Business camp for kids

July 28, 2008 10:01:14 AM PDT
With all the bad news about the economy lately, it's hard not to be thinking of ways to be smarter with your money.Some local students are getting a jump start on that with a unique summer camp.

Education reporter Art McFarland explains the business lessons they are learning.

Some New Jersey teens decided it would be a good idea to spend part of their summer studying business and economics.

"Coming into this program, I was really, like, naive to the business and the economy, like, I was in my own little world; wasn't really part of, like, watching the news or stock or anything, so I want to be able to understand it better," said Beverly Yang.

Fairleigh-Dickinson University has hosted the teen business camp for the past six years. The two week program is run by the Rothman Institute of Entrepreneurial Studies.

"Seven out of ten students want to start their own business someday, so we said, "Why don't we help teach these folks?" said James Barrood, Executive Director of Rothman Institute.

Students are already aware of skyrocketing gas prices, which hurt businesses and families, the mortgage mess and the crisis in the housing industry.

"It's good to know why everything is the price it is," said Shruthi Harve.

Some consumers as young as these kids in the program face serious economic problems.

"The average student has $1,500 worth of debt as they go into their freshman year of college," adds Barrood.

Students in the program cover everything from how to become entrepreneurs to how to be successful and productive employees. But they all recognize that a very important topic is how to handle their own personal finances.

"With the current downturn in the economy, people not handling their finances correctly is part of the problem," said Toby Kraft.

Program organizers say they want to help kids avoid becoming victims of the economy.

For more information on the program, CLICK HERE.

STORY BY: Eyewitness News reporter Art McFarland