A 2018 study found that it takes 5 generations for an individual in the United States to move from low income to median income. This concept of social (also referred to as income or economic) mobility is an extremely important yet often neglected aspect when finances are generally discussed. To make matters worse, the lack of social mobility is compounded with other discriminatory factors for many underserved communities furthering the ability to progress.
We believe accessibility, equitability, and inclusivity are the names of the game. The starting line isn’t at the same place for everyone. Youth without financial education start even further back than others and it takes them running faster to try and keep up. Sometimes, starting so far back means they never catch up. Since financial education isn’t actively being taught in our school systems (or severely limited), we work with members in the community to fill in those gaps and provide those resources to all of our children. We want to provide educational opportunities at an early stage and encourage children with entrepreneurship opportunities and strong engaged advocacy from the communities standing behind them.
Lemonade Day allows our local youth to feel accomplished and excited to learn about money. The children set goals and are in charge of working to achieve them, with help along the way of course. They’re developing a healthy relationship with money and learning how it works as a concept. Lemonade Day continues to be a staple of the community for youth. In 2019, 83% of our participants look forward to participating the following year. Today the youth are selling lemonade. Tomorrow they’re starting businesses that support local communities, solve problems, and create new innovations.
Through our programming our children are jumping in and gaining a lot of benefits as a result. We are building up our communities and the people that live in them through financial education. Children are developing traits that will make them into the leaders and decision makers of tomorrow.