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Does being financially responsible actually make a person healthier? Research suggests that this is true. And thanks to Children’s Hospital Colorado, children can learn the basics of money management at a young age, providing time to practice and perfect these skills well before adulthood.
The negative effects and prevalence of financial stress are well documented. A July, 2018 article in Forbes links “unexpected expenses, the need to save for retirement, and out of pocket health care expenses” with physical ailments such as muscle tension, headaches, insomnia, and high blood pressure. The article reports that financial troubles and resulting stress effect 26 percent of Americans. A 2017 article in Pacific Business News references a survey from the American Psychological Association, saying that, “Sixty-one percent of Americans report that money is a significant source of stress in their lives.”
At Young Americans Center for Financial Education, children gain skills that will help them become financially-savvy adults, and the beloved Young AmeriTowne and AmeriTowne On the Road programs are no exception. Participating students learn to save by paying themselves first—they deposit money into a savings account before their checking account. They learn about budgeting by creating their own budget, taking into account recurring expenses and unexpected expenses. And, they learn the basics of investing and how it can help your money grow.
This learning is made possible through generous community support, including Children’s Hospital Colorado. Children’s is the presenting sponsor of the Medical Center shop at Young AmeriTowne in Denver and in the two portable versions that travel On the Road throughout the state. “Supporting the hands-on programs of Young Americans Center for Financial Education is an important way for us to invest in our community,” says Christy Dobson, Executive Director of Corporate and Community Relations at Children’s Hospital Colorado. “Being healthy means having a healthy body and a healthy mind, and we’re proud to support financial education for all youth, regardless of background.”
Providing this experience means that more than 33,000 young people a year can grow up learning how to spend, save, share, and invest their money wisely. Thank you, Children’s Hospital Colorado, for helping an entire generation of youth avoid the negative health effects caused by financial stress.