Money Skills for Teens

Sound financial habits are important for youth. That’s why SCE FCU founded a nonprofit organization, the Center for Financial Empowerment, to educate teens on wise financial habits. The CFE offers the Banzai! Program for teens – a virtual tool to help build sound money skills. The first day they use Banzai they have to begin thinking critically, decisively and analytically. They’ll get to work through, and act out, real-world spending decisions.

Banzai! Is an online supplemental curriculum. Completing the course typically requires teens to engage for 3-5 hours.

Topics include:

Money Skills for Teens

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Earning Money

Teens follow the life of a recently graduated high school student - holding a job, working long hours, and making do with what life sends them. A real-life simulation, introducing concepts including:

  • Gross income vs net income: What you earn is not what you make
  • Job trade-offs: Pros and cons of too little or too much work
  • Surprise income: Life occasionally throws a lifeline
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Spending Money

Financial literacy is all about self-control. And controlling your spending is the hardest part. Teens will:

  • Design and follow a budget
  • Track where money is stored and what it’s for, using Accounts and Jars - Banzai’s double-entry accounting system
  • Plan for unforeseen emergencies
  • Make choices and navigate financial trade-offs
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Achieving Goals

Saving isn’t about amassing a pile of money – it’s about achieving our goals. Banzai demonstrates how earning and spending money affects our ability to save for what matters most:

  • Save for important milestones in life, such as college
  • Set a little money aside from each paycheck
  • Save for a rainy day
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Protecting the Future

The road of life is covered in potholes. Banzai teaches teens how to manage some of life’s inherent risks in simple ways:

  • Spend less on healthcare by staying insured
  • Dodge deep losses using financial instruments like car and renters insurance
  • Avoid debt and minimize its costs
  • Plan ahead using “envelope budgeting”

Open Enrollment

Do you know a teen or a couple of teens that might benefit from a program like this? Simply fill out the form below and we’ll send you information on how to get started!