Junior Achievement of Central PA

Americans Financially Unprepared To Handle Unexpected Health Issues

The 2012 Aflac WorkForces Report revealed six out of 10 workers (62%) think it’s not very or not at all likely they or a family member will be diagnosed with a serious illness like cancer, and more than half (55%) said they were not very or not at all likely to be diagnosed with a chronic illness, such as heart disease or diabetes.

These key findings are from a national study released recently, analyzing forces impacting the trends, attitudes, and use of employee benefits. The 2012 Aflac WorkForces Report is an online survey of nearly 1,900 benefits decision-makers and more than 6,100 U.S. workers, conducted in January and February 2012 by Research Now and released by Aflac, the No. 1 provider of supplemental and guaranteed-renewable insurance in the United States.

Despite optimism about their physical health, the study reveals that American workers also are concerned about their financial health, and many admit they are unprepared to handle the financial consequences of a serious illness or accident in their family.

Financially Smart Starts at Home and in School

Kids of all ages need to understand the importance of money management from the time they make their first decision to spend that allowance from mom and dad or that couple of dollars received from grandma and grandpa. So, who is the responsible party to institute this education? The responsibility starts at home and should be echoed in the classroom.

Why is this so important? Because a recent survey [March 2012] by Junior Achievement USA with teens aged 14-18 discovered that those surveyed have lower confidence in their money management abilities then teens surveyed just 12 months prior.

Young Women’s Futures Symposium

It’s Symposium week at JACP! The SUN YWFS is happening today at Bucknell University and the first-ever Lancaster YMFS happens Thursday at Millersville University. In honor of this fantastic event for high school students, the below article is from Pam Burns, SUN YWFS co-chair:

Seven in 10 girls suffer from low self-esteem, according to a 2008 national report by the Dove Self-Esteem Fund. As we all know, this lack of self-esteem can have an effect on many areas of a teen’s life – from their ability to make good decisions, to planning for their future, keeping up their grades, and forming healthy relationships.

Junior Achievement of Central PA has several events throughout the year

JA = Education That Lasts a Lifetime

Below is a letter from a student at Georgetown University who participated in the JA program in Texas. His inspiring words are why we do what we do, hopefully it will inspire you to continue connecting with students and teaching them valuable financial literacy skills.

Dear Junior Achievement:

When I addressed my classmates as the Salutatorian of the W.H. Adamson High School of Dallas Texas, my heart was filled with gratitude for all the people that had led me to this great success: my parents, my teachers and many who believe in my dream. I couldn’t have done it without any of them. The truth is that nobody can do it on their own. Every student needs a push. That is why your service and support of Junior Achievement is so important.

New Financial Literacy Survey: 56% of Adults Don’t Budget

More than half of U.S. adults—56%—admit they do not have a budget, according to the 2012 Financial Literacy Survey, released April, 2012 in recognition of Financial Literacy Month.

The survey was conducted by the National Foundation for Credit Counseling (NFCC) and the Network Branded Prepaid Card Association (NBPCA). In its sixth year, the survey provides annual data and trending about Americans’ attitudes and behaviors related to personal finance.

The survey revealed “a disturbing lack of basic financial skills that are critical to building a stable financial future,” said the two organizations.

Among other findings:

The Millionaire Next Door

Last week I heard a radio interview with a Chinese factory worker who was surprised to find out that not all Americans lived in mansions. Who could blame him? Given the prevalence of overpriced cars and oversized houses in American media, the illusion isn’t limited to those outside our borders. Scores of American youth grow up expecting to live like the characters on their favorite TV shows. Many of them will leverage their financial future to obtain that lifestyle.

When I graduated from high school, I was given a copy of The Millionaire Next Door. The book was nearly a decade old by then,

JA Students Teach Volunteers a Thing or Two…

Being involved with Junior Achievement has taught me that the program’s benefits are without limit. As a classroom volunteer, program coordinator within several school districts, and board member of JA of Middle America (where Exchange City got its start), and JA of Kansas, I experienced the organization from the ground up. And while governance and implementation duties are of critical importance to setting the direction of JA, no role has been more significant – and enjoyable – to me than the classroom volunteer.

Teaching JA in a room full of eager students, who are excited to invite you into their world as their guest,

Financial Literacy Begins at Home: JA Helps Parents Ignite the Spark

Parents are responsible for teaching children many things as they mature into adulthood. A very important lesson that may not get the attention it deserves is teaching children about personal finances: the importance of wise spending habits and the security of saving money for their future. Public and private schools have many programs in place that give children a head start to financial literacy, but the reinforcement has to be done at home.

I can recall how my parents taught me the importance of personal finances. I was in seventh grade when I became infatuated with skateboarding. I would spend entire days skateboarding with my friends. I couldn’t get enough of trying to master the half-pipe in the backyard of my fellow skateboarding friend, built by his parents. Between equipment and clothing, my parents quickly realized that skateboarding was becoming quite an expensive sport.

Do High School Seniors Need a Refresher of the JA 1st Grade Lesson: Needs vs. Wants?

This year, families with teens are expected to spend an average of $1,078 on prom, up from $807 last year, according to data from a survey released today by Visa that includes results based on a thousand telephone interviews conducted at the end of last month.

“This is social-arms-race spending. It’s extreme,” says Jason Alderman, director of Visa’s financial education programs. Spending has been driven to never-before-seen levels as teens are influenced by everything from celebrities and reality TV to the prevalence of social media, experts say.

Investment in Financial Education Yields a Productive Workforce

Our work with the Lancaster County Workforce Investment Board’s Youth Council is extensive. Often times the participants in our youth programs have had little or no experience with finances. The programs that we’ve put together include a component of budgeting and money management. For many in the program this may be the first time they’ve ever had any education on how to budget or set up a savings account. Earning and saving is a basic concept, yet young people may not have had the experiences to make wise choices when it comes to money. We want young people to thrive by giving them the tools to make decisions that will sustain a healthy and happy lifestyle. A big part of that can be as simple as providing experiences that will educate youth on budgeting, saving, and spending. Helping kids learn about how math relates directly to the world of work is a goal that we strive to hit through the Career Camps and various workforce activities. There are currently 15 camps focusing on Science, Technology, Engineering and Math this summer in the partnership called the Summer of STEM Camps.

The Youth Council also supports schools through workforce education. School districts have different needs and some choose to use the support we provide to include the Junior Achievement’s Biztown program. Biztown is an economics based program that teaches elementary kids financial skills from money management to bank loans and taxes. We know the value of work and how that contributes to our local economy and the development of a highly trained, skilled and well prepared workforce. Educating young people about local employers and occupations in Lancaster County helps align their skill training to local business needs, therefore supplying our local employers with a well-qualified employee. It comes full circle. Local labor market, top jobs, job shadowing, skill training are all a part of what we do and what we share with young people to guide them to an informed and wise career choice.

— Submitted by Andrew Garner, Youth Coordinator
Lancaster County Workforce Investment Board

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