Investing in our Youth

Teens today face a multitude of challenges to reach adulthood including academic worries, depression, bullying, drugs and alcohol.  Despite those challenges, we are making headway in “cultivating youth for a future of financial wellness”.


Will I be able to save enough money?

The Center for Smart Financial Choices (CFSFC) shared knowledge on the role of additional education in improving the future prospects of over 3,400 youth in 2016. Each youth began building a framework of financial competency that will enable them to look forward to a stable life. The demand for financial education continues unabated and CFSFC is the only non-profit doing this work with youth.

We offered 163 workshops at 41 different locations in Forsyth, Stokes and Guilford counties. This would not have been possible without the help of 99 volunteers who donated 635 hours.

How will credit affect my future?

 

Volunteer Today!

 

 

 


What Teens Learned in 2016

CFSFC asked over 2,300 high school students to complete an evaluation of their learning while participating in the “Adult for A Day” budget and credit workshop. The average student was 16 years old, 49% were female and 51% were male.

Students were asked about their future plans and if they have spoken to their parents. Most students have talked about their college plans with their parents, although their expectations about how college will be paid for are unconfirmed. 

What changes will teens make in their financial habits?

  • 42% agreed to Track Expenses for One Week 
  •  58% will Change One Habit To Save Money 
  • 42%  Plan to Open A Savings Account   
  • 48% will consider more Classes to Make Good  Financial Choices

 


Financial Education Addresses the Future

Teaching children about money- how to manage it, save it and spend it wisely – is essential to making sure they are prepared for the financial world.
Teens were asked where they got their financial advice from and 86% percent reported they learned from their families. 

George Washington University economics professor Annamaria Lusardi has done pioneering research on financial literacy. Her studies have documented the gaps in financial knowledge among different demographic groups. “What the data on financial literacy shows is that financial knowledge is unequally distributed,” says Lusardi. “Those with the least knowledge are also the most vulnerable groups in economic terms.

Lusardi directs the Global Finance Literacy Excellence Center that focuses on raising the level of financial knowledge through financial-literacy education. “Finance has entered the lives of every family in a much more significant way than in the past. We now have a lot more responsibility for managing our money. Everyone needs to know the ABCs of finance,” notes Lusardi.


Join us in Investing in our Youth

We ask teens what other knowledge they need for a successful future and they told us:

  • Need help opening a savings or checking account
  • Information about different career choices
  • Help in getting a job now
  • Help applying for scholarships and grants
  • Strategies for spending less & saving more money

Here are a few lessons learned as shared by youth:

  • I have started tracking the amount of money I spend, and based on this, I change my bad habits of wasting money on unnecessary things.
  •  I have learned how to keep a proper budget so I have saved a lot more money. I also set up a checking and savings account after learning about them.
  • Well I’m not more willing to just spend money on whatever I want. I have to stop and ask myself do I really need this / want this and then I chose if I purchase the item or not. I have saved more and begun working towards saving for college.
  • The Center for Smart Financial Choices made me more aware of my options on how to pay for college and save up to pursue other goals of mine such as studying abroad. I am more aware of the importance of saving my money and look forward to it because I know that I am making an investment in my life!

On April 18, 2017, we will hold the Second Annual Day of Giving Event highlighting the value of investing in the financial education of our youth.

 Register now

 

Can we count on your financial support in helping our youth build better financial futures for themselves?

Donate Today!

Achieving Success through College

Participants in the Financial Education Scholarship Program share their success stories

Sarah Williams is not your traditional college student. When we first met, she was working full-time, a mother and wife. Sarah attended Forsyth Community College Online. She now works for a local financial institution preparing commercial loan packages. Sarah was the winner of the first Adult Financial Education Scholarship offered through the Center for Smart Financial Choices (CFSFC) in 2014.

Sarah shared the story of her resolve to graduate from college despite overcoming serious health issues.  By the time, she was entering her late 20’s, she wondered if she would still be able to go to college. Sarah said, “I put some serious thought into this and decided that not only did I want to set a good example for my daughter but I wanted my degree and to show myself that I could accomplish all my goals. If I never tried to get my degree because of cancer than I would be letting cancer win. It may not take my life but it would have taken my dreams. This was not option”. Sarah made college happen and graduated in May 2016.

Her daughter saw how hard she worked and that it wasn’t easy.  She has been making straight A’s and the family is considering the Early College of Forsyth program for her.  Her daughter is excited about this opportunity and hopes to be accepted. Sarah shared, “I know that my dedication to my studies set a good example for her and that makes me feel great!” Sarah is so thankful for the scholarship she received from CFSFC and how it helped her achieve her dream of getting a college education.

Greetings from UNC Charlotte! My name is Tyriq Evans, and I am a Sophomore Mathematics Major, planning to Minor in Secondary Education. I graduated from East Forsyth High School. I was one of the 2015 Financial Education Scholarship winners through the Center for Smart Financial Choices (CFSFC).

I have been involved in several on-campus activities since I began life here in the fall of 2015:”Pride of Niner Nation” Marching Band; University Honors Program and Building Better Brothers (B3) a program primarily for minority males. Mentoring is our main activity. We also engage in social activities and have rap sessions to discuss relevant topics concerning the community and world around us.

