Financial Literacy at Life Skills Class
JS clients attended a recent Life Skills class, where they learned about financial literacy from an area banker.
Initially, participants had no financial goals, but after the class, they planned to follow the banker's advice, including:
- Starting a savings account
- Setting long-term goals for buying a car or house
They learned about the 50/30/20 rule, which refers to spending 50 percent of your income on needs and 30 percent on wants, while setting aside 20 percent for savings and/or debt repayment.
Laura Mason, community case manager at Juvenile Services, explained that the goal of these Life Skills sessions is to provide JS clients with tools to build confidence, become more independent, and navigate the challenges of adulthood.
Mason and her colleagues aim to see their youth succeed in life and become productive members of society.
Author's summary: JS clients gain financial knowledge at Life Skills class.
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