The Last Generation To Start From Scratch – Young Money Finances
Dondre Brown, Executive Director Young Money Finances presented at our November coalition meeting on Finances. The meeting was packed with parents and teenagers eager to learn about finances in a powerful and engaging way.
Dondre discussed the following topics:
- What Impacts Our Money (Family and Finances)
- Financial Reality Check (Healthy Financial Behaviors)
- Financial Management Strategies (Ways to Navigate the Unexpected)
- Nest Steps: What to do today…and tomorrow!
- Q & A
The presentation was very interactive with participants as well as informative. One attendee noted, “This reinforced what I already knew and gave me encouragement and fire to continue on my journey.” Another attendee shared, “It gave me a different way to view things that I’ve been taught before.”
The information provided was relevant to the audience, especially given the holiday season and relatable to teens as well as adults. During his presentation he asked a couple of teenagers who participated in the Young Money Finance Camps over the summer what the 3 P’s were that he talks about and without hesitation they were able to answer: Plan, Prioritize & Pay. Dondre shared that this shows that the teenagers are listening and the information that they are learning is making an impact.
Another powerful moment during the presentation was Dondre sharing that he and his family recently went on a vacation to Disney World. Dondre stresses to Young Money Finance participants that, “We will be the last generation to start from scratch!” He is practicing what he is teaching and encouraging his children to be successful and incorporate financial principles in their own lives, as his children researched and paid for their own flights and tickets to Disney World. One of his teenage daughters even pays for her own phone bill and another child purchased their own PlayStation 5.
Dondre ended his presentation with reinforcing information shared during the presentation by asking questions that attendees were able to answer and win prizes. Dondre also donated Young Money Finances planning books and gift cards to be given away as well! It was truly a powerful meeting with attendees learning an abundance of information in an energetic way. Attendees shared the following about what they learned:
- Spending freeze was a new term, and also [that finance is ]20% numbers & 80% behavior.
- I needed to be reminded about costs to include in my budget like memberships, medicine, etc. — I forget about things like that!
- You have to have a good relationship with money and learn to budget.
- That it’s OK to say no to the little things for the big goals.
- Emergency fund can start with 1 penny.
100% of attendees surveyed found the information presented to be extremely informative or very informative and 85% of attendees believe that the meeting improved their knowledge about finances.
Lastly, Dondre shared information about the Financially Lit video challenge where teens could create financial literacy videos and early $30-$90 per video. This challenge has ended for 2023 but keep an eye out on the Young Money Finance Website https://www.ymfgr.org/ to learn more about upcoming challenges, financial camps or other opportunities.