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Solano County: For Solano's Foster Youth, "Money Matters"

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Published on Apr 12, 2012

Unfortunately, foster youth have little understanding of personal finances and lack a family support structure to help them. Without a sound foundation in money management, many foster youth fail to complete post-high school education, find or maintain adequate housing, maintain good credit or make positive financial decisions. "Money Matters" is a pioneering financially literacy initiative started in 2010 to provide Solano County foster youth (ages 16-17) with tools for self-sufficiency. The program includes 16 hours of classroom instruction, special savings accounts and financial mentors. Since the programs inception, there has been a 100 percent increased understanding of personal finance, savings accounts have been opened, no fund have been withdrawn from a risk pool, and youth have been pair with mentors. Strong, ongoing relationships have been developed with community partners. Several other counties have requested the implementation document for the program with plans of starting their own.

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