According to the National Financial Educators Council, in 2016 the average score in Florida for the National Financial Literacy test taken by kids ages 15-18 was just 55-percent. The reality is that without basic skills to maintain healthy financial habits, these students will face a limited future.
Wealth managers see first-hand the impact that financial literacy has on empowering even the most disenfranchised. Singer Xenos’ Lonny Greenberg teaches personal finance courses to troubled teens in Broward County through a program with AMIKids.
What makes AMIKids so unique? As a non-profit dedicated to reaching at-risk youth, AMIKids is helping them break free from a troubled past. The sad reality is that so often, these kids, many of them past juvenile offenders, are thought to be beyond the ability to help or reform. But by providing them with an alternate path forward – and by giving them the tools to succeed – these kids are discovering their full potential for both themselves and their communities.
Lonny created the program and has already taught over 10 class sessions this past year, including everything from how to create a budget, manage credit, live independently and responsibly invest. Additionally, Lonny works with these students to explain smart shopping habits, disposable versus discretionary income, how to purchase a car, how to rent and more.
Now as President of the organization’s Fort Lauderdale chapter, Lonny is energized to expand the financial literacy program region-wide. After all, the best gift anyone can receive is that of financial independence. Now, he says, he just needs to instill those same principles in his two growing daughters (Ali, age 5; Brooke, age 2)!