Money $ense for Kids

Money $ense for Kids teaches 9-13 year olds money management skills. Offered as a day camp, participants learn five basic financial skills: Be Money Wise (goal-setting, wants and needs), Stash Your Cash (savings), Check It Out (checking accounts and banking services), Buy Here! (advertising), and The Grand Total (spending plans).

Participants receive a play-money “budget” to use for snacks, lunch and other purchases. They identify their needs and wants and consider ways to earn money or save for goals. Videos help them learn the power of advertising and comparison-shopping allows them to make consumer decisions. During tours of a bank they learn how to open savings and checking accounts and banking services. They return to practice check writing. Finally, role-playing family budget choices builds an understanding of decisions their own family makes about spending and saving...

Programs in Cerro Gordo, Franklin, Hancock, Kossuth, Mitchell, Winnebago and Worth counties have benefited 223 youth through individual program segments, and 135 children at Money $ense day camps. With some materials translated into Spanish, 59 Latino children attended Mundo Magico Money $ense day camps in Franklin, Hancock and Wright counties. Of the 71 participants who returned a 6 month evaluation: 69% (49) learned how to budget, 51% (36) learned how to write a check, 45% (32) plan to spend wisely, and 44% (31) plan to begin saving. One participant said, “I’m using the information I learned by trying to keep a record of the money I earn and spend.” Another said, “I won’t spend so much money on wants.”

Money $ense for Kids was developed by Extension Family Resource Management Specialists Susan McDonnell and Ellen Spurlock. It is used in Iowa and eleven other states.

Contact:
Susan McDonnell 
Family Resource Management Specialist
Iowa State University Extension
509 1/2 State St, Osage, IA 50461
Phone or Fax 641-732-5574
Email suemcd@iastate.edu