"Many teens enter adulthood without learning the basics of personal finance. After graduating, most Boston Public School (BPS) students find themselves unprepared for the hardships of adulthood—including managing their money. What good is learning math if you can’t keep yourself from accumulating debt or doing your own taxes?"
Those were the words of Cristalle DeJesus from an article entitled "How To Stop BPS Students From Going Broke". She is a Boston Public School student with a job. Like many students getting their first work experience, Cristalle has become acutely aware that she isn't fully informed when it comes to managing her money. She realizes how important financial literacy is and wonders why she isn't being taught this essential life skill. In Op-Ed, Cristalle interviews a fellow classmate about the lack of financial literacy education currently available to them. They share this thought with her.
This is not good. In many cases, simply learning from experience is a sound approach. However, when it comes to money, this approach can lead to disaster if you go in without any prior knowledge.
Personal debt is on the rise in the United States and Boston is one of the most expensive cities in America to live in by some measurements. Lets not have students learn from mistakes that can easily be avoided.
In Cristalle's own words: "With so many high school graduates going into business professions, it is alarming that a study by ING Direct discovered that 83 percent of teens don’t know how to manage money."
It has never been more important to give Boston Public School students the tools to combat these issues. Invest In Girls is proud to be teaching students about Financial Literacy in the Boston Metro Area.
We currently partner with Boston Public Schools like Madison Park Vocational High School and Fenway High School. At Fenway, we brought female professionals in to speak with students about good financial habits and encourage them to consider careers in finance which can go a long way in addressing wealth divides between communities.
This week we also held a workshop at Lawrence High School just outside of Boston. IIG brought in representatives from Eastern Bank to help our financial literacy lesson and show students how to open and properly manage a bank account.
Our New England Region Program Director Erin White is currently looking for more partners in the Boston Public School system and Boston Metro Area to expand our programs. Hopefully, we can expand into Cristalle's school and answer her call.