Kimberly Jones, Tarifa, Todd | 3/24/2011 9:40:09 PM
Living Your Financial Experience (LYFE) is an easy-to-use financial education solution for participants in need of resources to improve their financial well-being.
LYFE will aid in teaching teens the fundamentals of sound money management through a simulated financial hands-on activity. High school students learn about designing a financial plan, managing income and credit, saving to achieve financial goals and protecting assets. After completing the program, many students establish a regular savings plan, open a checking account to track their spending and develop a budget to meet financial goals such as college. The most important aspect of the program is that it teaches teens how to manage their finances on their own after high school.
In the LYFE exercise, participants receive a debit card, a deposit slip and an account register. After earnings are deposited minus taxes and savings, students make spending choices about housing, transportation, insurance, utilities, groceries, clothing and entertainment. But they don't have all the control – at any point they may have to draw from the "deck of chances" that represent some of the unexpected expenses of adult life.
The overall goal of the LYFE program is to increase financial literacy by providing research-based educational resources that will help schools and communities.
For more information contact Kimberly Jones at 225-578-2196.
The LSU AgCenter and the LSU College of Agriculture