Teaching Youth the Language of Money
Financial Education
Since the beginning of the multi-year grant investment, the focus has been on hiring low/moderate income disadvantaged youth and engaging them in financial empowerment & education. The target group is students 16‐19 years from area census tracts with 51% LMI. These candidates need to be City of Miami residents and must pass background checks and health screening tests. Additional screenings are sometimes needed depending on where the student is placed, like a City park or a Police unit.
Candidates are matched and placed throughout City departments and select City partner agencies. Positions are aligned within broad functional areas such as:
- Administrative/clerical
- Computer related duties
- Customer service
- Outdoor field related activities.
In order to increase retention, minimize transportation costs and improve participation from all areas, City staff’s goal is to assign students to City sites that are located near the youth’s home or are easily accessible to public transportation.
Since 2014, the City has been able to provide this opportunity to over 820 youth from disadvantage neighborhoods in the City. Since inception, the students have been able to accumulate assets in savings totaling over $400,000.
Our goal is to educate youth on:
- Managing Money
- Setting financial goals
- Opening a bank account
Our goal is accomplished through personalized financial coaching that includes (2) x one-on-one sessions and group sessions.