Texas Boys & Girls Club teen receives $5,000 scholarship and 10 additional teens receive $2,500 scholarships for demonstrating exceptional financial literacy skills and leadership
Atlanta, GA – April 19, 2018 – In honor of Financial Literacy Month in April, Boys & Girls Clubs of America and Charles Schwab Foundation selected teen Arianna Akinwunmi from Frisco, Texas to serve as the 2018 National Ambassador for the Money Matters financial education program and receive a $5,000 scholarship. Now in its 14th year, the Money Matters program teaches the basics of personal finance and the importance of an early start to financial responsibility.
One in five (22 percent) U.S. teens lack basic financial literacy skills, and the U.S. ranks seventh out of 15 participating countries in the evaluation of 15-year-olds’ ability to understand essential financial concepts, according to the Program for International Student Assessment. As the National Money Matters Ambassador, Akinwunmi will advocate for early financial literacy in an effort to help teens across the country expand their knowledge of money management.
Since the program’s inception in 2004, more than 850,000 Boys & Girls Club teens have completed Money Matters in more than 1,700 Clubs. The program aims to help young people achieve financial independence and well-being. Through the program, Charles Schwab Foundation has presented more than $550,000 in college scholarship grants to Boys & Girls Club teens who excelled in the program and demonstrated newly acquired personal finance skills.
Akinwunmi, now a high school senior, first became interested in the Money Matters program in fourth grade and completed the course at her Club during her eighth grade year. Since then, she has shared her newfound financial knowledge with other youth at Boys & Girls Clubs of Collin County and throughout the Frisco, Texas community.
“The financial education program helped me prioritize my needs and wants so I can achieve my goal of earning a college degree with minimal student loan debt,” Akinwunmi said. “I now have confidence that I am in charge of my financial destiny, not my parents or corporations, and that achieving financial freedom at a young age is possible.”
With a current 4.0 GPA, Akinwunmi plans to major in finance at the University of Texas at San Antonio. Upon graduation, she hopes to start her own business with a focus on community service. Eventually, Akinwunmi plans to offer entrepreneurship classes to young people so they too can earn the financial freedom to follow their dreams.
“The National Ambassador program is so valuable because it celebrates the difference that financial education can make in someone’s life,” said Carrie Schwab-Pomerantz, president and board chair of Charles Schwab Foundation. ”It also celebrates the power of peer-to-peer influence, which is so crucial in helping young people learn the importance of lifelong engagement with their finances.”
In addition to Akinwunmi, 10 other Boys & Girls Club teens will receive $2,500 scholarships for their outstanding personal finance leadership skills.
“The Money Matters program teaches Boys & Girls Club teens like Arianna how to responsibly handle their finances and take steps towards a financially fit future,” said Jim Clark, president and CEO of Boys & Girls Clubs of America. “After participating in the program, our Club members have the knowledge and confidence they need to establish healthy financial habits. We’re so proud to recognize Arianna and are grateful to have an expert partner in Charles Schwab Foundation to help our young people achieve important financial milestones, from opening up their first bank account to applying for college scholarships.”
2018 $2,500 Scholarship Winners:
Follow Carrie Schwab-Pomerantz at https://twitter.com/CarrieSchwab and https://www.linkedin.com/in/carrieschwabpomerantz/.
About Boys & Girls Clubs of America
For more than 150 years, Boys & Girls Clubs of America (BGCA.org) has enabled young people most in need to achieve great futures as productive, caring, responsible citizens. Today, more than 4,300 Clubs serve nearly 4 million young people through Club membership and community outreach. Clubs are located in cities, towns, public housing and on Native lands throughout the country, and serve military families in BGCA-affiliated Youth Centers on U.S. military installations worldwide. They provide a safe place, caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Club programs promote academic success, good character and citizenship, and healthy lifestyles. In a Harris Survey of alumni, 54 percent said the Club saved their lives. National headquarters are located in Atlanta. Learn more at Facebook and Twitter.
About Charles Schwab Foundation
Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at www.aboutschwab.com/community. Charles Schwab Foundation is classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Charles Schwab Foundation and Boys & Girls Clubs of America are unaffiliated entities.
Boys & Girls Clubs of America