Hundreds of kids learn how "money rocks"

NORTH CHARLESTON (WCSC) - Even on a Saturday, hundreds of kids intently listened to a lesson on money management.

The annual "Money Rocks!" Youth Financial Literacy Summit was held at R.B. Stall High School in North Charleston.

Hosted by the Homeownership Resource Center and Junior Achievement of South Carolina, the all-day seminar focused on the oftentimes limited financial knowledge of young people aged 12 to 21 years old.

"They get their first job, they have their first paycheck, and then they start using a debit card and then they end up with overdraft fees -- which just wastes all the money they just worked for that week," Homeownership Resource Center Director Debbie Kidd says.  "So we want to teach them good skills now so that they'll have them when they're adults."

In its third year, the summit added an additional lesson on car-buying.

"We know we're all anxious when we go to the car dealership," Family Services Development Director Jenna Johnson said.  "We want to know, 'how do I talk to the salesman? What are they getting me into?'  We want them to be smart and educated."

Live 5 News Anchor Ann McGill also shared her personal tips for saving money.

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