Financial literacy is integral to workforce readiness, and internship programs are not only an opportunity for students to gain hands-on work experience, but to also learn the importance of budgeting, saving and building credit.
The Boys & Girls Clubs of Central New Mexico’s paid internship program empowers teenagers to gain professional experience and learn essential workforce skills such as building resumes, excelling during interviews and managing their money wisely.
“Workforce development is crucial for young people,” said Brian Brown, Boys & Girls Clubs of Central New Mexico. “Learning how to manage money is another way our interns can benefit from the program and build economic stability.”
When the students from Highland High School received their first paychecks as part of their paid internship program, Bank of America was there to provide them with financial tips and resources to manage their money and make confident financial decisions responsibly.
This is part of the bank’s ongoing efforts to partner with area nonprofits to share its Better Money Habits education platform, a free financial education resource aimed at helping individuals, families and young people gain financial know-how and resiliency. For the students, the curriculum — presented in both English and Spanish — included information about saving, budgeting and building credit, all of which are necessary to reach their short- and long-term financial goals.
“While our Better Money Habits program is available to everyone, we are particularly excited to share these tools with students and help them build personal finance skills at an early age,” said Nikki Mitchell, New Mexico Market Executive, Bank of America. “With the work the Boys & Girls Clubs is doing and the financial education we are able to provide, we can make a real, tangible impact in young people’s lives and advance economic opportunity and mobility in our community.”
Bank of America created its online Better Money Habits platform to promote financial literacy across age ranges and financial goals. It includes hundreds of engaging videos, articles and resources on topics like managing bills, paying off debt, caring for a sick or elderly loved one, losing a spouse and planning for emergency expenses. In total, more than 6,000 bank employees, also called Better Money Habits Champions, deliver in-person guidance and advice in communities across the country to help them achieve their individual goals.
By partnering with stakeholders in the community and providing these valuable financial resources, Bank of America is working to ensure our students are on the path to success.
