Monday, April 23, 2012

Youth To Sign Pledge For Financial Literacy Month

Child & Adolescent Treatment Services and Consumer Credit Counseling Service of Buffalo pair up to bring financial literacy programs to Buffalo Public Schools

Thursday, April 26th at 4 pm

School #74

126 Donaldson Avenue, Buffalo, NY 14208

Consumer Credit Counseling Service of Buffalo (CCCS of Buffalo) and Child and Adolescent Treatment Services will have over 25 students at School #74 sign a Financial Literacy Pledge to commit to safe spending patterns and to commemorate National Financial Literacy Month.
Most youth experience their first introduction to financial management at home (94% percent of youth cite their parents as primary source of financial education. Youth and Money Survey, 1999).  However, many low-income parents, themselves struggling to make ends meet, are ill-equipped to teach effective financial management skills to their children. This lack of knowledge makes economically disadvantaged youth prime candidates for financial hardship.

In 2010, CCCS of Buffalo and Child & Adolescent Treatment Services created a Youth Financial Literacy Program to work with financially disadvantaged 5-8th graders based on the great need in our community. The program delivers financial literacy education to students in targeted economically disadvantaged communities during non-school hours, connecting youth with tangible skills and giving low-income children an opportunity to succeed in an increasingly complex world. The curriculum provides youth with financial literacy education at a critical juncture in their lives.

Specifically, the program helps students identify money issues and teaches them to create a realistic budget.  Certified financial presenters teach the curriculum which includes the basics of money, personal spending, budgeting, financial goals & priorities, banks, savings, and credit. Without program intervention, Buffalo’s youth may be relegated to a life of poor financial choices. Youth Financial Literacy education stops this destructive cycle which not only harms local families, but decreases economic vitality in our region…a region which desperately needs financial health. 

To recognize National Financial Literacy Month, CCCS of Buffalo and Child & Adolescent Services will have students sign Financial Literacy pledges to create and complete two S.M.A.R.T. financial goals by next year. The underlying goal is to increase public awareness about the importance of financial education in the United States, and the serious consequences that may result from misunderstanding personal finances.  Financial literacy does not focus on income as much as it involves knowing the appropriate steps to take once it is earned. Being financially literate means understanding how to manage money, use credit effectively, build wealth, and make sound financial decisions.
National Study Indicates Big Trouble

The recently released 2012 Financial Literacy Survey revealed a disturbing lack of basic financial skills that are critical to building a stable financial future.  Consider the following results in areas such as budgeting, saving, responsible bill-paying, and money management:

           More than half of U.S. adults, 56 percent, admit that they do not have a budget;

           One-third of U.S. adults, or more than 77 million Americans, do not pay all of their bills on time;

           Thirty-nine percent of adults carry credit card debt over from month-to-month;

           Two in five adults indicated that they are now saving less than they were one year ago, and 39 percent do not have any non-retirement savings; and,

           Twenty-five percent of those who do not currently have non-retirement savings indicated that, if they did begin to save, they would keep their savings at home in cash.

CCCS of Buffalo and Child & Adolescent Treatment Services will continue to operate the youth financial literacy program throughout the remainder of the school year and plan to incorporate it into their programming for Summer 2012. For more information, contact Leslie Tunmore at (716) 712-2060 ext. 135 or Scott Laughlin at (716) 712-2067.

About CCCS

CCCS of Buffalo is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and credit repayment assistance to consumers since 1965.  CCCS of Buffalo helps consumers trim expenses, develop a spending plan and repay debts.  Counseling is available at our Main Office in West Seneca, in one of our Satellite Offices, by telephone and via Internet.

About Child & Adolescent Treatment Services

Child & Adolescent Treatment Services is a non-profit children’s mental health agency that provides innovative, research based preventative and treatment programs that strengthen the emotional health and safety of children in their homes, schools, and our community at large. Children receiving help range in age from toddlers to young adults. Programs and services make it possible for children to recover, regain hope, and become healthy, safe, and thriving adults.

Child & Adolescent Treatment provides programs and services for children and young adults in the areas of:

Disruptive Behavior Disorders



Self-Harming Behavior

Bullying & Cyberbullying

Sexual Abuse

After School Education and Programming

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