NBA Stars Join Goalsetter to Teach Black and Brown Kids How to Become Savers and Investors
Goalsetter, a Black-owned kids and family finance app, announced an initiative to “draft” one million Black and Brown kids to become the next generation of savers and investors, kicking off during Black History Month.
The initial round of the “Drafted” campaign started on Feb. 1 with NBA star and NBPA president Chris Paul “drafting” 100 kids who participate in his Club 61 Leadership Alliance, from his hometown of Winston-Salem, North Carolina, and then passing the ball to notable NBA players and leaders Jaylen Brown, Harrison Barnes, Anthony Tolliver, and retired NBA star Baron Davis.
“Black History Month is a reminder of the hundreds of years that Black people have been a labor force and a consumer class in America," Paul said. "This partnership is about learning from our history to create a strong future that prepares the next generation of Black and Brown kids to be savers and investors. Financial education is a necessary and critical component of creating an equal America."
Each player will draft a minimum of 100 kids who will receive $40 each for their respective savings accounts. Each time a player drafts a group of students, they will ask “Who’s Got Next?” and challenge other fellow professional athletes from the major sports leagues to participate, including NFL, NHL, WNBA, and MLB players.
Each selected student will receive:
A savings account through the Goalsetter app
A deposit of $40 in their individual FDIC insured Goalsetter accounts
Weekly fun financial literacy quizzes designed for kids that are culturally relevant
A Cashola Card (the Goalsetter tween and teen debit card backed by Mastercard) that has game-based financial literacy quizzes attached to it.
As a family saving, financial literacy and smart spending app, Goalsetter makes it easy for the whole family to go cashless and learn how to be money smart.
Founded by Tanya Van Court, a former Nickelodeon and ESPN executive, Goalsetter’s smart money app for families includes FDIC-Insured Savings Account; the Cashola Teen and Tween Debit Card with parental controls, Game-based financial literacy quizzes; "Learn before you Burn” parental control feature on the debit card, and the "Learn to Earn” financial reward component.
“Our mission is to empower the youth of today to fulfill their dreams of tomorrow, and we couldn’t think of better partners to amplify the message of empowerment and achieving goals than these NBA players, who are leaders both on and off the court,” Van Court said.
“Every kid in America needs financial education to achieve success. Goalsetter’s smart banking app puts financial education front and center, and the NBPA’s players are bringing that financial education to families on their home courts all across the country.”
This innovative movement is supported by the NBPA and its members, who are committed to helping today’s youth achieve financial freedom, and is based on research from leading educators that shows that children with savings accounts (regardless of the amount invested) are 6x more likely to go to college, and 4x more times more likely to own stocks as young adults.
“Our players have already started engaging with Goalsetter and using it with their own families,” said Que Gaskins, Chief Brand & Innovation Officer at the NBPA. “We are excited about this opportunity to support them and to work with Goalsetter to spark this movement around financial literacy for kids all over the country.”
Van Court adds, “Ninety percent of wealthy families lose their wealth by the third generation and seventy percent of middle-class Black kids are projected to fall out of the middle class as adults. Every family in our country needs tools that make financial education fun for kids, and Goalsetter couples real-world banking with games that teach the key principles of saving, investing and building wealth.”