Financial website helps those with wasteful spending sagas provides conversation openers and resources to address impulsive spending with youth and adults.

Spending money wisely is not always an easy thing to do. Almost everyone has an example of an impulsive buying decision, wasted money or overspending. Sometimes we have to have the personal experience to learn from the mistake. However, the end goal is to limit the number of times we make poor money decisions.

To help youth and adults recognize the impact of impulsive or wasteful spending, the National Endowment for Financial Education (NEFE) created, which provides a “safe haven for you to clear the air about what’s cluttering your life or draining your wallet.”

The website features videos showcasing confessions of fellow spendsters and allows users to upload their own videos. The website has a variety of useful resources including conversations that users can engage in with other spendsters, a “Spendster Calculator” to look at what money you would have if you had not wasted it, a blog with tips and a tools page that features helpful resources to get back on track with sound money management behaviors. There is even a page to “Help a Friend” where you can share the website with a friend, family member or significant other who needs a gentle reminder about making better spending choices.

When working with youth, this website is a helpful resource to open the conversation regarding spending behaviors. Invite youth to view various videos and then share some of their spendster behaviors. Continue the conversation by encouraging them to brainstorm strategies they might utilize to avoid repeated, wasteful choices. The website tools can be referenced to support youth in identifying strategies to use in their own life. Applying these strategies consistently will have a significant impact on the young person’s current and future financial position.

Michigan State University Extension 4-H Youth Development has many additional resources to help youth navigate financial decisions as well as equip adults to educate youth on these topics.

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