Boys & Girls Clubs of America

Since the program’s inception in May 2004, more than 1,000 Boys & Girls Club locations nationwide have adopted Money Matters, and over 110,000 teens have completed the program. Charles Schwab Foundation has also presented almost $200,000 in college scholarship grants to 97 teens, ages 16-18, who completed the program and demonstrated their newly acquired financial literacy skills.

An independent third-party evaluation of the program indicates that it's working. Analysis of baseline and follow-up surveys conducted with approximately 100 teen Club members who completed Money Matters shows that the program motivated them to take positive action.

Specifically:

• 80 percent of Club members reported that they had begun to save money (versus 63 percent in the baseline survey)
• 64 percent of Club members were in the process of opening a savings account (versus 43 percent in baseline survey)
• 57 percent had started to develop a spending plan or budget (versus 32 percent)
• 43 percent had initiated a search for information on financial aid for college (versus 28 percent)
• 51 percent had begun to open a checking account (versus 23 percent)

Teen Personal Finance Guide includes practical tips and activities to help teens learn the important skills of balancing a checkbook, creating a budget and investing for college and retirement. The guide also provides basic entrepreneurial information for teens interested in starting businesses.

Facilitator's Guide contains basic financial concepts that Club staff and volunteers can use to help teens understand the benefits of effective money management. Easy-to-implement small-group activities that are typically completed in less than an hour supplement and reinforce the information in the Teen Personal Finance Guide.

Money Matters Web Site is an interactive, engaging tool that teen program participants can use to balance a checkbook, make budgeting and investment decisions and learn about starting a business. The secure web site also features a saving and financial aid calculator to help teens plan for college.

Schwab Employee Volunteer Program provides Schwab professionals with an opportunity to volunteer at Clubs and share their financial expertise with Club members and their families. Employees are also encouraged to participate in other programs offered at the Clubs, including homework assistance, art, sports and computer labs.

Money Matters Scholarships and Awards include a certificate of completion for each participant, with scholarship and award winners selected based on their performance. Older teens (16-18) are eligible for $2,000 scholarships from Charles Schwab Foundation, and younger teens (13-15) are eligible to receive awards such as MP3 players. A total of 44 Money Matters scholarships and 50 MP3 players have been awarded to club teens since inception of the program.

Boys & Girls Clubs of America (www.bgca.org) comprises a national network of some 4,000 neighborhood-based facilities annually serving more than 4.6 million young people, in all 50 states and on U.S. military bases worldwide. Known as “The Positive Place for Kids,” the Clubs provide guidance-oriented character development programs on a daily basis for children 6-18 years old, conducted by a full-time professional staff. Key Boys & Girls Club programs emphasize leadership development, education and career exploration, financial literacy, health and life skills, the arts, sports, fitness and recreation, and family outreach. National headquarters are located in Atlanta.