Financial Management for Youth
YEDID is now offering its well-known budget management training course to teenagers and youth, especially designed to meet their needs and lifestyle.
YEDID has noticed an inordinate rise in the number of youth in considerable debt to cell phone companies, clothing stores and the like. Spending sprees often start from the day that teenagers can open their own bank accounts and receive ATM cards. Many students have no tools, experience or knowledge of budget management, which leads them straight to debt at a young age. YEDID, which has been operating Family Budget Managementcourses for adults for many years, has picked up the gauntlet and currently offers special courses to children and youth.
The course is age-appropriately geared to high school students or National Service Volunteers and covers the following topics:
The role that money plays in our lives—what does money mean to me? Who's the boss—me or my money?
Sensible consumerism—the manipulation of advertizing, peer pressure, brand names as status symbols.
Banks and how to navigate them.
Basic terminology and use of credit, interest, overdraft, different payment methods, etc.
Savings and planning for the future—why should I save? What am I saving for? Education as a means for increasing income.
At the end of each course, participants take part in an overnight field trip, which they plan and make all the financial decisions, including budgeting for food and transportation, according to a pre-arranged budget. Among the activities that have been planned so far include a scuba diving course in Eilat and horseback riding courses.
"Now I know what credit is. It's money that's mine but not really mine. And now I know how to spend my money wisely." This quote from an 11-year course participant from Petach Tikva sums up the success of this program. For the first time, youth are exposed to important financial terms and management skills that will help them avoid debt in the future and make smart choices about their money. Participants have also learned how to avoid being influenced by peer pressure and advertising to make purchases they cannot afford.
To donate to YEDID's Youth Financial Management programming,
click here and designate your donation accordingly.