Tough economic times across the country often serve to highlight the continued need for building financial skills among young adults and youth. A 2014 Federal Reserve report found that students who were exposed to personal finance education had credit scores that were 7 to 29 points higher than those of students who weren’t. Financial literacy has been consistently identified by 4-H leaders, teachers, community leaders, and extension volunteers as an important area for continued educational efforts. The Lincoln County Extension Agent for 4-H Youth Development Education partnered with the Family Resource Center Coordinator to bring the 4-H Dollars and Sense program to all 4^th and 5^th grade students at two local elementary schools. 

This program has goals of teaching students how to create a personal budget, the difference between needs and wants, and how their current actions can influence their future career options. Before the event, educational lessons were presented in classrooms by teachers. Lessons covered topics such as money habits, budgeting, goal setting, and more. All 167 youth visited the Dollars and Sense Store with $50 of fake 4-H bucks for their monthly allowance. Youth were required to visit all stations, which included things like Uncle Sam, where taxes were paid, groceries, pet care, transportation, entertainment, and more. There was also a "crystal ball" booth where youth had to draw a card that contained unexpected life expense that they had to incorporate into their budget. If youth ran out of money, they were directed to the SOS booth for help on trimming their budget or getting a second job.

All youth completed pre and post- evaluations. 

Before completing the program, 43% thought it was difficult to manage money. After completing the final activity, 58% found it difficult to manage money, showing that youth had an eye-opening experience on the difficulties of managing money. 

Before the program, 52% of youth reported that they sometimes considered the cost of an item before purchasing. After the program, 81% reports that they now always consider the cost of an item before buying. 

Overall survey results indicate the following:

95% of participants can identify the difference between a want and a need.

87% of youth can identify the purpose of a personal budget

89% can explain how career choices will help them earn more

Comments from student evaluations:

“I learned that saving money was hard.:

“I learned that regular things you buy everyday aren’t cheap:

“There are some things that will make you flat broke.”

“When you don’t have a lot of money to spend, you should spend it wisely.”

“It is hard to manage your money and that you have to think ahead to succeed.”