Financial Football Tackles Financial Literacy

CHICAGO (MainStreet) —Following its seventh annual Financial Literacy and Education Summit, the Federal Reserve lightened the mood with a visit from Hall of Famer and former Chicago Bears linebacker Dick Butkus. The gridiron legend came by to introduce the newest version of Financial Football, a computer game put together by the Federal Reserve and Visa, Inc. to educate children about the realities of the marketplace.

“I know a lot of you students probably never heard of me,” Butkus joked to an auditorium packed with local high school students who, based on their cheers, most certainly had.

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Students from Lindblom and Theodore Roosevelt high schools in Chicago attended the event and split into two teams to play a demo game. As staff loaded the presentation behind him, Butkus spoke to the students about the importance of paying attention to finance and budgeting even at a young age. He even credited his start as a football player to good influences about his money at an early age 30.

“At 14 I lied about my age and I was a furniture mover--I got 16 bucks a day,” Butkus said. “[My girlfriend] worked at a bank, and she was the one who knew how to deposit. So I was able to work and save so that during the high school football season I was able to practice.”

Not everyone is lucky enough to have such role models early in life however, as Butkus pointed.

“I was talking to a [current] NFL player," he said. "He guaranteed me that 80% of the guys who are playing today, they’re going to go bankrupt in three year. It’s a deal where people think it’ll never end. It’s like your career, you think it’ll never end.”

But of course, it always does, and without proper planning, it’s easy to end up like those football players who make millions of dollars only to find themselves back in their parents’ basement by age