Overview of Money Matters: Make It Count^SM

In order to enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens, Boys & Girls Clubs and Youth Centers focus on three priority outcome areas: Academic Success, Healthy Lifestyles, and Good Character and Citizenship.

Money Matters: Make It Count^SM  is a Targeted Program in Boys & Girls Clubs of America’s Education Core Program Area that supports the priority outcome of Academic Success. It is geared toward financial health through behavior change and the building of decision-making skills and confidence. A 2018 study from the American Psychological Association reported that 81% of young people aged 18-21 indicated money is their top stressor.¹ As a key program supporting Academic Success, Money Matters helps teens overcome this college and career readiness gap by preparing them to succeed as they begin to manage their financial lives.

Since 2004, Charles Schwab Foundation has helped more than 1 million Club youth gain critical money management skills such as goal setting, budgeting and saving. Money and money management affect teens’ future work lives: career preparation and selection, managing benefits and earnings, employability, and being “present” for family and other responsibilities without the distraction of financial stressors. Equally important, through Money Matters and related programs, teens learn life skills: responsibility, self-confidence, communication, problem solving and decision making. Financial literacy can lead to workplace readiness, lifelong financial stability and overall success – a win for workers, employers and communities.

Money Matters was designed to increase the financial literacy skills of Club teens. The program aims to provide world-class financial education through the Club Experience, unleashing the full potential of teens to become productive, caring, responsible citizens. Money Matters equips teens with the decision-making skills to put them on the path to financial well-being and lifelong success. It was designed to lead to the following outcomes:

• Behavioral change in budgeting, saving and investing; managing credit and debt; and postsecondary planning
• Strong decision-making skills around finance
• Confidence in knowledge of financial products, tools and services

Education Core Program Area

Education programs complement and reinforce what youth learn during the school day, while creating experiences that invite them to fall in love with learning. Rooted in social-emotional development practices, programs in this area enable all youth to be effective, engaged learners who are on track to graduate with a plan for the future. As an informal learning space, Clubs and Youth Centers have an opportunity to offer both remediation and enrichment, all while inviting youth to discover and pursue their passions through experiential learning. Targeted Programs and High-Yield Activities in this area are linked to the Academic Success priority outcome area.

At all developmental stages, Education programs prompt youth to plan and prepare for the future. This includes observing and practicing the social-emotional “soft skills” that lead to employability, exploring career options, and engaging in programmatic experiences that prepare youth to learn and work beyond high school. Programs and experiences supporting employability encourage youth to explore career options and the postsecondary pathways to their chosen career, develop skills necessary for success in postsecondary education and the workforce, and apply their skills through real-world experiences.

Youth development practices that support teaching and learning are core to the quality of Education programs. Effective Education programs, when facilitated with high-quality youth development practices, help youth develop the attitudes, behaviors and skills needed to become effective, engaged learners who are on track to graduate with a plan for the future.

The Education Core Program Area develops the following key skills for Academic Success:

• Identifying and Solving Problems
• Planning and Carrying out Investigations
• Analyzing and Interpreting Information
• Communicating
• Collaborating
• Persevering as a Learner
   

The Education Core Program Area also develops the following key skills for Postsecondary Readiness:

• Goal-Setting
• Planning
• Evaluating
• Ethical Responsibility
• Impulse Control
• Career Awareness
• Postsecondary Awareness
• Self-Efficacy
• Perseverance

Financial literacy skills are also critical in preparing youth for postsecondary success, and the Education Core Program Area also develops the following financial literacy skills:

• Money Management
• Earnings, Savings and Investing
• Risk Management
• Numeracy

Education Outcome Statement: To enable all youth to be effective, engaged learners who are on track to graduate with a plan for the future.

Education Skills: In order to successfully learn and work, youth need to build not only academic skills, but social-emotional skills. Social-emotional skills help youth build healthy relationships with themselves and others, recognize and manage emotions and solve problems. All of the education programs, including Money Matters, are designed to build the academic and social-emotional skills that enable youth to become effective, engaged learners who are on track to graduate with a plan for the future.

