SALT LAKE CITY – More than 40 youth from across Utah honed their knowledge of financial concepts Saturday and prepared to teach other youth in a peer-to-peer financial education program.
Fidelity Investments and Utah State University Extension 4-H teamed up to create the Money Mentors program, which is the state’s first peer-to-peer financial education program.
During Saturday’s event, teen leaders learned concepts from Fidelity employees, like how to budget and save money. This summer, those teens will use their knowledge to train their peers and younger youth through various activities.
The program follows a “Teens Reaching Youth” or TRY model that has been used in other places. Event organizers stated in a press release that they began the program because financial literacy is at an all-time low among students and because reports indicate only one in four young adults understand basic financial concepts like interest rates.