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
ADHD
Depression
Self-Harming Behavior
Bullying & Cyberbullying
Sexual Abuse
After School Education and Programming
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