Program teaches students fiscal responsibility

PROVIDENCE, R.I. (WPRI) — Providence was one of four cities chosen to take part in a pilot program aiming to teach students good financial habits and get them ready to enter the workforce.

The Summer Youth Employment and Financial Capability Project includes 20 hours of classroom instruction and teaches students to set monetary goals. The program is facilitated through the Consumer Financial Protection Bureau (CFPB) and includes students between the ages of 14 and 21.

At a news conference Wednesday, Mayor Angel Taveras talked with those taking part in the program.

“As you go off to college, you might get your first credit card and you might have an opportunity to have your first checkbook. It’s important to be careful because you can very easily get into a lot of debt very quickly,” he explained.

Jobanny Cabrera is helping kids with their summer reading in his first summer working at the Boys and Girls Club in Fox Point – but he’s also learning a lesson or two of his own.

“I’ve learned a variety of things working here, real life skills that you don’t learn in school or on the streets at all,” he said.

Jabonny is one of 361 students at various employers throughout the capital city involved in the pilot program.

“We believe that if you develop good habits at 16, 17, 18, 19 years old, you will have this throughout the rest of your life,” said Desmond Brown of the CFPB.

Nationwide, there are about 2,000 students taking part in the program. The other cities that were chosen are Little Rock, Ark., St. Louis, Mo., and Evansville, Ind.

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