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Financial Empowerment

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Financial empowerment and education are necessary to move from economic stability to security to wealth-building. Most individuals have something to learn that could improve their financial health and their long-term wealth. 

 

Youth Financial Education 

In 2023, the California State Assembly adopted AB 2927, requiring all California high school students to pass a financial literacy course to graduate high school.  

For teachers: Check out the resources from Next Gen Personal Finance, the California Department of Education and the National Education Association. 

For youth: Check out the Young Adult Program from FIS Financial literacy and check the Redwood City Events calendar for upcoming programs on money matters.

 

For Parents 

The California Kids Investment and Development Savings Program (CalKIDS) was launched in 2022 by the State of California with a clear mission: make it easier for more children to save for their future education. 

Administered by the ScholarShare Investment Board, CalKIDS takes the initiative by automatically offering newborns and eligible low-income public school children in California an initial seed deposit, along with other potential financial incentives. This ensures that they can start their college and career savings journey right from the beginning. 

Financial Education for Adults 

Banks, credit unions and other financial institutions often offer financial education as part of their services for members, but so do non-profit organizations and community colleges. 

 

 

Understanding and Improving Credit 

For New Immigrants: If you are new to the United States and have never established a credit history, we recommend you read more at this link: Understanding the US Financial System 

Switchboard TA has collected many resources for immigrants and refugees on financial empowerment here: Resource Collection – Financial Empowerment for Refugees and Newcomers. 

Understanding Credit: Having good credit is not a ‘nice to have’ in the United States, it’s a must-have. Your credit score affects how much you pay in interest on credit cards and car loans, and can even affect your ability to rent an apartment. Sign up to receive your annual credit report for free at the website AnnualCreditReport.com. Don’t fall for paid services from credit bureaus unless you have had a problem with identity theft. If you need help understanding or improving your credit, there are many organizations which provide credit counseling and financial advising for low or no-cost, including BALANCE (English & Spanish) or one of the organizations above. 

 

Contact Us 

The IDEAL team and the Economic Development Department regularly partner with organizations to provide financial literacy and wealth-building courses through the Library and other organizations. Check out the calendar for more information, or contact Amanda Anthony, Economic Development Manager, at aanthony@redwoodcity.org or 650-780-7204 for help navigating your options.