Financial Education Workshop for Underserved You
In June, 9 bankers from Western Alliance Bank and Torrey Pines Bank conducted a financial educational workshop for 40 Youth Squad leaders from the GRYD Foundation. The Youth Squad is made up of more than 350 youth and young adults from 32 LA neighborhoods that have been heavily impacted by gang violence, poverty and unemployment. The Youth Squad are employed by the GRYD program Summer Night Lights (SNL), and are mentored and managed by Youth Squad Leaders.
During the workshop, attendees learned key personal financial topics such as budgeting, cash flow, time value of money, credit, debt management, savings and investments. Part of the workshop was to work in a small group to do case studies:
- Team Risk Manager focused on insurance, learning about the different types of insurance and coverage, and who and where to buy insurance.
- Team Asset Manager learned how to put a personal financial statement together and how to interpret it and improve it over time.
- Team Financial Planner learned how to put a monthly budget together.
- Team Loan Officer learned about the different components of a mortgage and other financial considerations of being a home owner.
Following the workshop they are empowered to share what they have learned with the youth that they mentor as well as applying it to their own lives. Attendees commented that the workshop was extremely helpful and they feel more prepared to take control of their personal finance.
The workshop content was put together by Natalie Do, Vice President, Relationship Manager at the Beverly Hills office. Natalie serves as committee chair of the annual Los Angeles Financial Planning Day and also Chair of the advisory board for the GRYD Foundation.
About the GRYD Foundation
The GRYD Foundation believes that no one should have to bury a loved one due to gang violence, and that no one should be left behind or limited based on zip code. Their mission is to create a stronger, safer, healthier Los Angeles that we can all enjoy and be proud to call home. Through an innovative partnership with the City of Los Angeles Mayor's Office of Gang Reduction and Youth Development (GRYD) and the collective program model Summer Night Lights Youth Squad 360, they are working to stabilize and strengthen 32 Los Angeles communities and to help youth and young adults succeed at home, at school and in the workplace.