Managing money properly is a key life skill that we encourage the young women in our programs to begin developing before they complete secondary school.
Recently, our Townsville Stars got some expert advice courtesy of Shonna, who visited the Stars Room to deliver some financial literacy sessions on behalf of our wonderful corporate partner, Bank of Queensland.
Shonna worked with students on the Five Core Competencies of Financial Literacy: earning, saving, spending, borrowing and protecting.
The sessions prompted a lot of discussion about how much it actually costs to live, what you need to spend your money on versus what you want to spend your money on, and how to develop a realistic budget.
Students then worked in groups to come up with a weekly budget and figure out how much they would be able to save each week.
This scenario planning helped open their eyes to what it might be like when they finish school and move out of home, while also giving them some helpful tools and advice to ensure that they know how to use and save their money effectively.
Thank you to Shonna and Bank of Queensland for helping our build on our Stars understanding of how to manage money – a skill that they will need to use for the rest of their lives.