Hofstra University students volunteered their time Friday to teach students at Centennial Avenue Elementary School about finances.

Principal Dr. Barbara Solomon says it's important for young people to start thinking about money early.

The Money and Me program teaches students how to balance budgets, savings and investments to make children financially literate from an early age.

"I think financial literacy is important for all kids to know and the younger the better," says Alyssa Lore, a Hofstra graduate student.

The teams of graduate and undergraduate students from Hofstra's Zarb School of Business are dedicating nine Fridays in a row to teach fourth and fifth graders.

The students get fake money they earn by participating in the program. At the end of each class, they put all of the money their class accrued into the bank account.

"It makes me participate more, and it makes me really happy because it feels like you are in a job and you get to answer questions and you get more money," says Kimberlyn Amaya.

The lessons extend beyond the classroom and have an educational foundation.

Superintendent Dr. Deborah Wortham says there is a connection with the ELA and math curriculum.

At the end of the Money and Me program, all children can see how much their class earned with interest for their participation.