Financial Literacy—A Method for Creating Change

Our financial literacy program has been receiving recognition from local media outlets including the  San Francisco Chronicle and KCRA 3 News. This week, our blog features Matteo Voth, one of our financial literacy fellows who teaches youth about financial literacy in after school and summer programs. He gives an insight into his background and what led him to participate in the financial literacy program. Voth shares why it is so for students to be taught this subject at a young age. 

From an early age, I was taught that discussing money was rude and even taboo. This private approach to finances meant that as a child, I could never learn about the subject, no matter how curious I was. Now, as a young adult approaching financial independence, I’m finding myself having to learn the basics alone. I only wish a financial literacy program had been available to me in middle school — it would have saved me both time and effort.

When I learned about the Silk Financial Literacy Initiative, I knew I had to get involved. I believe that financial knowledge is a crucial tool for helping people achieve their goals and in some cases, simply survive. Unfortunately, many people lack access to this education and often it is because of their economic status. I’m reminded of the horrible statistic that shows how a person’s zip code can be a major predictor of their future income. These statistics motivate me as I enter the classroom to teach financial literacy. As someone who comes from a less-than-affluent area, it is a privilege to be part of a program that helps provide children with the opportunity to improve their own financial futures. 

This past summer, I had the pleasure of working with a class of nearly twenty students from the San Francisco Tenderloin neighborhood. Over a two-month program, the students in small teams, developed their own business ideas and then tested them in a “Shark Tank” style competition at the end of July, competing for various prizes.

The students learned every step of the startup journey, from technical cost analysis to pitching to investors. They gained a hands-on understanding of how businesses are founded, from the initial concept to the practical steps of marketing and budgeting. This experience was deeply rewarding and inspiring for me to both witness and participate in, especially when my own business venture was born in a similar program I attended at my university.

I was taught that discussing money was rude and even taboo.

In my eyes, this program is more than just a temporary solution to the inequality some of these kids will face; it’s a long-term method for creating change. By teaching these students how the financial world works and how they can use it to benefit themselves and their families, we help them overcome the uncertainty associated with money at that age.

That’s why I continue to be a part of this program and dedicate as much effort as I can to teaching. The mission of financial literacy for all resonates with me on a personal level, and I’m happy to contribute my time to it. My hope is that as I continue to teach, I can help the program grow and have an even greater impact where it’s needed most.