FA x Copley: Budgeting Workshop

Every organization that partners with the Office of Youth Employment for the summer youth workforce program is required to have participants go through 15 hours of professional development. Last Friday, we were able to partner with the Boston Public Library to help them reach that goal.

We teamed up with BPL @ Copley to deliver another hands-on workshop that encompassed various money-management strategies.

We kicked off with an icebreaker: If you found $10,000 tomorrow, what would you do with it?

The answers varied widely. Some stated that they would spend half and keep the other half. Others said they would save every last penny. One participant wanted to use all of it to buy a new watch. The icebreaker got them thinking, which led them to our next segment. 

We discussed budgeting, the various categories of budgeting (food, subscriptions, entertainment), and what makes a budget work. They learned that a successful budget is realistic, moves you towards your goals, and leaves room for joy. 

Afterwards, they broke out into an activity to test their knowledge. After being given a set salary based on real data, groups had to decide what aspects of the existing budget they would cut, keep, or increase. This prompted a lot of discussion, including a heated debate about how much is too much to spend on transportation.

Then came the pivot: groups were then tasked with creating a business using the money saved as startup capital. Groups pitched their companies in a Shark Tank-style presentation, showing exactly how their budgets supported their plans. One group developed a debate tutoring service, while another developed a decentralized marketplace for selling clothes. Participants were able to master their budgeting skills through hands-on application.

By the end of the program, participants left with new strategies that they could use in their everyday lives.

Even though the workshop had a wide variety of age ranges, we were still able to create an atmosphere of learning and support. Thank you to Chris Jacobs and everyone else from BPL who made this whole opportunity possible. If you are interested in supporting Fortune Avenue and all the work we do, please do not hesitate to reach out!