Congratulations
to the First Money Matters Ambassador
Teen Receives
$5,000 College Scholarship from Charles Schwab Foundation
Growing up in a
single-parent family of four, Joshua Carter always knew that money
was tight and he would need to find financial assistance to help him
pay for college. But it wasn’t until he participated in Boys & Girls
Clubs of America’s (BGCA’s) Money Matters: Make it CountSM
program that he began to understand how to make smart financial
decisions to help him reach his educational goals. Money Matters,
launched in 2003 through the sponsorship of Charles Schwab
Foundation, is designed to promote money management skills among
teens and is targeted primarily at teens from underserved
communities.
“Having strong money
management skills will make college life easier,” says Carter, a
member of Boys & Girls Clubs of Greater Washington (D.C.). Money
Matters taught him how to save money by limiting his spending on
clothes and entertainment. Instead, he has focused on the bigger
picture by saving money to invest in long-term goals. Since taking
Money Matters, Carter has also opened both savings and checking
accounts.
Carter was selected from
among 20 winners of college scholarships funded by Charles Schwab
Foundation to receive a special $5,000 scholarship and the honor of
being named BGCA’s first-ever National Money Matters Ambassador. The
additional 19 scholarship winners each received a $2,000 college
scholarship. Carter will use his scholarship to enter Virginia
Commonwealth University in the fall of 2008 to pursue a degree in
mechanical engineering.
“In a world becoming
more financially complex, education about money management is vital
to our nation’s future,” said Carrie Schwab Pomerantz, president of
Charles Schwab Foundation. “Through the Money Matters program and
these scholarships, we are aiming to help today’s teens become
financially fit adults who can help reverse the course of poor
saving and debt management habits in the United States.”
“Since implementing
Money Matters, our teens have become skilled in a number of
financial disciplines including creating a budget, using a checking
account, saving for college and the basics of managing debt,” said
BGCA President Roxanne Spillett. We think it is critical they learn
how to handle money responsibly in order to ensure a more prosperous
future.”
Since its inception, the
Money Matters program has grown to serve over 70,000 teens and
provide more than 97 college scholarships. The program is available
to all Boys & Girls Clubs serving teens.
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