Family Financial Enrichment Program
To address the need for early financial education, the Family Financial Enrichment Program is aimed at building and molding the financial skills of local high school students and their parents. The Family Financial Enrichment Program fosters self-sufficiency and increases the financial capabilities of underserved families through financial education and empowerment. The program targets underserved, minority and/or low-income teenagers and their parents.
During the high school years, teenagers gain their first opportunity to enter into the working world. Whether it is through babysitting or a part-time after school job, teenagers often gain their first opportunity to earn their own money during the high school years. In the near future, these teenagers will enter college or establish full-time employment. It is during these early adult years that banks and credit card companies bombard them with offers. That makes these years crucial. The decisions young people make may follow them throughout the rest of their lives. Accepting high interest loans, too many credit cards, and making poor financial decisions could irreparably damage their credit. Learning the fundamentals of financial management during the high school years places them well on the road to a solid financial future.
Money management skills, knowledge of
credit and debt, and effective
savings strategies are vital elements to
the elevation of underserved communities. A
deficiency of financial management skills, the
poor use of credit, and increasing debt are key
obstacles to building wealth. By giving youth
the important financial management education
they need early, the Family Financial
Enrichment Program prepares them to
become leaders and savvy financial participants
in their communities. It teaches them to
make sound financial decisions and avoid the
mistakes that previous generations have
made due to a lack of sound financial
management
knowledge.