“A lot of what I've seen is that Indigenous families struggle with finances and financial literacy,” says Jaylene Bass-Smith. “And my goal is to give those skills back to the community in the form of coaching.”
Smith, a 19-year-old student from Yellowknife, is the latest recipient of a $5,000 grant from the Elliott Michael Brown Foundation.
“It felt really good,” he says. “I didn't expect to win.”
Smith said he plans to use half of the money to pursue a degree in financial planning and the other half to start his entrepreneurial goals this summer.
Watching his friends and family struggle financially for years, living paycheck to paycheck, had a huge impact on his life. Smith now wants to share everything she's learned and give back to those who need it most.
“We want to make sure that in the future, Indigenous families have enough retirement funds so they don't have to worry about struggling to make monthly payments,” Smith says. “I really want to see my family succeed in life.”
Retirement planning, buying a home, budgeting, and even saving for your children's education are some of the ways to build a strong foundation of financial health, Smith says.
“And take back control of our money and our lives,” he added.
Verna Bass is Smith's mother.
“He saw a lot of the financial problems and hardships that I had to deal with because[I was]a single mom,” she says.
Caring for three children, going to school, continuing to work, and putting food on the table was a harsh reality for the Base family.
Over the years, Bass says she has learned a lot from her son and has begun to incorporate his son's coaching into her daily life.
“I know, I was selfish in my own way too. Now when I see him go out and try to help other families, in a way he's helping me too. ” she says.
“And when you hear something like that from your 19-year-old son, it's like, wow, it really blows my mind,” she added.
Mr Smith said his ultimate goal is to start a financial company, field a team of other Indigenous coaches and one day bring generational wealth to northern families.
As for advice, Smith told CKLB News. “Start now, because the sooner you learn how this whole financial system works, how investing works, how saving works, the better.”
