Why the Youth Need to Be Financially Literate

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In this era where technical skills are seen to be given more spotlight than any other skills, the youth need to learn about finances. Money used to be a thing to be talked about among adults however nowadays the youth are picking up on using their talents to create income. Due to this, they ought to be financially equipped. It will help them live a successful life, secure in the knowledge that they are financially stable and have a genuine respect for the value of the money they earn.
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Think about the young YouTube stars or influencers around the world who are reaping big from showing up online everyday. Once they pick up good financial habits, they tend to emulate them as they grow into adults. 


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At It’$ My Money, our financial workshops are tailored to accommodate youth with knowledge around personal finance. While at St. Jude’s we taught the following aspects in regards to proper finance management: 

• Saving
• Budgeting 
• Entrepreneurship

We believe financial literacy is not tied to age hence our involvement with St. Jude’s Girls School in Trinidad and Tobago for over four years now where we have held It$  My Money financial workshops. 

The pandemic stalled our in person workshops nevertheless we decided to carry on virtually and the girls have testified to such great impact from the workshops. 

How effectual the workshops were to the girls 
We spoke to 3 of the 10 girls who attended the workshops that year and this is what one of them had to say, “ Not only did I learn how to be an entrepreneur but I also learned what to teach other people”.

Another said she was now saving and spending her money better while the other said the workshops showed her that can become the strong independent woman she hopes to become through practicing great financial behavior. 

Studies show that youth who underwent money talks demonstrated positive behavior changes and had more intentionality to speak about money to their parents. 

Financial illiteracy is not an issue unique to any one population. It affects everyone: men and women, young and old, across all racial and socioeconomic lines. No longer can we stand by and ignore this problem. The economic future of the United States depends on it." President's Advisory Council on Financial Literacy. Might I add the is true beyond the United States. Budgeting is one great way to help manage your money. Using electronic budgeting envelopes certainly helps. Check out how here.
 
We cannot separate the subject of money from kids therefore we ought to teach them about how to wisely use it. Hearing how impactful the workshops were to the girls from cultivating better spending, saving habits as well as inciting their zeal to teach others what to do, we are inspired to do the same for youth. 

How do I get my youth to become financially literate? 
If you are looking to equip your youth with the financial education they need, It$ My Money is here to help you with that. 

To give you greater insight into how valuable the It’$ My Money workshops are, listen to our recent episode here with 3 of the 10 girls in St. Jude’s School in Trinidad and Tobago. 

When you are ready to make it happen for your youth, connect with us here and let’s make it.