On January 5, 2005, teens from Bridesburg and Frankford gathered together in the Bridesburg computer lab to begin a new program: Money Matters. Taught by Jeffrey Waldron, the Chief Professional Officer of Boys & Girls Clubs of Philadelphia, the class aims to build money management skills in teens. The classes will be held once a week for ten weeks, and alternate between the Bridesburg and Frankford Clubs.
On the first day the classes met, Mr. Waldron told his teen participants: “I’m really excited to teach this class because I truly believe that managing money is a valuable skill to have. A lot of famous people you know are now going broke because they do not know how to manage the money they have. I hope after this class, you will not fall into the same traps.”
This year, the program is supported by a $10,000 grant from Charles Schwab and Boys & Girls Clubs of America. BGCP participated in a pilot program last spring, pronounced the new classes a great success, and decided to continue offering Money Matters to their teen members. The program includes classes about checking and saving accounts, managing debt, saving for college, and the basics of investing. The teens will learn practical ways to save, spend, and invest the money they earn. A new component was added to the program: this year, all participants of Money Matters received their own account on a new website. The website allows members to play interactive games about money management, surf the web for finance-related information, and supplement their classes with additional information.
The program this year is filled with bright, high-achieving high school students. When asked about their goals and dreams, many replied “going to college,” “starting my own business,” and even “becoming famous.” After completing the Money Matters program, these teens will be more equipped with the skills they need to fulfill their dreams.
