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Young Bucks Financial Literacy

Young Bucks

A Youth Financial Literacy Program

Young Bucks, a financial literacy program for youth, is part of The PRC’s commitment to providing our children with the education they’ll need to fund their futures and protect their purpose.

Objectives & Outcomes

1.) Through training and field practice, today’s youth will have a clearer understanding of how money works, apply what they’ve learned to enhance their financial well being, and intuitively teach their children to do the same.

2.) Through simple education on financial principles, our youth will see a huge improvement in their financial lives in comparison to their parents’.

3.) By helping build character, the program contributes to the transition into better relationships, sustainable families and healthier communities.

Target Population

Youth ages 12-23 years old, although the program is open to and beneficial to all everyone.

Program Description

Knowledge isn’t power, applied knowledge is power. Our program is about teaching our youth to make smart money decisions early by putting into practice habits that will ultimately create wealth and financial independence.  By using interactive learning techniques like games and hands on experience, our program fosters discipline and a foundation for wiser money outcomes in the future. The Young Bucks program is very interactive. There will be group activities, competitions, and field trips that all work together to develop our youth and influence their behavior.

Topics:

  • Bank on It – an introduction to bank services
  • Check It Out- how to choose and keep a checking account
  • Setting Financial Goals –money management fundamentals
  • Pay Yourself First – the importance of saving and ways to do so
  • Borrowing Basics – an introduction to credit
  • Charge It Right – credit reports, FICO score, and credit cards
  • Paying for College and Cars – financial aid and loans (i.e. car and student assistance)
  • A Roof Over Your Head – informed decisions on apartments and mortgages

Sample Activities

  • Pop Quizzes on the previous meeting’s financial topic
  • Good grade on a school project or assignment
  • Caught positively helping or encouraging another classmate
  • Field trips to colleges, car dealerships, and banks.
  • Classroom turned Grocery Store
  • Guest Speakers

We have to take responsibility for teaching our children about the basic financial necessities to ensure their quality of life. The Young Bucks Financial Literacy Program closes the gap between the education system and real life.

Recent Youth Financial Education Statistics

Ø  Only 59% percent of the young adults in Generation Y (ages eighteen to twenty-one) pays their bills on time every month. (2008 Financial Literacy Survey National Foundation for Credit Counseling, Inc. and MSN Money)

Ø Almost 50% percent of those who closely monitor their finances say that they learned about personal finance from their parents or at home. (2008 Financial Literacy Survey National Foundation for Credit Counseling, Inc. and MSN Money)

Ø  Only 34% percent of parents have taught their teen how to balance a checkbook, and less than that has explained how credit card interest and fees work and 93% percent of American parents with teenagers report worrying that their children might make financial missteps such as overspending or living beyond their means. (Charles Schwab’s 2008 “Parents & Money”)

Ø  85% percent of college graduates plans to move back home after graduating. (Twentysomething Inc. 2010 survey) The rate has risen from 67% percent in 06’. (Jessica Dickler, CNN staff writer)

Ø  Around 69% percent of parents admit to feeling less prepared to give their teenager guidance about investing than they do having the “sex talk” with them. (Charles Schwab’s 2008 “Parents & Money)