Youth Development Professionals’ Role in Academic Skill Development

Positive youth development is an intentional approach that engages youth in their communities, schools, organizations, peer groups, and families in a manner that is productive and constructive. It recognizes, uses and enhances young people’s strengths, and promotes positive outcomes for young people by providing opportunities, fostering positive relationships, and furnishing the support needed to build on their leadership strengths.²

Youth development practices that support teaching and learning are core to the quality of education programs. Effective education programs, when facilitated with high-quality youth development practices, will help youth develop the attitudes, behaviors, and skills needed to become effective and engaged learners who are on track to graduate with a plan for the future.

Youth development professionals can help all youth become more effective and engaged learners with the following practices.

• Model curiosity and encourage youth to ask questions.
• Aim for co-inquiry as a “guide on the side,” not a “sage on the stage.”
• Engineer for success and allow for mistakes. While youth development professionals provide the support necessary for youth to successfully complete projects and activities, they also include enough challenges so youth have the opportunity to learn from their mistakes.
• Help youth connect what they learn to previous experiences.
• Ask questions to check for understanding and prompt youth to think about their thinking.
• Teach learning strategies in addition to content so when youth learn new things, they also learn how to learn more effectively.
• Attend to different learning styles with multiple options for engagement, representation and expression.

Youth development professionals help all youth stay on track to graduate with a plan for the future with the following practices.

• Give youth a voice in education program activities and establish multiple opportunities for youth to make choices, have input, or share leadership roles in the Club and Youth Center’s programs and activities.
• Engage community partners to serve as mentors and volunteers to enhance programming.
• Model positive workplace behaviors and incorporate opportunities for youth to practice them in the Club and Youth Center.
• Help youth connect experiences and interests to career opportunities.

Positive Youth Development Supports Character and Social-Emotional Development

All Boys & Girls Club and Youth Center programs offer opportunities for youth development professionals to model, recognize, reinforce and reflect on character development. Positive youth development provides direction for how you interact with, engage and model behavior for youth. You get to shape the lives of young people every day. As a result, you set the expectations and show youth what essential character traits (e.g., caring, citizenship, fairness, respect, responsibility and trustworthiness) mean, and how they look. These character traits come to life when youth practice social-emotional skills like teamwork, conflict management and emotional regulation.

Youth can start to build character using “caught and taught” approaches. Youth “catch” social-emotional skills when they observe youth development professionals modeling them, and when they interact with peers. Youth can also be “taught” skills to build good character when the skills are explicitly introduced and practiced during program sessions and activities.

Use this formula to understand how character develops over time:

Youth Development Professionals Model Good Character + Youth Practice Skills Regularly = Character Development

Youth development professionals facilitating Money Matters can model good character in the way they support all youth, offer feedback rather than criticism, and encourage honesty and responsibility.

To build character traits, include many opportunities for youth to practice the social-emotional skills embedded in Money Matters. These include skills related to:

• How youth feel about themselves
• Their relationships with others
• Their ability to regulate emotions
• Their ability to solve problems

When character development is present:

• Youth development professionals model and youth practice skills that display respect, fairness, trustworthiness, responsibility, caring and citizenship
• Youth successfully get along well with others
• Youth are better able to control their emotions and solve problems

When character development is absent:

• Youth do not feel a sense of belonging at the Club and Youth Center
• Youth lack skills that foster positive peer relationships
• Youth lack self-control and act out in frustration

To access Practicing Social-Emotional Skills to Achieve Character Development, visit BGCA.net and search for "Program Basics BLUEprint." It will show you the specific social-emotional skills young people should practice to demonstrate positive behaviors indicative of the six essential character traits.

Practice Positive Youth Development to Create Inclusive Club and Youth Centers

Inclusion is a core component to building a safe, positive environment in Clubs and Youth Centers. In order to fulfill our mission, Clubs and Youth Centers must create safe, positive, and inclusive environments for all youth and teens – including every race, ethnicity, gender, gender expression, sexual orientation, ability, socio-economic status and religion. By creating inclusive environments, we improve the overall experience for all young people.

When youth development professionals use positive youth development practices, they help ensure all youth:

• Feel represented
• Have a sense of belonging
• Can meaningfully participate in programming

As you implement Money Matters, consider strategies that help youth feel affirmed, safe, and engaged with Club and Youth Center experiences. To access more information on building and sustaining an inclusive environment, visit BGCA.net and search for “Program Basics BLUEprint.”

