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Results from an evaluation of a money camp summer 2007
The Money Camp summer program was held in Virginia Beach from June 18 to June 22, 2007, from 8 a.m. to 5 p.m. The VCE staff trained the partnership how to teach the curriculum to ensure a fun-filled learning environment. Staff from the Virginia Cooperative Extension and Virginia Beach Schools Federal Credit Union administered and facilitate the program. Fourteen youth attended. They ranged in age from 12-14. Three evaluations were received from 11 participants and six month evaluations were received from 12 participants.
- Eight participants were writing financial goals at 3 months but only 6 were still writing them at 6 months.
- Seven participants had developed a written spending plan and were still using it at the 6 month evaluation.
- Eight participants said they used a plan when they went shopping. This had dropped to 5 by the time of the 6 month evaluation.
- 11 participants had saved $961.50 by the 3 month evaluation or an average of $87.41 per participant. 12 participants saved $1,549.25 or an average of $129.11.
- Eight had banks at home, 6 had an account at a bank or credit union or scholl bank. Three participants said they had a mutual fund. Five had CDs, and three had savings bonds.
- Six of the students received an allowance and 2 had jobs and 2 had their own business (cutting grass and creative designs.
- Nine participants understood that Financial Freedom was their choice and that they need to save and spend wisely.
Ten parents returned surveys.
- Nine felt the camp prepared their child to handle money more effectively.
- All ten felt the camp gave their child the tools they need to achieve financial freedom and increased the child’s knowledge about managing money.
Comments from parents:
· ‘They are eager to start investing now’.
· ‘Alyssa has a savings account that she’s watched for several years. She’s now excited to know more about how money functions in our society’.
· ‘One of my children changed his opinions about managing money to a great extent. My other child just expanded on what was already taught. To her it was like adding more knowledge’.
· ‘This is a wonderful camp! I am so glad I was told about it! My daughter now wants her own business!! Thank you for a job well done and building skills, knowledge and hope.’
· ‘Thank you for making the management of money a priority for my teen. He now sees more clearly the need to budget, save and spend wisely. These are valuable skills that will help him be successful in the career of his choice.’
For more information on what we’re doing, feel free to contact me:
Celia Ray Hayhoe, Ph.D., CFP
Family Resource Management Specialist and Assistant Professor
Virginia Tech
Department of Apparel, Housing and Resource Management
101 Wallace Hall (0410)
Blacksburg, VA 24061
540-231-3497
540-231-1697 (fax)
http://www.ahrm.vt.edu/Dept/extension.html
chayhoe@vt.edu |
