In response to your recent article in Business Lexington entitled “Talking to Children and Teens About Money,” I am excited to share how Girl Scouts is empowering girls to be financially literate one cookie at a time.
For 100 years, Girl Scouts has built leadership in girls.The $760 million Girl Scout Cookie Program is the largest and longest running girl-led business in the country, with girls selling more that 200 million boxes a year, and generates immeasurable benefits for girls.
Girl Scouts recognizes that financial literacy skills are more important now than they have ever been. Many parents are not aware of the steps they need to take to encourage growth in this area, and most schools do not have the time to invest in this elective material. While there are financial literacy programs available, most do not start early enough; In fact, experts recommend that young people need to start talking about money as early as kindergarten. Girl Scouts does just that.
Through the Girl Scout curriculum, online learning, and the Girl Scout Cookie Program, girls are learning goal setting, decision making, money management, people skills and business ethics skills.
The activity of selling cookies is directly related to helping all girls realize their full potential and become strong, confident and resourceful citizens. The nationally recognized Girl Scout Cookie Program instills money management skills in our girls beginning with the very first box of cookies they sell.
1. As a Girl Scout Daisy (kindergarten to 1st grade), girls begin to gain the understanding that goods cost money, and coins and bills have value more than simply collecting in their piggy bank. Family discussions about what is affordable become more meaningful at this time as the girls begin to understand the value and uses of money.
2. As a Girl Scout Brownie (grades 2 and 3), girls begin to see what money does and how it is used. Today most payments occur with a piece of plastic or even online; The Girl Scout Cookie Program allows the girls to understand the concept of coins and bills and gain insight on how they and their families use money day to day.
3. As a Girl Scout Junior (grades 4 and 5), girls learn to decipher “needs vs. wants.” By applying what they have learned regarding the value of money, they will learn to save hard-earned money for something they really need and want rather than being influenced by the latest trend or fancy packaging.
4. As a Girl Scout Cadette (grades 6 through 8), girls evaluate their spending habits while comparing them to their saving goals, by applying what they have learned with regard to the value of money, the concept of its use and the ability to decipher between needs and wants.
5. As a Girl Scout Senior (grade 9 and 10), girls are able to begin conversations about their educational future financially as well as their first big purchases. Instead of asking their parents to cover their expenses, these girls set goals, develop budgets and make informed decisions to extend financial responsibility to themselves for that first phone or even a car.
6. As a Girl Scout Ambassador (grades 11 and 12), girls understand the reality of becoming self reliant and living on their own. They learn to create a future budget, and will be able to better handle life after high school with a realistic view of what it will cost. This is also the time in which the girls will begin to evaluate what it means to establish good credit, and with this knowledge they will be able to evaluate the risks of a credit card or loan.
The Girl Scout mission is to build girls of courage, confidence and character to make the world a better place. By providing an in-depth financial literacy program for all girls through our cookie sales program we are able to instill the knowledge they will need to lead healthy, successful financial lives and make informed financial decisions in adulthood.
For more information visit: www.girl scouts.org/gs_central/financial_literacy/.
Susan B. Hansell, CEO, Girl Scouts of Kentucky’s Wilderness Road