Education Programs and Resources

BGCA has developmentally appropriate programs and resources for all age groups.³

How to Use This Guide – Implementing Money Matters

Suite of Resources

Money Matters suite of resources includes a guide for youth development professionals, a guide for teens, a simulation event and interactive digital resources.

• A Targeted Program Facilitator’s Guide for Club professionals
• A Teen Personal Finance Guide for participating youth
• Reality Store, a fun simulation event
• Digital tools and games

Targeted Program Facilitator’s Guide

The Money Matters Facilitator’s Guide is designed to provide comprehensive support for your Club in developing financial literacy skills for teens. The program is focused on helping teens think about the impact of financial decision-making on their future and includes future-focused activities that support the adoption of positive financial behaviors. Each unit takes teens through different time periods in their lives, and consists of activities that ask teens to examine the impact of their decisions and behaviors on their future. Each unit builds on one another and gives teens the opportunity to apply what they learned from previous sessions to help them in the future. The inclusion of a My Future Self Form in the Teen Personal Finance Guide lets teens reflect on what they learned and how it impacts their goals.

Overview of Units

Unit 1: My Life Right Now: How Do Today's Decisions Impact My Future? In the first unit, teens will learn how the financial decisions they make today affect their goals. They’ll find out what they can do right now to manage spending, saving, and debt behaviors to achieve personal and career dreams. Teens and facilitators will find the topics to be relevant at the time they are engaging with the program.

Unit 2: My Life After High School: How Do I Keep Working Toward My Dreams? Unit 2 helps teens visualize their lives a few years after high school by focusing on postsecondary financial life. Teens will learn how the decisions they make after high school impact their goals. They’ll learn about career and postsecondary options, postsecondary costs and student debt, and how to make choices for their best financial future. They’ll experience what it’s like to manage paychecks, how credit decisions affect debt, and how savings and investing will help them reach their goals. Older teens, especially those who work or drive cars, may find this unit more relevant to their lives as many of them are currently planning for postsecondary.

Real Life Simulation: Reality Store is a fun, interactive simulation that gives teens the opportunity to apply the knowledge they’ve learned in Money Matters to make potential financial decisions they’ll experience in their late 20s. They’ll experience financial opportunities and missteps to learn positive behaviors they can apply in their own lives as they juggle income and expenses. When supported and integrated into the Money Matters Targeted Program, Reality Store can have a large impact on teens who are preparing their best future financial selves. For an increased impact, Club teens should complete the Reality Store experience after they have finished all of the sessions in Units 1 and 2. Reality Store also includes a pre- and post-session to correctly plan and reflect around the Reality Store experience. After teens have experienced Reality Store, they are able to further apply what they learned to Unit 3. Find the Reality Store under the Resources tab.

Unit 3: My Life in My 20s and Beyond: How Do I Stay on the Path to My Life Goals? In the third and final unit, teens visualize their lives in their 20s as they learn how to continue to make good financial decisions through adulthood in order to achieve their goals. They’ll get insight into how credit scores work, understand the impact of financial risks and learn how to manage them. They’ll also explore types of financial products that can either help or harm them as they reach their goals. Teens will be introduced to retirement and shown how and why it’s never too early to start saving! And finally teens will pull together the financial strategies they have been learning, and practice them while responding to life’s unexpected events. In the final session, teens can create their own financial product based on what they learned. The program shows them that no matter their age, it’s never too early to start developing positive financial habits.

BGCA’s Targeted Program Sessions are designed sequentially. You will have the most success if you implement each unit in its entirety. Complete the Reality Store experience after Unit 2, and follow the recommended order of sessions with a group of the same teens who remain together throughout each unit.

Teen Persional Finance Guide

This guide includes useful session worksheets, planning aids, and resources to help teens navigate the units and life stages they will encounter during the program. In the Teen Personal Finance Guide, participants will find a My Future Self Form with reflection pages that prompt teens to adjust their specific life goals after each session. Each teen should be given their own Teen Personal Finance Guide and be allowed to keep it after Money Matters is completed. It is recommended that Club professionals collect the guides from teens after each session to ensure they are available throughout the entire program. During the last session in Unit 3, teens should take their guides home. Find the Teen Personal Finance Guide under the Resources tab.

