Minnesota Business Venture Week 2 2023 – Financial Freedom

Today is Financial Freedom Day at MBV day 4! Today is sponsored by Piper Sandler, one of our biggest donors for bestprep! We are so fortunate for our sponsors who make camp possible. Thanks to our amazing donors and sponsors like Piper Sandler, we can help thousands of students learn and grow to be successful in their future careers! So, thank you so much Piper Sandler for being today’s sponsor! We appreciate you so much! 

Today, we started off the day with a quick company meeting in the morning to get ready for the day, then we went straight to our keynote! Today’s keynote was Jay Robinson from Charles Schwab. He informed us how to save money and how to manage it correctly. He also talked about the difference between a need and a want, in which it is especially important when dealing with money to know what a need and a want is so that you can prioritize your spending. Jay gave us an amazing keynote with interactive elements such as asking the students questions and even had a football on stage to demonstrate what a Hail Mary in the finance world is! All the students had so much fun while also learning a lot and asking lots of questions to learn more about money and how to use it effectively.  

After our keynote we went straight into our philanthropy breakout sessions where students learned more about giving back to the community. This is very important for businesses so that they can have a positive impact, not only on their customers, but the community as a whole. This also puts their name out there and makes them stand out from other businesses who do not donate to others. This was beneficial for our students to learn about, which they can now use in their business plans to stand out.  

After our philanthropy breakout sessions, the students had a break for lunch and then went into their company meetings to further discuss their business plans. After that, they had 2 sessions of financial literacy breakouts that they could pick from: Investing 101, The FAB Life game, Paying for college, Credit, or Identity Theft. They each picked 2 out of the 5 to attend. All these breakout sessions were super informational and beneficial for students to know in which they all gave advice that students will use for the rest of their lives. Investing 101 taught students how to invest correctly with minimal risk. The FAB life game was a simulation with life scenarios where students need to budget for life necessities such as groceries, insurance, rent, transportation and more! Paying for college was all about the tips and tricks for incoming college students. Credit was about credit card interest rates, having parents cosigning on a credit card, and how to build credit. Lastly, identity theft was about how people steal identities and how to keep your identity hidden from the public. All of these topics are so important to know as our students go into adulthood and be prepared as they enter the next chapter of their lives.  

After our breakout sessions, we had a break for dinner and then, to finish off the night, our students met in their company meetings to finish their presentations and add finishing touches because presentations are tomorrow! In their company meetings they finished the last part of their business plans and then practiced presenting their presentations so that they are prepared! Today was a very productive day with lots of time for working on business plans while also having lots of fun and learning new things! We are so excited to see tomorrow’s presentations! We cannot wait to see the students’ hard work pay off!