As some of you might know, we have created a matched savings program for young people who are aging out of the foster care system. Two years were spent planning and developing the program. We’ve been talking with people in the community about the program and about the need for opportunities for these young people to not only earn money, but to learn how to manage their money. Financial literacy develops the knowledge and skills needed to make deliberate and effective financial decisions. According to the Jump$tart Coalition’s 2008 study of high school seniors and college students, financial literacy for high schoolers has fallen to its lowest levels.
When volunteers and experts from the community began planning the program, there was a question about working in the public schools in the Triangle. At the time, it seemed like too big a target to create an impact. We wanted to start with a smaller population and have some success before we took whatever program we created to a larger scale. Eventually, we agreed that working with young people aging out of foster care is a finite number of at-risk youth that we can help and we can evaluate the program effectiveness quickly. Continue reading




