Per Capita/Trust Account Issues

Some tribes are receiving income from gaming and other ventures and distributing it to tribal members in the form of per capita payments or trust accounts, including to youth.    Reaching out to the youth before they receive these payments and assisting with the education of their parents is also important for financial education programs to consider.  To a young person, this money can be the source of huge temptation to go out and buy something that’s wanted rather than saving the money toward a larger goal down the road.

Ask your young participants which they would rather have: a new car now or a large down payment for a house of their own in a few years? Cars wear out and have to be replaced, but the investment in a house is usually one of the best long-term investments they can make.

Help the young people in your classes learn the value of delayed gratification. The “Exploring Wants Versus Needs” section in the Adult Basic Financial Education & Issues area of this Web site can help them understand the benefits they’ll receive from saving money instead of spending it immediately.

The New Assets committee of NFEC is tackling this very issue of new income for the tribes and their members, and we encourage you to work with this committee in creating your program. We welcome new requests for assistance, advice, and partnering to create better tools for helping Native people manage this new challenge to financial education.