The Bite of Reality workshops assign teens an occupation, credit score, dependents and various other obligations, then participants spend their ‘salaries’ at booths offering housing, child care, transportation, food, clothing, etc.
credit scores. She likes to offer those classes or workshops during the spring semester when seniors are excited about nearly being done with school, but also in “the wondering-how-I-am-going-to-make-it phase.” 10,000 Degrees San Rafael nonprofit 10,000 Degrees has been providing financial literacy workshops to students since 2018. Educational equity is its mission, giving support to students furthest from opportunity so they can achieve success throughout college and beyond. Their Money Matters program goes into high schools throughout the Bay Area, offering two different versions in which students can participate. Option one, is its Budgeting for College workshop. Students receive a college portfolio with a sample offer letter. They apply a financial aid amount to pay for essentials like books, supplies, personal hygiene—anything they would need while away at college. “It teaches them to use their financial aid and budget it properly,” says Maria Hernandez, senior manager of program operations at 10,000 Degrees. “The valuable lesson is that college is affordable when financial aid is properly used.” High school sophomores, juniors and seniors are eligible to participate. The alternative program is the Money Matters workshop, which focuses on careers and day-to-day expenses. “Students get a portfolio with a packet of job titles, income and a job description,” says Hernandez. The portfolio shows a yearly salary broken down to a monthly income—and participants use the income to budget day-to-day costs such as housing, transportation, groceries, savings and
entertainment. “The goal is to show students that the career they have and their post-secondary education impacts what they can purchase, as well as earning potential,” says Hernandez. Last year, the nonprofit completed 30 workshops at more than 18 schools within the seven counties it serves, including Marin, Sonoma, Napa, Lake, Contra Costa, San Francisco and Santa Clara. With more than 2,000 student participants in 2023, 10,000 Degrees’ goal is to increase its Money Matters reach annually. “Next year’s goal is to have more events and more students participating. We’re aiming to do 30 to 40 by the end of this year,” she says. For schools interested in hosting a Money Matters workshop, 10,000 Degrees’ website has an event-request section. Volunteers can sign up as well. “There are 11 tables [throughout the event] that need volunteers to operate them and engage with students,” says Hernandez. “We include 460 volunteers across 34 organizations. There’s a lot of local participation. This year we hope to continue that. No volunteer experience needed.” For information on how to plan a workshop or be a volunteer at a future event, visit 10000degrees.org . Bottom line The increasing awareness of the importance of financial literacy is fueling businesses and nonprofits to develop more engaging ways of reaching young people. From workshops to community centers to schools, the opportunity to learn personal finance is making an impact on all ages. g
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September 2024
NorthBaybiz 53
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