Financial literacy is not a subject many youth (or their parents) study in school. Yet, not knowing how to manage money can lead to challenges in household budgeting. Boys & Girls Clubs of Delaware addressed this challenge by conducting a five-week financial literacy course for youth and families in the Y.E.S. program. The course covered credit management, savings plans, methods of paying bills and comparison shopping. In addition, the Club’s program director worked individually with Y.E.S. family members to discuss home ownership opportunities, budgeting, community resources and family issues.

Families in the program saved more than $41,000 collectively. In December 2007, these funds were matched giving the program’s participant fund more than $83,000. Once youth in the program turn 18, they can use these funds for one of four asset-building options: home ownership, post-secondary education, entrepreneurship or automobile purchases.

By teaching youth and their families the value of saving, the Club is strengthening the participants ability to delay immediate gratification for a long-term payoff. Youth leave the program with the skills and know-how to be conscientious consumers – and more importantly – savvy investors in their own future.