Primary Audience

To establish a solid foundation, teens need to make a commitment to start and finish Money Matters. Money Matters is most impactful if it’s completed with a group of 15-20 teens who meet consistently. This consistency lets teens build relationships as a team while they get to know each other. Teens can work together to build trust, learn new skills, and take risks to explore and try new things.

While Money Matters can be implemented with teens ages 13-18, the program is more relevant for older teens because many:

• Are just beginning to manage their own money
• Drive and need to manage insurance, gas and car maintenance
• Have their own bank accounts

Therefore, it is important to reinforce the “My Future Self” focus to help teens realize the behaviors they engage in now can impact their dreams and goals. Each session helps reinforce this with experiential activities, reflection questions and engaging situations that help teens think about the impact of financial behaviors.

Program Facilitation Guidance

Format and Key Features

Each session in Money Matters follows a consistent format that incorporates best practices in positive youth development. Facilitating the sessions in the format written is highly recommended to implement the program with fidelity. Each component of the session is briefly described below.

• Background and Preparation – An overview of information needed to implement the activities
  • Session Objective – Specific learning goals for the activities
  • Time Requirements – Time needed to implement the session
  • Group Size – Number of participants
  • Handouts – Handouts and resources needed
  • Teen Personal Finance Guide – Pages from the Teen Personal Finance Guide to reference
  • Supplies Needed – All items needed to complete the activity
  • Links to Resources – Links to additional helpful resources
  • Social-Emotional Skills – Skills needed for success in life
  • Financial Literacy Skills – Skills and transitional knowledge developed in the activity
  • Key Terms – Vocabulary/terms reinforced during the activity; these are also included in the Teen Personal Finance Guide
  • Preparation – Steps for facilitators to complete
• Before the Main Activity – Brief “getting-ready” experiences for the group
  • Warm Welcome – A reminder to connect with each young person before the activity
  • Community Builder – An icebreaker to engage the group, lay the groundwork for the activity, and create an environment for learning and exploration
  • Group Agreements Review – A reminder of participants' commitments to one another
• Main Activity Instructions – Step-by-step instructions to lead youth through the activity
  • Introducing Youth to the Activity – A few comments to introduce the topic and activity
  • Step-by-Step Directions – Detailed steps to facilitate the activity
• After the Main Activity – Helpful guidelines to meaningfully conclude the session
  • Reflection – A brief reflection that helps youth affirm what they’ve learned. Additional guided reflection questions are included in the My Future Self Form that youth will complete at the end of each session.
  • Recognition – A brief activity to allow youth to recognize each other’s support and help
  • Closing and Transition – A reminder about closing out the activity and moving on to the next area

Session Adaptations

While many of the session topics may bring new information and involve serious activities, the program will have the greatest impact if you complete the sessions in order, and cover as many of them as possible. After reviewing each session, you may prefer to modify some of the activities to better accommodate the needs of your teens. Creativity and fun should remain at the forefront of everything you do in the Money Matters program. Use your creativity and engage teens to think of ways to add more fun to each session.

Program Facilitation Tips

• Give yourself time to plan, gather and prepare the materials you will need for each session.
• Make sure you are familiar with the activities.
• Review the entire program and plan for when you may want volunteers to come help with a session. There is an overview below of recommendations about when and how to engage with volunteers.
• Use examples that are applicable to the youth in your Club to help make the sessions come alive.
• Continue to check for understanding to ensure your youth are grasping the topic or instructions.

Use of Volunteers

Have volunteers at your Club help teach youth valuable life lessons, and also help volunteers learn something about themselves. Boys & Girls Clubs volunteers can make a difference in the lives of youth, and they also give you a chance to demonstrate how special your Club is. Clubs have used volunteers to help with homework, coach a game, help with a service project, supervise a field trip or teach an art session. Money Matters is an opportunity to engage volunteers to help you implement this program. 

Since this program is supported by Charles Schwab Foundation, there could be opportunities for your Club to use Schwab volunteers if there is a nearby office. Click on the Money Matters link available at BGCA.net (search for "Money Matters") to see how to submit a request for Schwab volunteers. You need to request Schwab volunteers four to eight weeks in advance, so plan accordingly. 

Throughout the program in the Preparation section, you will see suggestions in each session for how to use Charles Schwab or other community volunteers. These are only suggestions – you will ultimately decide what works best for your Club. Find an overview of these recommendations in the Volunteer Engagement Recommendations document under the Resources tab.