My most memorable experience so far has been attending the LeaderShape® Institute with UNC Charlotte. LeaderShape® is a weeklong immersion program where individuals develop their leadership skills, while working to shape their visions for their future.

Although I haven’t traveled outside of the United States yet, I plan to go to London, England this year with the Multicultural Academic Services.  I will receive academic credit and take time to visit the famous attractions of England.

Thanks to CFSFC, I have been able to budget in several aspects of my college life. Renting my textbooks has saved me money which is allocated towards my tuition. Also, I tutor other students in Calculus. Tutoring has given me experience for my major and some extra change for my pocket. I am forever grateful for the Center for Smart Financial Choices for their support during my journey through college!

My name is Marianne Cruzat and I am a sophomore at UNC Chapel Hill majoring in business administration and minoring in entrepreneurship and urban planning. I participated in the 2016 Financial Education Scholarship program through the Center for Smart Financial Choices (CFSFC).

At Chapel Hill, I am treasurer for the Filipino American Student Association. I am working to get Innovation Ambassadors running, a program that will foster interdisciplinary innovation and allow students to innovate and start their own startups. Besides the entrepreneurship programs that I’m a part of, I am also interning at Groundwork Labs, a 3-month program that helps accelerate pre-seed startups toward their next goal.

Since I am hungry to immerse myself in other cultures and experience the rest of the world, I applied to Kenan-Flagler Business School’s prestigious GLOBE program. Fortunately, I was accepted and next year, I will be spending my entire junior year abroad! I will be in Copenhagen in the fall and Hong Kong in the spring and will be traveling to many other foreign cities in between to learn more about business and the world.

In my free time, I try to give back to my community by volunteering at places such as Center for Smart Financial Choices (CFSFC) and working with my former high school (Early College of Forsyth) to better prepare students for college. I also love to take photographs of people and landscapes around me.

So far, my most memorable experience in college was when I studied abroad this past summer. I was fortunate enough to travel to Southeast Asia and visit Singapore, Thailand and Vietnam. I was able to immerse myself in the culture and learn about the globalization of Chinese food through the Chinese diaspora. As cliche as it sounds, this experience truly changed my life.

I’m thankful to have had the opportunity to work with CFSFC not only because I have the wonderful opportunity to give back but it also taught me a lot about my own finances! I’m able to transfer what I’ve learned to my own life, including finding funding and saving up for my study abroad programs and college in general.

Sign up for this great opportunity today! 2017 Scholarship Program

Scholarship Applicants Raise Their Financial IQ

One of the requirements in competing for the 2015 Johnston Financial Education scholarship was for applicants to attend two financial education classes.  This year, thirty-three individuals applied for one of three scholarships. Twenty-nine individuals, six (6) adults; nine (9) Hispanic/Latinos; and fifteen (15) youth completed all requirements.

Many of the applicants faced obstacles in attempting to go to college or paying to finish their schooling. Several faced legal barriers to financial aid and almost all of the applicants work part-time or at multiple jobs to finance their education.  Yet this is a goal for all of them as they echo what Paula said ‘Going to college is just the door step to where I see myself in the future. College will prepare me with knowledge, experiences, and skills … I believe I know what comes first in my life, and college is definitely one of them’.

The first class, ‘Going to College-Counting the Cost’ revealed the true cost of college and tips that all individuals can use to reduce their reliance on student loans. This class was featured on Time Warner Cable Channel 14 Money Matters in April. http://www.twcnews.com/stories/2015/04/28/m/money-matters-paying-for-college.html

Two other classes, ‘Finding Money for Free’ and ‘Money Habitudes®’ gave applicants ideas on how to keep better track of their money and helped them developed a better understanding of their habits and attitudes around money.  All the participants gained a solid financial foundation to guide them as they move forward in life.

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Jessica said, ‘to help avoid unnecessary debt … I am going to make a plan to see what I spend my money on. After that I will begin writing down if I NEED the item or if I WANT it. Being that I am a spontaneous shopper, (thank you money habitudes!) I think coming up with this plan will help me cut down on all the things I don’t need to buy right at the moment.’

Greicy shared the confidence she and the other students will need in facing their future when she said, ‘I am confident that I can exhibit the restraint and the discipline required to commit to my budget and avoid falling into unnecessary debt in college. These positive habits will not only alleviate financial matters, but will also help me build the confidence and character necessary to become a fiscally responsible and independent adult.’College4

Miah summed up their learning experience when she stated, ‘College is a time to learn, discover, find myself and create new paths. One thing I will work to not discover, find or create is unnecessary debt because I want total control in my choices, life and future…I am thankful for learning that from classes at the Center for Smart Financial Choices.’

CONGRATULATIONS TO ALL OF YOU & MAY YOUR FUTURE BE EVERYTHING YOU BELIEVE IT CAN BE!

Going to College-Counting the Cost

Going to College-Counting the Costgoing2college

How? With the cost of a college education increasing every year, waiting until high school to figure out how you will pay for college, earn some spending money, and still get a good education may be too late. This course will assist students and their families to discuss the options available to ensure their future educational goals are met without incurring tremendous debt.

CLASS REQUIRED FOR TEEN SCHOLARSHIP APPLICANTS!