As school was wrapping up this year, the Union County Extension office offered a unique program, called On My Own to teach financial literacy to youth in our county.
On My Own is a hands-on, real-life simulation that gives young people ages 13 to 18 the opportunity to experience adulthood in a fun and exciting way. During the simulation, participants assume they are 26 years old, are the primary or sole support of the household, and are encouraged to make healthy and wise lifestyle choices similar to those adults face on a daily basis.
After exploring careers, students receive a monthly salary for their chosen career type, a family scenario, and an asset. Then, they proceed through “real life,” deducting taxes, determining a savings goal, and spending their monthly salaries on the necessities as well as luxury items that reflect the career and lifestyle they have chosen.
In this time of economic uncertainty, On My Own provides valuable information to the youth of your county. The goal of the On My Own program is to provide students with insight in regard to their future financial health by teaching life lessons in regard to their choices.
It is expected that young people will realize the connection between personal lifestyle choices and financial well-being and will be able to put that knowledge to practice when they become financially responsible for their own lives.
Some facts about the On My Own program:
• On My Own financial education simulation reaches over 30,000 students annually across Tennessee.
• After participating in the On My Own program, over 80 percent of students reported discovering how much money it really takes to get by, as well as having a better understanding of their parents’ concerns about money.
• Students also reported feeling that they needed a good education and plan to obtain more education after high school.
• Through the On My Own program, students gain an understanding of financial concepts and the relationship income has to lifestyle, education and family size.
Thank you to HMMS 6th grade teachers Dean and Williams for allowing us to deliver this program through 4-H this year. We hope to offer this program in the future at the high school as well. For more information on this or upcoming UT Extension programs, please contact the Union County Extension office at 865-992-8038.