I have felt very compelled to put together some finance classes for the Young Women in our ward. We set aside four weeks for this financial course...one class for every week. My notes for each class are in the pages above. This is an important topic that I think the youth need to learn. The better the habits the youth develop now, the better off they will be in the future. These classes combined with the BYU Free Online Student Financial class (www.elearn.byu.edu) works for a Personal Progress value project! I hope you find these classes helpful. Please feel free to add or take away from the notes that I have.
Here's the Introduction to the course:
Young Women Finance Classes
Every day we are bombarded with everything from billboards to Internet ads telling us who we are and what we are worth if only we would BUY! BUY! BUY! In 1971, the average number of ads seen per week was 560. In the year 2000, the average jumped to 3,000! That is huge!
Society is defining us consciously and subconsciously by what we have—and subsequently by what we don’t.
Because of the pressure to be accepted by our peers and the world around us, we sacrifice beyond our means in order to establish our identity in the things we buy.
We have become empowered by the stuff around us rather than the spirit within us. It is time to take a stand! It is time to turn the tables and wake up our inner spirit!
Goals for the course:
• Recognize that Christ values and loves us, and that “stuff” does not define who
we are.
• Keep our youth from getting into debt so they can build wealth and give.
• Give our youth hope that they can change their financial future regardless of
their family backgrounds.
• Show teens that we are all only managers of what Heavenly Father has given us.
• Prepare the young women for living on their own.
• Have the young women fully understand the purpose of a budget and how to create
one.
• Help young women understand and create short and long-term savings goals.
• Empower our youth to grow financially, spiritually, and personally
throughout these classes.
Every decision we make, affects who and what we will become. We need to learn to control our money today, and our money won’t control us down the road. Our relationship with money and “stuff” can affect us and our relationships with others. Financial issues are the #1 cause of divorce. The earlier we prepare to make wise and sound financial decisions, the better off we’ll be…in every area of our lives!!
Here's the letter that I gave to the parents before we started the class:
Dear Parents,
Over the next few months, we will be going over a four lesson program to talk about money and financial responsibility with the Young Women. The program is designed to help the girls recognize the value they have in Heavenly Father’s eyes and discover that their self-worth has nothing to do with “stuff”. They will also learn the hazards of debt, how to create an age-appropriate budget, tools for making wise purchases, and the importance of giving and saving.
Our goal is to encourage a financial freedom and responsiblity—young people who are thankful for what they have been blessed with and are equipped with the knowledge and practical skills to be good stewards of those blessings. Throughout the course, your Young Woman may ask you questions about the following:
• Your Income and Budget
• Debt and Credit Cards
• Your Personal Savings and Personal Giving
By honestly sharing your money habits with your teens, they will be better equipped to become financially independent. It is never too early for them to learn financial responsibility!
For further home discussion, Dave Ramsey’s book, The Total Money Makeover is a great resource. Also, BYU has some great FREE online courses. They have a student financial class and one for adults as well. You can find these classes at: www.elearn.byu.edu under free classes.
The sooner Young Women grab hold of financial values, the better prepared they will be. You can even give them opportunities to practice the principles they will learn by giving them some responsibility in one or two areas. For example, you could give your Young Woman a month’s worth of lunch money at one time and trust them to budget it throughout the month. Then, check in with them regularly to make sure they are spending it accordingly! Teaching the Young Women about money in these uncertain economic times is a great gift! We are excited to offer this potentially life-changing program to your Young Women. By attending these classes and adding in some additional study, this program will count as a Personal Progress Value Project! If you have any questions, please feel free to contact me anytime.
Sincerely,
