While math, science, history, and English are usually the subjects taught everywhere in American high schools, many have pointed out that there is a very missing category that young people really need to know. they are on their way to adulthood: financially.
Many children grow up learning about finances by watching their parents manage money, or in a vacuum where the subject is never discussed.
This is especially common in low-income households, where families are often too focused on making ends meet to consider how to prepare their children for their financial future.
However, one musician wants to use his fame as a platform to give these kids the financial skills they need to better navigate the world as adults.
Her grandmother helped start the Icy Baby Foundation
Grammy-nominated rapper Saweetie wants to help people better understand financial literacy at an early age, which is why she launched a new financial literacy course for kids between 7 and 17 years old.
Those who participate in the course will receive a financial debit card, as well as educational resources on everything from saving and budgeting to general financial planning.
“I want to continue to use my foundation and assets to financially empower children and students, especially in Black and Brown communities,” Saweetie said of the initiative.
“The long-term goal of the Icy Baby Foundation is to increase financial literacy among children and propel them towards a brighter future,” he added.
Saweetie founded the non-profit Icy Baby Foundation in 2021 with the help of her grandmother, Roxanne Glass. Its primary goal is to provide children with financial literacy resources to give them the basics needed to manage money.
“The reason I’m sensitive about it is because I need help myself,” she said in an interview with Glamor in May 2022. “Putting money in a savings account isn’t enough — especially if it is not enough to create wealth for generations for you, your family or your children.It is important to raise these young children so that this is important in their minds, so it is not something they try to do. to be considered as an adult.
Saweetie has also been a guest speaker at his alma mater, University of Southern California, on courses on Venture Feasibility and Venture Initiation.
The racial wealth gap is widening
The average black or Latino household earns half as much as the average White household and owns only 15 to 20 percent of the wealth, the Federal Reserve reports.
This is just one example of the racial divide, and a closer look reveals even more disturbing numbers. White households hold 86.8 percent of the nation’s overall wealth according to the 2019 Consumer Finance Survey — and the gap continues to grow.
Those involved in the conversation around the racial gap often note that black financial education lags behind whites — only 3.9% of low-income students are required to take special financial classes. to graduate from high school.
However, Saweetie’s popularity among Gen Z fans could help change that. With 12.9 million followers on Instagram, she already has a large audience that loves what she does – making her the perfect advocate for information that can greatly help young people of color.