100 Black Men of Metro St. Louis Host ‘Dollars and $ense’ Competition To Teach Youth Financial Skills

The competition showcases its youth participants' financial knowledge.

The 100 Black Men of Metropolitan St. Louis hosted a new contest for young people to display their financial prowess.

The “Dollars and $ense” Financial Literacy Competition took place on April 5. It inspired the youth to save and invest their cash and encouraged participants to incorporate these wealth-building skills into their everyday lives.

The young participants helped develop a plan for prospective clients. They created strategies to boost savings while fixing spending issues and managing credit.

“[Financial literacy] is not really talked about in school,” said Carter Higgins, a 7th grader, to First Alert 4.

The contest also wants young people to get an early start on money management. Especially in periods of economic uncertainty, these skills can help navigate times of financial stress.

“Money is kind of limited for most people, inflation is going around,” said Jeremiah Hathorn, president of the 100 Black Men of St. Louis. “But how do you manage that? You manage that with a budget. You manage that with cash flows. That’s what we teach our mentees today.”

“Dollars and $ense” is a national program for the 100 Black Men of America organization. Across chapters nationwide, youth participants can join programs that introduce these personal finance skills. In partnership with State Farm Insurance, the national competition aims to eradicate financial illiteracy among youth of color.

In St. Louis, the program also runs from January to June for high schoolers. Not only does the program teach fiscally responsible principles and values, but encourages attendees to pursue higher education and apply for college.

“The program is designed to introduce students to topics that are challenging, yet reachable,” described the chapter’s website. “Committed students will be rewarded for their effort, become knowledgeable in personal finance and investments, and develop a desire to pursue these topics in a higher educational environment.”

Students can also receive scholarships based on their quizzes, competition scores, and attendance in the free course. The program promotes an integral pillar of the 100 Black Men of America, economic empowerment for the community.

The top three local finishers in St. Louis will head to the national competition in New Orleans while representing their city.