistant to the Seneca Nation of Indians’ treasurer, coordinated the event and said the $pending Frenzy was well-received by the students. “People need to be educated as to how long you really can make money last” was the thought of one participant. Another student noted that “budgeting it out so it will last me a long time” was one of the biggest challenges or hardest parts about handling a large sum of money.

The $pending Frenzy is similar to “Crazy Cash City” events that First Nations has hosted, mirroring the belief that learning by doing is the most effective approach for helping youth develop financial skills. The Crazy Cash City workshop is a 90-minute reality fair in which students have to navigate a series of simulated financial tasks designed to teach basic budgeting and banking skills. It is designed to be fun — since they are spending play money and not really buying things — but it is also informative and highly interactive. All participants are given a folder containing a fictitious family profile that listed what their income is, the income of a spouse, the ages of any children, and any outstanding debt they have or benefits they receive. The youth then visit about 10 booths that provide various choices for housing, transportation, child care and more, and are asked to make smart financial decisions based on their family profile.

Pondering financial options at Chief Dull Knife

In early June, First Nations conducted a Crazy Cash City workshop in coordination with the Chief Dull Knife College cooperative extension service for youth on the Northern Cheyenne Indian Reservation.

“There is tremendous demand for effective financial education for Native youth,” said Sarah Dewees, First Nations’ senior director of research, policy and asset-building programs. “We are honored to have worked with so many tribes and Native nonprofits to help provide financial education in their communities.”

By Tawny Wilson, First Nations Program Officer

Purchasing decisions being made at Chief Dull Knife

Tag Archives: experiential learning

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