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Boys & Girls Clubs of Annapolis & Anne Arundel County Receives Grant from Charles Schwab Foundation to Run Money Matters Program
Local Funding to Help Club Members Learn the Basics of Managing Money
Annapolis, Maryland – November 4, 2009 – As part of its continued commitment to promoting financial literacy, Charles Schwab Foundation has awarded Boys & Girls Clubs of Annapolis & Anne Arundel County a $6,000 grant to implement Money Matters: Make It CountSM, a program designed to help Club members build basic money management skills.
Money Matters was created by Boys & Girls Clubs of America and Charles Schwab Foundation to promote financial literacy among teens from underserved communities. Through fun, interactive activities and exercises on topics like using a checking account, managing debt, saving for college and the basics of investing, teens ages 13 to 18 learn practical ways to spend, save and invest the money they earn.
“Money Matters has proven to be a successful addition to the programs offered at Boys & Girls Clubs,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation, “but there’s still a lot of work to be done. Our research shows that fewer than half of teens know how to budget their money, and nearly a third have already accumulated debt. We believe it’s crucial to reverse these trends, and giving more teens access to the Money Matters program is an important step.”
The program has already been implemented in approximately 1,500 Clubs, reaching nearly 180,000 Boys & Girls Club teens since its inception in 2004. Designed to help teen Club members enhance their financial skills, the program consists of a variety of components, including a Teen Personal Finance Guide, Facilitator’s Guide, college scholarships and a Money Matters Web site. Money Matters also features the Schwab Employee Volunteer Program, which encourages Schwab employees to share their financial expertise with Club members and their families.
“We are grateful to Charles Schwab Foundation for its commitment to helping us prepare our Club members for the future,” said Reginald Broddie, Chief Professional Officer of Boys & Girls Clubs of Annapolis & Anne Arundel County. “Through this grant, we can provide much-needed financial education to teens who might not otherwise have access to this important information.”
