The Allstate Foundation announced it will renew a $20,000 grant to Junior Achievement of Georgia, a nonprofit organization that teaches students about personal financial literacy, entrepreneurship, and workforce readiness. Grant monies will support the nonprofit’s financial literacy programs in Cobb County and Marietta City middle and high schools.
“We are grateful for our long-standing partnership with the Allstate Foundation,” said Jack Harris, president of JA of Georgia. “The continued support of Allstate through both volunteer time and financial contributions allows us to increase the number of students we reach in Cobb County.”
JA of Georgia volunteers teach JA’s proven curriculum, tying in their own personal experiences to help students understand the relevancy of what they are learning. In addition to learning the importance of creating and maintaining a budget, students also discuss credit, investments, the role of insurance, and how to protect themselves from identity theft.
“The Allstate Foundation is proud to partner with Junior Achievement of Georgia for this program,” said Julianna Sparks, Allstate Foundation chairman for the Southeast Region. “It is important to empower young people with the knowledge to make informed decisions about their financial future.”
In addition to financial support, Allstate employees support Junior Achievement by volunteering to teach financial literacy programs in Marietta classrooms. The incorporation of financial literacy into the Georgia Performance Standards for Economic Understanding requires all students learn about money management. During the 2008/2009 school year, Allstate volunteers taught four JA classes at Pebblebrook High School and two at East Cobb Middle School.
In addition to financial literacy programs provided by schools and JA, parents can start teaching wise money management skills at home. There are several things parents can do to encourage their children to develop healthy spending and saving habits:
1. Set up an allowance with your child. Encourage your child to save a certain amount of that allowance, which leads to tip number 2…
2. Set up a savings account for your child, which will allow him or her to see the results of savings decisions.
3. If your child wants a large item, such as a bike or a new video game system, suggest he or she make that item a savings goal. Matching their savings dollar for dollar will help your child obtain the goal more quickly.
4. According to the Jump$tart Coalition, universities and colleges lose more students to credit card debt than to academic failure. Show your child the interest rate on your credit card, and explain that any unpaid portion of the monthly balance starts to accrue interest. Help your child understand how much more he or she would have to pay for an item if the monthly balance isn’t paid in full.
5. Direct middle and high school age child to the JA Student Center, http://studentcenter.ja.org. The building marked “Plan Your Finances” links to many activities that will help older students learn the ins and outs of creating a budget.
To provide our programs free of charge, JA of Georgia relies on the generous support of our donors.
JA of Georgia’s volunteers are the critical link between the business and education communities.
Teachers are where everything starts; get your students involved in Junior Achievement.
