Managing money independently is a challenge for any young person. That’s certainly true for foster children who have aged out of the system and are on their own for the first time. Whether in the independent living program in Chico, CA, the transitional housing program, or truly on their own, all youth need to learn how to handle money and make smart decisions. Building financial literacy in these early adult years is something that will continue to pay off for a lifetime. 

Building a Budget That Actually Works | Independent Living Program in Chico, CA

The good news in this conversation is that budgeting doesn’t actually have to be complicated. The first step is just knowing what is coming in and what is going out. In other words, what income is available each month, and what expenses need to be covered? Once fixed expenses like rent and transportation are covered, other costs like food, clothing, and everything else can be considered. Since the independent living program in Chico, CA offers money management services, it’s wise for all young people in the program to take advantage of that feature and learn as much as they can about this critical topic. 

Money Habits That Will Work for a Lifetime

Perhaps the best thing a young person can do while in the independent living program in Chico, CA is to build solid money habits that will become second nature. These habits can include things like cooking at home whenever possible, which is good for the bank account and also overall physical health. Also, checking the bank account regularly to stay on top of things, and building a credit score to use later for bigger purchases, will go a long way. Habits are powerful things and they can work either for or against goals in life. When good money habits are established from the start, it’s much easier to keep things moving in the right direction. 

If you are eligible for the transitional housing program and interested in learning more, apply now. If you want to become a mentor for the young adults in the THP program, contact Children First Foster Family Agency.

Children First FFA is a private, non-profit organization in Northern California that is dedicated to helping change lives by providing a safe place for children to heal in a culture of love, acceptance, and consistency.