Basketball hoop in low income ghetto neighborhood financial illiteracy

Lebron James and 21 Savage Spread the Word on Financial Illiteracy

Being financially illiterate has global implications. The gap between rich and impoverished is widening yet young adults around the world are still in the dark on money matters.

In North America alone poverty is rising, racial tensions are increasing, and the top 1% of the wealthy are getting significantly wealthier.

Knowledge of money and personal finance is severely lacking in many parts of the world including North America. Even with access to higher education, significant loan amounts, and increasing business opportunities, our young population is still not understanding the basics of money management to propel them forward.

Lack of financial literacy is known to have repercussions on a family’s socio-economic status. With times getting harder and societal tensions rising, poverty cycles keep turning.

Having a population that is able to control their money can lead to a direct reduction in poverty, stress on families, sleep deprivation, mental health issues, and work fatigue. The time to get educated on money matters is now.

Rapper 21 Savage Raising Awareness for Financial Literacy

Silver microphone

Having been affected by the lack of knowledge on money management as a teenager, rapper 21 Savage didn’t learn the information necessary to deal with finances until he’d already had the resources to do so.

The rap artist discussed how systemic issues are in place that have major effects on the minority groups in America causing him to launch the “Bank Account” financial literacy campaign in 2018, and more recently financial literacy courses with scholarships in an attempt to break the cycle.

Acknowledgment from an artist with such influence over the teenage population is a great step in a positive direction for financial literacy education.

Basketball Superstar Lebron James Opens Center for Youth

basketball shoes with basketball in financial literacy center

In 2013 LeBron James donated $280,000 worth of Samsung tablets to a school in Akron Ohio, his hometown. With his continued goal of educating the youth, LeBron announced he is opening a 60,000 square foot venue called House Three Thirty to offer services including financial literacy to the youth. Lebron has taken it upon himself to educate teenagers in his own neighborhood.

The push for a financially literate youth is real and the earlier young adults take it upon themselves to learn money matters, the more time there is to set up a bright future. Financial illiteracy will continue to hold families back and education is a step in the right direction.

By: Robert Puharich | February 20, 2021 |