Thomas Morstead said that New Orleans was going to remain a part of his roots regardless of being with the Saints or not, and he continually keeps his promise by making an impact in the community. On Friday, Morstead surprised some students at Fannie C Williams Charter School in New Orleans with starter savings accounts.
Morstead is one of several players, which includes Malcolm Jenkins, who have partnered with Goalsetter through the NFLPA to bring financial literacy to Black and Brown communities in the month of April. Per the media release, as part of the “Dropping Jewels” campaign, each selected student will receive:
- FDIC-insured savings account through the Goalsetter app
- A seed deposit of $40 in their individual Goalsetter savings accounts
- Five years of financial literacy educational tools, which include weekly fun quizzes and games designed for kids that are kid-friendly and 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.
“I am proud of this partnership between the NFLPA and Goalsetter, and I am honored to have the opportunity to lead this effort for our players' union,” Morstead said.
“It is critical that we shed light on the importance of teaching children and families in our communities about the tools that will help them attain financial freedom and establish generational wealth. I believe everyone, both children and adults, can greatly benefit from becoming more fiscally fit and knowledgeable about their finances. It is never too early or too late to learn.”
A study released in 2017 showed that Black and Hispanic communities were on track to have zero net worth by 2053 and 2073, respectively. The impact of the pandemic on these communities has likely accelerated this timeline. By not educating communities about the importance of financial literacy, we will be on the fast track to squandering the massive buying power and economic impact these communities represent.
Goalsetter, a Black-owned kids and family finance app that provides a next-generation, education-first banking experience for U.S. kids and teens, announced today that it has partnered up with the NFL Players Association (NFLPA) to launch “Dropping Jewels,” an initiative focused on helping every kid in America achieve financial freedom and fluency. Through “Dropping Jewels,” the NFLPA is committed to teaching key financial principles to youth by providing nuggets of knowledge that will help them towards becoming the next generation of owners and investors.
Goalsetter teaches kids savings habits early by letting them save for goals they care about, and also pairs that with engaging financial education. The app includes fun quizzes that are based on popular culture, so kids are excited about learning financial literacy in a way that they have never been drawn to before.