The United States is facing tough financial times. It is never too early to learn how to manage finances or be a smart shopper. Kentucky 4-H offers financial and consumer education to help youth develop sound financial management skills. Teaching young people about finances early is very important in helping them establish sound financial practices as they age. A study conducted by researchers at Cambridge University in 2013 found that youth establish money habits as early as age 7. A 2014 study conducted by researchers at the Federal Reserve Board showed young people who were exposed to personal finance education had credit scores between seven to 29 points higher than students who did not have financial education classes. 

To develop family financial skills in local youth, the Breckinridge County Extension Office and Youth Service Center hosted “It’s Your Reality” (formerly Reality Store) for 221 youth (8th grade) at Breckinridge County Middle School. In preparation for this program, youth discussed different career paths, salaries, and education requirements, while completing lessons from the 4-H It’s Your Reality curriculum. Due to the covid-19 pandemic, the It’s Your Reality culminating program was held virtually with the help of 20 community volunteers. These adult and teen community leaders recorded booth presentations at the Breckinridge County Extension Office and the Extension staff compiled, edited, and uploaded the virtual program on the Breckinridge County 4-H YouTube Channel at: https://youtu.be/bV-afj9SeF4. Each youth received a student booklet adapted for this virtual program with check register and booth pricing options, to follow along with the video. Youth gained the experience of paying monthly bills using the career and salary assigned to them based on their career interests and GPA. During “It’s Your Reality,” youth visited virtual booths such as Housing, Transportation, Clothing, Child Care, and Entertainment where they made financial decisions on how to spend or save their monthly salary. Youth kept records of their deposits, expenditures, and savings as they visited each booth. 

After participating in this program, youth had a better understanding of the following: budgeting money (83%), how to make wise financial choices (89%), the link between career choices and lifestyle (88%), the cost of maintaining a household and family (88%), the cost of raising a child (82%), and understanding of savings and economic goals (91%). Youth shared that “this experience will help me make tough decisions in the future,” “I didn’t know how much work it was to take care of a child,” and “this opened my eyes and made me realize how much my grandparent/guardians spend on me.” The “It’s Your Reality” program has prepared Breckinridge County youth for the future by teaching consumer and family financial skills.