Page 14 - Equity Movement Magazine-Issue2

OPEN PASSBOOK SAVINGS ACCOUNT RESOURCE

The Wealthy Child: Laying the

foundation of wealth at an early age

By: Christina Sanders

s we inch closer and closer to a
global economy, more and more
Aparents are realizing that it’s
going to take more than simply a top
collegiate education to provide their
children with an advantage in today’s
overcrowded business and workplace.

Delvin Sullivan, a United States Army
Veteran and Entrepreneur is addressing
this very issue and helping young
children lay their foundation for wealth.
This skillset began while Sullivan was
enlisted in the US Army, he began
studying the economic conditions of
American citizens. Over his 8-year
military career, he discovered that 7 out
of 10 Americans had less than $1,000
in their savings and were generally
undereducated in the principles of financial literally both and adults. “The 7 pillars of economic process (sic) teaches
personally and professionally. you how to earn, save, grow and respect a dollar.” Sullivan
teaches his program in Boys and Girls Clubs across Alabama,
With Americans swimming in over $1.56 trillion in student- schools and youth groups. Although the program is designed
loan debt, according to Student Loan Hero and 80% of for elementary and middle school aged children (9-12),
crimes committed being related to money, Sullivan conspired Sullivan has seen many adults take principles in his program
to create a better way. “I wanted to begin introducing and incorporate them into their own personal finances. “80
children to the economic process early,” said Sullivan in a percent of crimes are money related and my goal is to at
phone interview. The Alabama A&M alum, authored the least cut that in half. If I can teach how to earn, grow, save
book and step-by-step program, The Wealthy Child, which and respect a dollar at an early age, you won’t feel the need
teaches the 7 pillars of the economic process to school age to take someone else’s.”
children. The seven pillars of the economic process include:
generating income, budgeting, banking, establishing credit, Over the last five years of teaching this program according to
making purchases (assets), investing, and giving back. “The Sullivan’s Check on learning survey, 100% of children who
book starts with a little boy that’s 10 years old and is starting go through the program leave knowing how to maintain a
a business. Each pillar has a lesson.” Throughout the book budget and how credit works, the three credit bureaus, etc.
the young boy learns the economic process as he builds and
scales his business to even include employing his In 2010 Sullivan was recognized for his transformative
neighborhood friends. economic work in the community through induction in the
Boys and Girls Club of Northern Alabama. The Wealthy Child
Sullivan believes that if you equip children with the proper is available for purchase on Sullivan’s website.
financial literacy tools, in their own words, it will enable
them to grow to be financially responsible adults, For more information visit: https://thewealthychild.net/.
entrepreneurs and decrease prison sentences among youth
13 | www.equitymovement247.com