Did you know:
73% of teens believe they will be earning “plenty of money” when they’re out on their own.
Teens predict an average salary of $145,500 based on career interests.
Only 41% consider themselves knowledgeable about how to budget money.
34% think they know how to pay bills.
Communities In Schools of Mid-America recognizes that financial literacy is a crucial life skill that is vitally important for young people as they begin to navigate the complex world of managing their finances. Financial decisions have far-reaching consequences, and CIS of Mid-America sees that teaching young people the fundamentals of money management is essential. That’s why our FutureNow: Finance program has been so successful. The program, which will visit 16 schools during the 2022-2023 academic year, helps students understand the realities of preparing for a solid financial future. Here are some reasons why FutureNow: Finance and financial literacy is so important:
Helps build a strong financial foundation
Financial literacy helps young people understand the basics of financial planning, budgeting, and saving. Students can build a strong foundation for the future by learning how to manage money effectively. During the event, the FutureNow: Finance program provides students with a fictional occupation and salary based on their educational plans after high school. To help make the event meaningful to each person, students complete a survey before the event that details the kind of life they hope to have once they reach their mid-twenties.
Prepares young people for the real world
Financial literacy equips young people with the knowledge and skills to make informed financial decisions. This includes understanding the different types of financial products, such as savings accounts, credit cards, and loans. It also involves understanding how to budget, save, and invest their money. During the event, students visit different tables to learn about housing, transportation, childcare, food, and other essentials. Students learn about charitable giving and what to do when unexpected events take place.
Reduces stress & increases decision-making skills
Financial stress is a significant problem for many young people. By being financially literate, they can better manage their money, reduce their debt, and increase their financial security. This, in turn, can reduce their financial stress and improve their overall well-being. By teaching young people how to make informed financial decisions, they can also learn to improve their overall decision-making skills. Students learn to weigh the pros and cons of different financial options, evaluate the risks and benefits, and make sound financial decisions that align with their goals.
Promotes financial independence
Financial literacy is critical for young people as they move towards financial independence. By understanding how to manage their money effectively, they can take control of their financial future and avoid common financial pitfalls.
You can help
FutureNow: Finance explores financial literacy topics in an entertaining, informative, and impactful way. It equips students with the knowledge and awareness they need to think about and make informed financial decisions, build a solid financial foundation, and achieve their financial goals. Investing in financial education for our youth helps students obtain the resources they need to face life’s challenges and recognize the importance of healthy money management.
You’re invited to participate in some of our FutureNow: Finance events. Depending on the number of participants, 17 to 46 volunteers are needed for every event. This year we’ve already been to several schools, and there’s still time to sign up to volunteer at these upcoming sessions:
Southeast High School, April 5, 2023
Guadalupe Centers High School, April 12, 2023
Topeka High School, April 26 & 27, 2023
Topeka West High School, May 4, 2023
Special thanks to Miranda Carpenter for some of the information found in this article.