Teaching Teens Fiscal Responsibility

The seeds of smart money habits are planted during the adolescent years, when teens are just beginning to work, gain independence and prepare for their future careers.

Building Blocs is non-profit organization based in Bed-Stuy that teaches community teens practical life skills needed to become successful citizens and realize their full potential. Building Blocs provides free classroom lecture series to community teens across four platforms: Financial Literacy, Career, Teen Business, and Leadership.

The Financial Literacy program, a 10-week course that meets twice a week, uses a curriculum called “Money Moves,” which explores all aspects of personal finance including banking, savings, budgeting, tax prep, planning, debt, credit, investing and consumer protection.

As an incentive, students are given the chance to earn $200 by doing optional assignments. For example, during a module on credit cards, students are given the optional assignment to shop for the best credit cards for people their age and then present that information to the class. Students complete the program by opening their own checking accounts, and there is a graduation ceremony attended by family members.

Dale Bryant, executive director of Building Blocs, emphasizes that these programs can be useful to youth of all walks of life.

“We take students who have been in trouble and students who have been at the top of their class,” he said. What’s important is that students are self-motivated and eager to learn.

Financial literacy can be a jumping-off point for developing other important life skills, such as getting and maintaining full-time employment, Mr. Bryant explained. Many Building Blocs students take the Financial Literacy class and then continue taking courses offered by the organization.

Students at Building Blocs begin to see how financial, career, business and leadership skills work together, Mr. Bryant said.

Financial knowledge is the first step for youth to get on the path toward becoming responsible, employed adults. By learning about saving money, investing wisely, and avoiding traps like high-interest credit cards, young people gain the confidence that they will be able to create and sustain long-term wealth.

This is the third in a three-part series that offers practical, affordable and easy first-steps to gaining financial empowerment