Financial capability is having the knowledge and skills to manage financial resources. It provides the foundation that youth need to become self-sufficient adults. The following resources can be used by service providers and youth to prepare youth to navigate the financial marketplace and to set and reach financial goals.
Building Blocks to Help Youth Achieve Financial Capability: A New Model and Recommendations (PDF - 1,612 KB)
Consumer Financial Protection Bureau (2016)
Examines how youth typically obtain critical attributes, abilities, and opportunities to support the development of financial capability and well-being.
Building Financial Capability: A Planning Guide for Integrated Services
Guides community-based organizations—including those serving youth—about how to provide financial capability services, including how to integrate them into existing services, such as housing, job training, or Head Start. The guide walks users step-by-step through the process of developing an integration plan, beginning with developing a deeper understanding of clients’ financial circumstances and which financial capability services can help them improve their situations.
Building Financial Capacity: A Planning Guide for Integrated Services [Webinar]
Capacity Building Center for States (2015)
Explores how to design, integrate, and implement financial capability services into existing programs targeted at youth who are transitioning out of foster care to help them manage their financial resources and avoid chronic financial instability. Presenters include Matthew Hudson, the Center’s Youth Development program area manager; Kori Hattemer, a senior program manager in Savings and Financial Capability at the Corporation for Enterprise Development; and Lynne Wright, the Center’s program area advisor for Youth Development.
Financial Capability & Literacy
Informs youth about the skillset needed to achieve and meet financial obligations and be secure to make wise financial decisions.
Financial Capability for Youth and Child Welfare [Webinar]
Capacity Building Center for States (2015)
Provides an overview of resources and strategies to enhance approaches for providing financial capability training for youth who are transitioning out of foster care. Child welfare directors, foster care managers, and independent living coordinators may find this webinar helpful. Presenters include Matthew Hudson, the Center’s Youth Development program area manager; Kori Hattemer, a senior program manager in Savings and Financial Capability at the Corporation for Enterprise Development; Lynne Wright, the Center’s program area advisor for Youth Development; and Kim Lemcke, a Minnesota independent living coordinator.
A Financial Empowerment Toolkit for Youth and Young Adults in Foster Care
U.S. Department of Health and Human Services, Children’s Bureau (2014)
Provides child welfare caseworkers, foster parents, and other adults with tools to build their capacity to guide youth in developing their financial capabilities.
Helping Youth Achieve Financial Literacy
ACT for Youth Center for Community Action
Provides resources, activities, and curricula to help teens ensure they have the skills and knowledge to manage their finances and achieve financial literacy.
Helping Youth Start and Maintain Good Credit (PDF - 91 KB)
Consumer Financial Protection Bureau (2014)
Outlines key steps parents can utilize to ensure their children have access to their credit report status and maintain good credit standing.
The Keys to Your Financial Future Curriculum
The Annie E. Casey Foundation
Builds the financial knowledge and skills of youth to enable them to take on more financial responsibilities.
Money as You Grow: Help for Parents and Caregivers
Consumer Financial Protection Bureau
Offers parents age appropriate information to assist their children to make financial decisions with money, such as planning, saving, and spending. The webpage also lists resources and activities to help youth be financially conscious.
Supporting Youth Transitioning Out of Foster Care: Issue Brief 2: Financial Literacy and Asset Building Programs (PDF - 360 KB)
Edelstein & Lowenstein (2014)
Provides an overview of financial stability for youth in foster care. This brief describes existing financial literacy and asset-building programs as well as considerations for the field when supporting youth.
Your Money, Your Goals: A Financial Empowerment Toolkit for Social Services Programs (PDF - 1,790 KB)
Consumer Financial Protection Bureau (2015)
Equips case managers and other frontline staff to help their clients set goals, choose financial products, and build skills in managing money, credit, and debt.