This week YouthWorks kicked off its first of the summer workshop series. For many of our participants YouthWorks is their first professional work experience where they are earning a paycheck. YouthWorks encourages all of our interns to open up a bank account, where they can monitor their hard earned wages.
At the Money Management workshop interns learn how to develop a budget and create a savings goal. From saving for college to a new computer to prom, every intern is saving for something different. “It’s important they know what to do with their money,” explains Employment Coordinator Jerome Anderson.
Other topics covered during the workshop include understanding debt and what happens when you borrow money. Interns get an opportunity to consider the difference between good and bad debt and how to be a responsible borrower. What interns spend money on is explored in the lens of instant vs. delayed gratification, and many interns realize how important self-discipline is when it comes to spending and saving.
Jerome Anderson shares how he practices delayed gratification by waiting for things to go on sale. “If its not 30% off its not meant to be.”