NEW NATIONAL ADVISORY COUNCIL TO ENGAGE YOUNG PEOPLE IN COMMITTING TO SAVE WITH THEIR FIRST JOB
America Saves Effort is to Ignite A National Conversation Among Young Americans Around Financial Literacy and the Critical Importance of Early Savings Habits
NEW NATIONAL ADVISORY COUNCIL TO ENGAGE YOUNG PEOPLE IN COMMITTING TO SAVE WITH THEIR FIRST JOB
America Saves Effort is to Ignite A National Conversation Among Young Americans Around Financial Literacy and the Critical Importance of Early Savings Habits
Washington, D.C. — America Saves, in partnership with the MetLife Foundation, announced the inaugural National Youth Advisory Council (NYAC) during America Saves Week, an annual campaign that encourages everyday Americans to do a financial wellness check-in.
America Saves received over 300 applications for its first cycle of the Council, with applicants from twenty-three states and ranging in age from fifteen to twenty-three. Over the next year the NYAC will create youth-centric messaging to be distributed nationally; build their own financial knowledge and acumen; act as savings ambassadors in their local communities; and keep abreast of current obstacles to youth financial capability in a time of rapid change and great uncertainty. The Councilmembers will inform and create content for America Saves for Young Workers, an initiative that focuses on youth employment behavior intervention.
“The Councilmembers are a fantastic group of motivated young adults who are truly committed to the financial wellness of their peer groups, both locally and nationally,” said Amelia O’Rourke-Owens, Associate Director of America Saves.
“I was never taught much financial literacy nor was the importance of it ever brought to my attention. It wasn't until college that I was exposed to some of the different avenues one can take to reach financial stability,” shared Emmandra Wright, a Councilmember. “Understanding the path to financial literacy is something that should be channeled through our communities, and I cannot wait to aid in this distribution of life changing information,” Wright continued.
“Giving young people the opportunity to share their financial knowledge in their own words is a groundbreaking way to strengthen financial capability,” said Evelyn Stark, Financial Health Strategy Lead, MetLife Foundation. “MetLife Foundation is proud to support America Saves’ efforts to help young people get on the right pathway for a lifetime of financial health.”
Through this Council, America Saves hopes to change the landscape of youth financial capability and fill some of the gaps in financial messaging with shrinking youth employment opportunities.
“Most youth financial interventions are created by adults with an adult lens on finances. Young adults in high school and college have very different financial realities and needs,” said O’Rourke-Owens. “In 2020 we saw significant reductions in opportunities for youth employment and pay. With this program we are providing solutions to both of these issues simultaneously.”
The incredibly diverse National Youth Advisory Council members will receive a monthly stipend and new laptops to ensure there are no barriers to their contributions to the Council.
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low-to-moderate income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org.
MetLife Foundation is committed to expanding opportunities for low- and moderate-income people around the world. It partners with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. MetLife Foundation’s financial health work has reached more than 13.4 million low- and moderate-income individuals in 42 countries. To learn more, visit metlife.org.