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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Feb. 22, 2023)
Page 8 February 22, 2023 Financial Tips For Kids 7 Ways Black Parents are Teaching Kids About Money By Danetha Doe Despite economic racism in the U.S., Black Americans are making huge strides. Between 1971 and 2021, Black adults made the most considerable progress in income gains of any racial group, with net increases in income ranging from 12 to 14 percentage points. One reason may be due to the financial les- sons Black parents pass down to their children. 1. Start with games. Monopo- ly is a family-friendly game that can be used as a financial literacy teaching tool and can also intro- duce the concept of real estate investing. For young kids, an- other fun task could be involving them in your grocery shopping. Ask them to help you total up the cost. If you’re paying in cash, ask them to help you count the mon- ey needed to purchase your items. Even if they can’t initially help you, they’re paying attention. 2. Open a custodial account. As soon as possible, open an invest- Black parents are passing good financial habits down to their children. ing account in your child’s name. nancial tasks, and to give them Investing early is a clear path for some visual aids. building wealth; for many people 5. Try talking about entrepre- who transfer assets to the next neurship. Developing entrepre- generation, stock market invest- neurial skills is an important part ing was key to their long-term of learning about money. You wealth-building. could help your child start a lem- 3. Use that piggy bank! In onade stand or other small busi- addition to a custodial account, ness during a school vacation. set up a savings account for 6. Help them launch into finan- your child, and use that as an cial adulthood. Introduce them to opportunity to teach them about the pros and cons of credit cards. saving money and the power of If they are considering college, compound interest. Although have conversations with them interest rates are low on many about student loans. savings accounts, you can still 7. Lastly, stay focused on abun- show them how money grows dance. The high school years are over time. a great time to demonstrate the 4. Make it as real as possible. importance of a positive mindset. Money is an abstract topic — When it comes to money, a pos- until it gets real with bills and itive mindset is called an abun- budgets. That’s why it’s a good dance of money mindset. The op- idea to involve kids in actual fi- posite is a scarcity mindset. Community Health Center Under New Ownership Rockwood Community Health Center Building Acquisition Celebration on Feb. 17, 2023 Photography by Motoya Nakamura/ Multnomah County Multnomah County acquires Rockwood Community Center Building from CareOregon Multnomah County is cel- ebrating the purchase of the Rockwood Community Health Center, which it has operated in partnership with its original owner, CareOregon, since 2010. This East Portland health cen- ter was established to reduce significant barriers to healthcare access for low-income and un- derinsured residents in the Rock- wood area who previously had to travel outside of their neigh- borhood to access primary care, pharmacy and dental services. The Community Health Cen- ter is staffed by five family practice providers, three pro- viders specializing in behav- ioral health, mental health and addictions, and two providers with a community health spe- cialization. This clinic serves more than 8,000 individuals each year. More than 65% of Rockwood patients identify as people of color, and 35% utilize interpretation services. The ceremonial building transfer, from CareOregon to Multnomah County, is a time to celebrate the success of this long-standing partnership to pro- vide much-needed health care to the Rockwood community. “I believe in the investments Multnomah County and CareO- regon have made in Rockwood and look forward to the future of this successful Community Health Center, where so many families will continue to find the care they need,” said Multnomah County Chair Jessica Vega Pederson. “At CareOregon, our goal is to make sure that healthcare works for absolutely everyone,” said Eric C. Hunter, CareOre- gon CEO. “For communities like Rockwood that have historically been underserved by the health- care system, that means working to bring new resources to their community. When we purchased this building back in 2009 with the goal of having Multnomah County open a health center here, we had a vision of creating a wel- coming, community-centered en- vironment. I could not be more proud of what they’ve been able to achieve. On behalf of every- one at CareOregon, I’d like to say ‘Welcome home Multnomah!’” We are Open! 3901 N. Mississippi Ave. • Portland, OR 97227 P: 503.281.0453 Fax 503.281.3408 Web: www.sunlanlighting.com • E-mail: kay@sunlanlighting.com
