Amidst Great Economic Uncertainty, Hundreds of Boston Teens Get Financial Literacy Training at Home This Summer

As Boston’s young people continue to overcome personal challenges and experience ongoing programming disruptions caused by the Covid-19 pandemic, the City of Boston Credit Union has partnered with Boston Centers for Youth and Families (BCYF) to bring virtual financial literacy training into the homes of 400 teens across the city. A six-week program for 13- and 14-year-olds, BCYF “SuperTeens” provides high-quality service learning and leadership experiences throughout July and August.

The Credit Union is providing the resources for 400 students, led by 50 counselors, to participate in bi-weekly lessons to prepare them to build a strong foundation for their personal finances. An interactive game, Money Experience, allows users to create “themselves” within the game and make various life choices that apply to different stages of their lives. Each choice (e.g., Do you want to go to college? What kind of job are you looking for? Will you rent or buy a home?) affects the user’s finances, budget, and quality of life in real-time and gives a more in-depth representation of how personal finance works.

“The full economic impacts of this pandemic still remain to be seen, but we know our young people are going to be making critical decisions about their futures in a time of unprecedented challenges,” said City of Boston Credit Union President and CEO Daniel Waltz. “Now more than ever, it’s critical that we are helping youth build a foundation of sound financial management principles, and we’re thrilled to partner with BCYF to make it happen virtually this summer.”

Throughout the course of the summer, the youth in the SuperTeens program are mentored by BCYF staff as they participate in online webinars and professional development workshops. They also have several weekly social and recreational activities including virtual tours of museums around the world, virtual escape rooms, and online challenges that include lessons in design and journalism. Along with engaging in activities that promote civic engagement and physical/financial health and wellness, the teens develop new skills to prepare for success in schools and future jobs. Each of the students receives a stipend if they successfully complete all of the required activities and meet attendance goals.