In the DC community, I have noticed that the youth are lacking the financial literacy skills they need to thrive. Without the knowledge and understanding of financial management, the youth will find it difficult to avoid the cycle of poverty as they mature through life. Most youth believe that financial literacy is just basic budgeting and saving money. However, they are unaware that there are different avenues of learning financial literacy. Understanding how to invest in stocks and bonds, managing a credit and debit card securely, exploring entrepreneurship, maintaining a good credit score, and practicing wealth building strategies play a major part as well. It is a crucial need, and it will behoove our community to start investing in the knowledge of financial management.  

According to the National Urban League, “There is a definite need for programs comprised of financial literacy skills to be offered to students to learn how to manage and implement their finances appropriately in the real world. It is urgently necessary to impart the efficacy of financial literacy onto young adults of color as it will allow them to make better financial decisions and manage their finances intergenerationally and with heightened eloquence.” I believe that equipping the youth with financial literacy skills will grant the space for them to become financially literate, learn the steps on how to break the cycle of poverty, and transform their community by creating a healthy cycle of wealth. Incorporating financial literacy education into the school curriculum and community programs will allow the youth to continuously practice these skills and spread the knowledge to their families and communities. Essentially, teaching financial literacy to Black students is not just about saving and budgeting money: it’s about breaking barriers, fostering economic independence, and laying the groundwork for generational wealth. By investing in the financial education of our Black youth, we invest in a future where economic equity and prosperity are attainable for all.  https://nul.org/news/disparities-african-american-financial-literacy-serious-problems-concept