60 Teens participate in Massachusetts Youth Saves Program

During the months of June & July, 60 teenagers aged 13-19 from Marine, Coast Guard, Army, and Air Force families attended Youth Saves programs across the Commonwealth of Massachusetts to help increase their knowledge of financial literacy. Jonathan Harrington, Personal Financial Counselor for the MA Guard & Reserve, created the Youth Saves program to fit into the Military Youth Saves (www.militarysaves.org) theme which encourages kids and teens to develop good savings habits at a young age.

The day long programs were broken up into four teaching modules with breaks for snacks, lunch and a small amount of physical activities. The programs were tailored for two age groups. The younger teens learned about choosing careers, understanding the concepts of income & smart budgeting, starting to think about where they might go to school. The older group learned about buying cars & understanding auto insurance, the use of bank accounts, the power of compounding, establishing & maintaining credit, and college admissions & financing. The groups joined together and closed the day by playing Financial Football by Practical Money Skills for Life™.

Justin, 13, commented that “I learned that I have to be smart with my money so that I can have it for things I want in the future”. Adam, 17, said of his experience “"I want a car and this class helped me create a plan to get that car”.

Bill Burpeau, Education Specialist for Hanscom Federal Credit Union noted the benefit of the program being offered to a wide age range by saying “One thing that makes the Youth Saves program unique is that it reaches beyond the High School age down to Middle School age. The sooner kids start hearing and understanding the basic skills of managing money well, the greater the chance they will put those skills to use in their lives and avoid costly mistakes.”

Matt Paradise, Education and Outreach Team Lead & Trainer for American Consumer Credit Counseling expressing the need for this training commented that “During these turbulent economic times, one of the wisest investments we can make is to pour resources into our youth. They are the future of our economy and our nation's health depends on them.”

Representatives from eight organizations participated in the teaching part of the programs including; American Consumer Credit Counseling, the Financial Planning Association of Massachusetts, Freedom Credit Union, Hanscom Federal Credit Union, Junior Achievement of Eastern Massachusetts, the Massachusetts Association of Insurance Agents, the Massachusetts Educational Financing Authority (MEFA) and Service Credit Union of Falmouth. Jonathan Harrington said of his effort to bring these organizations together: “I didn’t want the teens to just have me up there teaching all day. I knew I would eventually lose their attention and I’m certainly not an expert on all of the topics of instruction. Having these organization participating allowed the teens to gain knowledge from a variety of individuals who all brought their individual experiences and knowledge.”

“This Youth Saves Program that was held in Massachusetts is a good example of the mission of Military Saves” said Charles R. Lowery, Jr., Acting Director of Military Saves . “We need to spread this concept to other states so that more our servicemembers’ children gain financial literacy knowledge”.

The programs were held at the following locations: the Military and Family Support Center in Wellesley, MA; the National Guard Joint Force Headquarters in Milford, MA; Westover Air Force Base in Chicopee, MA; Camp Edwards in Bourne, MA and Fort Devens in Fort Devens, MA.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Students and presenters from the Youth Saves Program at Camp Edwards in Bourne, MA pose for a group photo.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Jeanne Sullivan, of the Financial Planning Association of MA, talks to several teens about how career choices and education effect future earning potential at the Youth Saves Program at Camp Edwards in Bourne, MA.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Teens who participated in the Youth Savings Program at the National Guard's Joint Force Headquarters in Milford, MA show off their certificates of completion.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
With plastic piggy banks in the foreground, Cecily Murdock, of the National Guard Family Program talks to two teens about savings at the Military and Family Support Center in Wellesley, MA.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Bill Burpeau, of Hanscom Federal Credit Union, talks to teens about using S.M.A.R.T. goals for their savings at the Military and Family Support Center in Wellesley, MA.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Matt Paradise, of American Consumer Credit Counseling, talks to teens about keeping their money in balance at the National Guard's Joint Force Headquarters in Milford, MA.

Military Saves, us military loans, military savings, mission readiness, financial readiness, us military money, military investing
Kathy Anderson, of MEFA, talks to teens about using tools on the internet to locate the college or university options that are right for them.

 

 

Our Military Youth Eagle has a name... "Skyler, Soaring with Savings".

Military Youth Saves is a social marketing program designed to encourage kids and teens to develop good savings habits at a young age. We want you to be a responsible saver but we also want you to spread the savings message to your family and friends!!

Tip of the Day

  • Tip to #save during the #holidays: pay off #credit cards as soon as possible. http://ow.ly/pX9nu 

Pledge to Save

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Pledge to Save

Saver Stories View all »

Building Wealth by Setting Goals

My name is Allison Mecadon and I’m a Youth Coordinator with the Virginia National Guard Youth Program.  My husband, Tom, is an M-Day Army National Guard Member (an M-Day member is one who performs weekend drill, but is not on full-time duty). Tom just got back from a 1-year deployment to Afghanistan and before that served a one year ADOS tour (Active Duty Operational Support) at Ft Belvoir.

Read more...

One Sailor's Course to Financial Freedom

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Read more...

Money on the Side

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

Read more...