Changing Lives by Teaching ‘Money Matters’
Roxanne Spillett is on a mission to change lives. And she has the results to prove it.
“Boys & Girls Clubs of America have a mission that directs us to serve kids most in need and to provide opportunities and experiences that literally change and save their lives,” said the BGCA President Emeritus. “Over the course of our 150-year history, we have transformed lives, we have changed lives, and we have saved lives. Our alumni tell us that the Boys & Girls Club taught them right from wrong. It kept them out of trouble with the law. It helped them succeed in school.”
So when Roxanne first met Charles Schwab Foundation President Carrie Schwab-Pomerantz – another woman on a mission – “I realized we had a gap around financial literacy.”
Sure, the Boys & Girls Clubs provided programs for education and character-building. But what about lessons on managing money?
“I realized that many of our kids have no way of learning financial skills,” Roxanne said. “There aren’t curriculums in schools… So if we have friends or family who don’t plan for the future, don’t spend money wisely, don’t use credit in the right way – you know, that’s what kids learn.”
Working with Charles Schwab Foundation, BGCA developed a program called Money Matters: Make It CountSM. Since the program's inception in May 2004, more than 1,700 clubs across the U.S. and on U.S. military bases worldwide have adopted Money Matters, and an estimated 375,000 teens have completed the program. Charles Schwab Foundation has also presented approximately $390,000 in college scholarships to 187 teens, ages 16-18, who completed the program and demonstrated their newly acquired financial literacy skills.
“I refer to certain programs as generation-changing. I truly believe that programs like Money Matters are generation-changing,” Roxanne said. “It teaches not only the basics of financial literacy but enables teens to have a brighter feature.”
May is Financial Life Planning for Women Month at Schwab, and we'll be featuring women's stories in our #TalkBackTuesday blog posts. Hear Roxanne Spillett's story about the financial literacy program at Boys & Girls Club of America, and add your comments: How can financial skills help change lives? What’s the best financial advice you’ve given to – or received from – another generation?
The experiences herein have been edited, may not be representative of the experience of other clients and are not indicative of future performance or success. The information provided is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice.
The Charles Schwab Corporation (“Schwab”) provides a full range of securities brokerage, banking, money management and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member, SIPC), offers investment services and products.
Charles Schwab Foundation and Boys & Girls Clubs of America collaboratively developed the Money Matters: Make It Count SM program in 2004. Charles Schwab Foundation is a nonprofit public benefit corporation, classified by the IRS as a charity under section 501(c),(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. nor its parent company The Charles Schwab Corporation.
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