The Money Matters: Make It Count program consists of five components: Teen Personal Finance Guide, Program Facilitator’s Guide, Money Matters Web site, Schwab Employee Volunteer Program and Money Matters Awards. The volunteer component is particularly useful, because Schwab employees can pass financial expertise to Club teens through their volunteer involvement.
The Money Matters program was piloted in 20 Boys & Girls Club locations in late 2003 and was distributed to all teen-serving Clubs in 2004. Since the program's inception, some 500,000 Boys & Girls Club teens have completed Money Matters at more than 1,700 Clubs. During 2012 alone, more than 81,000 teens completed the program.
The program has proven quite effective in making a positive impact on teens. Conducted in 2008, an independent evaluation of Money Matters showed that program participants were more likely to improve financially-related behaviors. Of note, they found statistically significant increases in opening checking accounts, applying for part-time jobs, developing spending plans and beginning to save money regularly.
Since 2004, Charles Schwab Foundation has presented a total of $470,000 in college scholarship grants to 222 teens, ages 16-18, who completed the program and demonstrated their newly-acquired financial literacy skills. Additional money management and financial literacy resources are available for teens, adults and families through Schwab MoneyWise.
About Charles Schwab Foundation Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at www.aboutschwab.com/community. The Charles Schwab Foundation is classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation.
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