Empowering LA Youth Through Financial Education

Income inequality

City of Los Angeles (select only if your project has a citywide benefit)

Expand existing project, program, or initiative (expanding and continuing ongoing, successful work)

Lack of financial literacy disproportionately impacts underserved communities, perpetuating cycles of poverty and widening income inequality. Many LA residents- especially youth, BIPOC populations, and low-income families- face systemic barriers to economic mobility due to limited access to reliable financial education. Without foundational knowledge on saving, budgeting, and avoiding predatory practices, these communities are often left vulnerable.
In 2022, the Youth Dev Dept released an LA wide financial literacy survey among youth minority populations. “48% reported not learning basic financial literacy concepts, such as budgeting, spending, loans, and credit cards, until at least age 16. 51% reported not being offered financial literacy in their K-12 schools, and 89% reported an interest in learning more about financial literacy.”
FB seeks to address this gap by offering free, culturally responsive financial ed. that promotes long-term financial health and economic opportunity.

This project expands Financial Beginnings’ proven financial education model to serve 1,500 new learners in underserved Los Angeles communities. We partner with schools and nonprofits who otherwise would not have access to financial education, to deliver free in-person and online workshops that cover banking basics, budgeting, credit, investing, fraud prevention, and more. The curriculum is Jump$tart-accredited, annually revised, culturally relevant, and tailored for different age groups. Volunteers, many from the financial industry, will deliver programming in community-centered settings, building trust and providing relatable instruction. This program includes outreach, materials, volunteer training, and rigorous evaluation. In the LA metro area, among dozens of community-based partnerships, we are currently running a pilot program at Cal State Long Beach. With support we will be able to scale this pilot to the four other Cal State locations in LA.
Financial Beginnings is close to the completion of a complex and vital project, the translation of our SAFE program into Spanish. Once this translation is complete, we will dramatically expand the reach and inclusivity of our work.
By supporting this work, LA 2050 will help us expand this coordinated regional strategy, delivering long-term impact through trusted institutions and community-rooted partnerships

Youth across LA, particularly in under-resourced areas, will gain critical financial literacy skills that prepare them for real-world success. Students will leave our programs knowing how to budget, save, understand credit, and avoid financial scams. This early intervention builds a foundation for long-term economic mobility, reducing future debt burdens and increasing college and career readiness. As a 2022 study from the NIH, Financial Worries and Psychological Distress reports, “financial stress is a serious and widespread component of what makes teens stressed, with 78% identifying as being stressed about money In the long run, financially educated youth become adults who are better equipped to navigate LA’s high cost of living, contribute to local economies, and break cycles of generational poverty. Our work helps create a more financially empowered and equitable LA for the next generation, which supports LA becoming the best city to live, play, connect, learn and create.