This number compares to 38 percent nationally.
In order to attempt to combat this problem, a program to help teens with money management skills launched in Monroe County in October.
The new Dollars and Sense program was created by United Way of Monroe County, in partnership with the Financial Stability Alliance for South Central Indiana.
“Indiana residents are spending more money than they are making,” said Jamie Kuzemka, the Community Initiatives Director for United Way. “Many people do not have emergency savings or are poorly prepared for retirement.”
The goal of the program is “to nurture and encourage good financial habits and provide access to appropriate financial products and services for Monroe County teens,” according to a press release.
United Way aims to accomplish this by creating interactive workshops on topics like money management, goal-setting, investing and recognizing the difference between wants and needs.
The workshops began in October and Kuzemka said they have seen positive results so far.
“Teens want to get involved because the program is interactive,” Kuzemka said. “The youth know that when you ask questions you get answers and when you want to discuss things, youare heard.”
The group is partnering with local groups that already work with young people like Rhino’s Youth Center, Bloomington and Ellettsville Boys and Girls Clubs, South Central Community Action Program and the Monroe County Public Library.
The program was made possible with a grant from the FINRA Investor Education Foundation in partnership with United Way Worldwide.
