When I’m planning my first budget for personal expenses, help me to learn financial literacy through interactive workshops or apps, so that I can manage money responsibly and plan for my future.
Daniel, a 16-year-old, found himself in his usual evening routine—scrolling through social media, catching up on posts, and enjoying various online content. But tonight, he felt a tug of concern, a growing desire to take charge of his finances. Amidst his regular activities, he struggled to find clarity in managing his expenses. Spending more time with friends on the weekends, who wanted to do more expensive activities, made him worry about not being able to participate anymore. His old approach of letting money take care of itself wasn’t cutting it anymore, and he realized that being responsible with money mattered to him.
During this mental tug-of-war, Daniel’s brain was buzzing with thoughts about decision-making and stepping out of his comfort zone into the realm of financial planning.
Sensing her son’s unease, Daniel’s mother initiated a conversation, discussing his newfound interest in understanding personal finance. She encouraged him to explore financial literacy resources—Step 1 of the Pathway—prompting Daniel to question how managing money responsibly could positively impact his future and what it would mean to him. He found a story online of a teenager his age who had developed good money habits and was now traveling the world.
Inspired by his mother’s guidance, Daniel embarked on Step 2, seeking more information about the rewards of good financial habits and the difficulties with poor money management. He discovered that there were apps and workshops to boost his financial knowledge. He considered how having good money skills would help him accomplish his goals of helping others, knowing that he could count on his family for support.
Through this process, Daniel formulated outcome statements—Step 3—envisioning himself equipped with the skills to manage his expenses effectively within a specified time frame. He developed outcome statements that were valuable to him, considering what good money management meant to him and what progress would look like. He also delved into online platforms and interactive tools, researching ways to grasp the fundamentals of budgeting and financial planning, making a list of possible candidates to select the workshop and apps in 5 days.
However, Step 4, the decision-making phase, presented a roadblock. Feeling overwhelmed by the array of financial tools available and unsure which to trust, Daniel sought his mother’s counsel. Together, they evaluated different resources, allowing Daniel to select the most appropriate learning tool.
With his choice made, Daniel committed himself to diligently using the selected financial app—Step 5. He meticulously organized his learning schedule—Step 6—dedicating specific time slots to understand the app’s features and principles of budgeting, sharing a calendar with his mother for assistance.
As Daniel began actively engaging with the app—Step 7—he encountered some challenges. The topics were complex and confusing at times. However, with commitment and the knowledge that the information would provide him the outcomes he wanted, he persevered.
In Step 8, Daniel evaluated its impact on his understanding of personal finance. Feeling unsure about certain concepts, he sought guidance from his mother, who helped clarify and reinforce his learning, making changes in the pace of the learning.
Having navigated his initial learning curve, Daniel shared his progress with friends and classmates, advocating the importance of financial literacy and the efficacy of the app he found useful—Step 10.
His proficiency in managing personal expenses and his newfound grasp of financial literacy became Daniel’s optimal outcome, measured against his initial struggle to understand and initiate responsible budgeting.