Reality Store

Stop! It’s Time for Reality Store 

This event gives teens the opportunity to apply what they’ve learned so far in Money Matters by simulating real-life situations common in a person’s late 20s. Juggling income and expenses, teens will experience financial opportunities as well as setbacks, and develop positive behaviors they can apply in their own lives. Lessons learned in Reality Store provide a foundation for successfully completing Unit 3. 

Overview 

Reality Store is a fun, interactive event simulation of real life for working adults. Building on skills developed in Money Matters, teens practice making financial decisions common to young adulthood – and then see what happens. Juggling income and expenses, they’ll experience financial opportunities and missteps at various stations to learn positive behaviors they can apply in their own lives. 

Reality Store can be particularly impactful for teens when it’s offered in conjunction with the Money Matters Targeted Program. 

BGCA has collaborated with the Indiana Women’s Education Foundation Inc. to make Reality Store available to all Clubs and Youth Centers. The comprehensive Reality Store event guide can be downloaded from the Resources tab of this collection. 

Objectives 

This interactive fun experience teaches youth the basics of goal setting, budgeting, spending wisely, managing credit, planning for postsecondary education or training, saving and investing. As teens work their way through a series of stations, they make financial decisions they can expect to face as working adults. As they pay bills, save money and make purchases, teens get to see firsthand the consequences of those decisions. Participating teens will: 

• Envision the lifestyle they would like to enjoy as an adult in their late 20s 
• Explore an occupation that interests them 
• Receive a checking account deposit equal to one month’s salary based on the job they choose 
• Spend their salary on necessities and “extras” 
• Learn the importance of saving 
• Practice handling some of life’s unexpected events 
• Discover whether the salary of their intended occupation can support the lifestyle they want 

Implementation 

Clubs should conduct Reality Store events after completing Money Matters Unit 2. 

• Money Matters Unit 1 focuses on financial behaviors teens can apply now to achieve their goals. 
• Money Matters Unit 2 focuses on making these types of decisions two years after high school. 
• Reality Store enables teens to test their knowledge gained from Units 1 and 2, and helps them make decisions in Unit 3. 
• Money Matters Unit 3 takes teens further into the future and focuses on financial behaviors they are likely to face in their 20s and beyond. 

Preparation 

Please review Reality Store instructions to see what you need for a successful event. To download the comprehensive Reality Store event guide, visit BGCA.net and search for "Reality Store Facilitator Guide." To ensure you’re ready to host the event immediately following Unit 2, start planning Reality Store as you launch your Money Matters program. 

Integration With Money Matters 

The comprehensive Reality Store event guide includes two activities for teens to prepare for, and then reflect on, their experience. 

• Reality Store Planning: Introduce teens to Reality Store by explaining how it works, how to use the tools available to them, and answering questions about the simulation. Teens select their careers, marital status and number of children, which will be utilized throughout the event. 
• Reality Store Revisited: Teens reflect on the decisions they made in Reality Store, the impact of those decisions, and understand how similar decisions can affect their own futures. 

Teens who participate in Reality Store will use what they learn throughout the remainder of the Money Matters program. In Unit 3, teens will be prompted to connect their Reality Store experiences with the content of the sessions. 

Reality Store Models 

There are many ways to run Reality Store. Clubs and Youth Centers choose the model that best suits their needs. 

Standard Version: Money Matters Units 1 and 2 are designed to give teens the basics, and Reality Store enables them to apply what they learned from those units. Subsequently, in Unit 3 teens reflect on and apply what they learned in Reality Store. Use this model to extend learning when you’re running the Money Matters program. 

Mini Version: In this model, also offered after Unit 2 of Money Matters, two or more stations are combined into one for a smaller footprint that can be facilitated with fewer staff or volunteers. Use this model to extend the program if you’re running Money Matters with a small group of teens. 

Stand-Alone Event: In this model, Clubs host Reality Store without running the Money Matters program. You may want to partner with other Clubs or Youth Centers, or community agencies. A stand-alone Reality Store event can be a way to boost teen recruitment or parent involvement, or to interest Club teens in participating in additional financial literacy programming. The comprehensive Reality Store event guide can be downloaded from the Resources tab of this collection.