Volume 17, Number 1, Fall 2006

Money and Youth

Erica Tobe

According to the National Endowment for Financial Education, “In the year 2000, teenagers in the US spent over $155 billion dollars. In addition, teenage girls spend on average approximately $91 per week, while teenage boys spend approximately $86 per week.” As the Michigan personal finance survey suggests, the youth “know how to get money and spend it, but know considerably less about saving or investing their money or how to effectively use credit.” (Executive Summary, National Institute for Consumer Education)

Assist your 4-H’ers in learning the basics of financial literacy education. Whether it is learning to develop a personal budget, understanding the costs associated with credit and credit cards, or identifying the basics of investing, MSU Extension has a variety of resources and curricula to assist you in educating preschoolers through young adults about the importance of money management education.

Here are a few of the opportunities you and your 4-H’ers can become involved in:

• Thrive by Five – Pre-K Focus – http://www.creditunion.coop/pre_k/index.html
• Consumer Savvy – Grades 3-12 – http://www.n4hccs.org/shop/products.asp?action=list&cat=10&subcat=63&l=L1
• Financial Champions – Grades 7-9 – http://www.n4hccs.org/shop/products.asp?action=list&cat=10&subcat=5&l=L1
• NEFE High School Financial Planning Program – Grades 9-12 – www.nefe.org/hsfppportal
• 4-H Millionaire’s Youth Investment Clubs – Grades 7-12 –(tobee@msu.edu)

Educating our youth about the world of financial education is an important step in preparing youth of all ages for the world of work and financial independence. For more information, please contact Erica Tobe, program leader, tobee@msu.edu or (517) 355-9655. For resources and curricula, check out the 4-H Web site in early 2007 for more information on financial education for youth.