"The key is to make responsible choices that will put you on the path to the future you want... …
Budgetball goals have a lot in common with your life goals - whether you want to "be happy," "have a family" or "make money" you'll have to choose a strategy to reach your goal. In Budgetball, what you want to do is maximize your goals by scoring more points!
Of course, one choice you have is to save up for your investments by making sacrifices...do you really need that pricey sweater or the latest computer gadget? Alternatively, you can borrow against your future earnings, and get those advantages early on. Borrowing doesn't let you off the hook, of course...you still have to make those monthly credit card payments and pay back your student loans!
Financial literacy is not just about managing your checkbook. It means taking responsibility to manage your finances so that you can pay for education, employment, housing and transportation, and health care.
Education
Education is an important requirement for increasing future opportunities in your life. According to the Bureau of Labor Statistics (2008), the unemployment rate is higher for individuals with lower levels of education. While you may have to incur additional costs for college and possibly graduate school, a reasonable amount of debt may be a good investment for ensuring future opportunities.
Employment
Employment will most likely be your primary revenue source. In other words, having a job translates into revenue. Because your work experience is important in today’s job market, it is important that you think about opportunities to build job experience and training throughout your teen and college years.
Housing and Transportation
The Center for Housing Policy (2006) indicated that housing and transportation are the two largest monthly expenditures for most American households. Therefore, it will be important that you find housing and transportation options that you can afford.
Personal Health
Young adults, ages 19 to 29, are one of the largest segments of the U.S. population without health insurance (Collins, et.al., 2008). Lack of coverage lowers the likelihood that you will get health care when you n eed it. It is important that you maintain your personal health so that you can live, work, learn and play.
Financial Health
It is also important for you and your peers to begin to understand how to manage debt, savings, and credit. Your financial health is ultimately based on your ability to manage revenue and spending. Because Americans often live in a holistic complex environment, it is important that you balance your finances between school, work, home, and play.
For example, your education level directly contributes to the type of job you can get when you enter the workforce. Your employment dictates your revenue. Your revenue in turn determines what sort of housing and transportation options you will have access to. But, you have to be financially healthy as well as physically healthy in order to achieve what you want Budgetball is the perfect way to achieve this wellness. Participants become both physically and financially fit through participating in a team sport that builds camaraderie and imparts important lessons about asset management.
You can also wrap Budgetball with information that highlights the importance of financial education. It doesn't matter whether you want a nice car, want own your own home, or to be able to dress in the latest fashions...just as long as you understand the importance, implications and consequences of achieving those goals. You can also use any of the materials as freestanding resources to educate yourself, or others, about financial literacy.