Teaching Teens Money Management
Money Matters: Make It Count consists of the following components: Teen Personal Finance Guide, Program Facilitator’s Guide, MoneyMattersMakeItCount.com, Schwab Employee Volunteer Program, Money Matters Awards, Reality Store, and the $ky digital gaming experience. The volunteer component is particularly beneficial, as participating Schwab employees can pass their financial expertise on to Club teens.
Money Matters was piloted in 20 Club locations in 2003, then distributed to all teen-serving Clubs in 2004. Since its inception, more than 930,000 teens have participated in the Money Matters program at over 1,700 Clubs. During the 2017-2018 school year, 86,739 Club teens participated in Money Matters at 1,655 Clubs.
Money Matters has proven effective in making a positive impact on teens. An independent evaluation of the program in 2008 found participants were more likely to demonstrate improved financially-related behaviors. This included statistically-significant increases for 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 $550,000 in college scholarship grants to 281 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 aboutschwab.com/community. 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.