On My Own Simulation Facilitated by Bank On Memphis
Bank On Memphis understands that when it comes to personal finances, education must comes first. That is why we have teamed up with the Family and Consumer Sciences department of The University of Tennessee Extension to bring an interactive financial education approach to young people in the Memphis Metro Area. While we welcome the opportunity to work with all students in Memphis, our efforts our focused specifically on working with students from LMI populations.
What is On My Own?
On My Own is a hands-on, real life simulation that gives students, ages 13-24, the opportunity to experience their futures in a fun and exciting way. 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 on a daily basis.
The On My Own youth financial education program is provided by the Family and Consumer Sciences department of the University of Tennessee Extension and facilitated by agents and classroom teachers trained in the On My Own program. The program is offered across the state of Tennessee and reaches over 30,000 students each year.
After exploring careers, students receive a monthly salary for their chosen career type, a family scenario, an asset and finally proceed through "real life," deducting taxes, determining a savings goal, and spending their monthly salary on the necessities as well as luxury items that reflect the career and lifestyle they have chosen.
More than 80% of participants:
How do I get Bank On Memphis to facilitate this program with my organization?
You can lend your support to this program by contacting Bank On Memphis and ask about the program. Bank On Memphis staff will be glad to discuss with you the ways in which you can support this valuable program. On My Own is appropriate for students ages 13-24 and is aligned with NEFE and Jump$tart Coalition Standards for personal financial education as well as Tennessee Core Curriculum Standards and Tennessee Personal Finance Standards set by the Board of Education.
What is On My Own?
On My Own is a hands-on, real life simulation that gives students, ages 13-24, the opportunity to experience their futures in a fun and exciting way. Participants assume they are 26 years old, are the primary or sole support of the household, and are encouraged to make healthy and wise lifestyle choices similar to those adults on a daily basis.
The On My Own youth financial education program is provided by the Family and Consumer Sciences department of the University of Tennessee Extension and facilitated by agents and classroom teachers trained in the On My Own program. The program is offered across the state of Tennessee and reaches over 30,000 students each year.
After exploring careers, students receive a monthly salary for their chosen career type, a family scenario, an asset and finally proceed through "real life," deducting taxes, determining a savings goal, and spending their monthly salary on the necessities as well as luxury items that reflect the career and lifestyle they have chosen.
More than 80% of participants:
- Learned how occupation and income affect lifestyle
- Felt more strongly that they needed to pay more attention to their financial futures
- Better understood their parents' concerns about money
- Felt more strongly that they needed to get a good education
- Planned to get more education after high school
How do I get Bank On Memphis to facilitate this program with my organization?
You can lend your support to this program by contacting Bank On Memphis and ask about the program. Bank On Memphis staff will be glad to discuss with you the ways in which you can support this valuable program. On My Own is appropriate for students ages 13-24 and is aligned with NEFE and Jump$tart Coalition Standards for personal financial education as well as Tennessee Core Curriculum Standards and Tennessee Personal Finance Standards set by the Board of Education.
For more information about setting up an On My Own Simulation at your school, contact Molly Polatty,
by phone at 901-222-0206
or by email mpolatty@shelbycountytrustee.com
or complete this interest form.
This program was developed by:
