MSU Extension 4-H Youth Money Management

Michigan State University Extension 4-H youth programs have many opportunities to keep youth busy, and one them is to start learning about and practicing ways to use money, set financial goals and explore career connections. The 4-H Money Management Snapshot gives ideas and examples in a two-page overview of curriculum, resources, ideas to use personally and how to get involved.

In the snapshot, there are lists to help start the learning process and look at the big picture. Examples can be learning the difference between wants and needs, comparing prices before you buy something, learning about a spending plan and setting SMART goals.

As youth and families get more involved in the money management activities and learning the basics of personal money management, they can start conversations around compound interest, avoiding identity theft, fraud, what a credit card and debit card are and how taxes affect the financial picture. As horizons get expanded, money opportunities such as exploring investment options, saving money for emergencies, college costs and insurance options come into the learning picture.

The snapshot lists many types of curricula and resources locally, statewide and nationally that can be shared. Some examples are The Allowance Game from Iowa State University and, nationally, My Financial Future and Reading Makes Cents.

Many life skills are taught by learning money management concepts. Math skills are taught by learning how to develop a budget and identify currency and their values. Communication skills are enhanced by reading children’s books on money during story time, money activities, creating a poster and writing a news article for the school newspaper on tips for saving money. Other ways to develop life skills in money management are to become a treasurer in the 4-H club or another group and coordinate a fundraiser. When focusing on money management, decision making, keeping records and setting goals are all part of the life skills needed to become a successful adult.

Michigan State University Extension and Michigan 4-H Youth Development help to prepare young people for successful futures. As a result of career exploration and workforce preparation activities, thousands of Michigan youth are better equipped to make important decisions about their professional future, ready to contribute to the workforce and able to take fiscal responsibility in their personal lives.