Today, 21 Savage joined Get Schooled and Juma to expand his, “21 Savage Bank Account Campaign,” a campaign aimed at teaching teens money basics. The campaign launches shortly after 21 Savage’s release from ICE custody after being unjustifiably detained by ICE on the morning of February 3, 2019 (see https://www.nytimes.com/
“While my #1 song was called bank account, growing up, I knew almost nothing about bank accounts,” said 21 Savage, “As I have gotten smarter about financial management, I realize how empowering it is to control your money rather than be controlled by it. I want to help kids with a background similar to mine to get smart about their money.”
A 2016 study by PricewaterhouseCoopers and George Washington University found that young people lack understanding about financial literacy. Of those surveyed, only 8% answered five out of five questions correctly, and just 24% answered three correctly. The study concluded that their lack of financial literacy led them to risky financial behavior such as overdrawing accounts, taking on major debts, signing high interest loans, etc.
“It’s no surprise that 21 Savage is continuing his work in making financial literacy a priority with the youth of our community,” says U.S. Congressman Hank Johnson (GA), “I continue to applaud his efforts, and I look forward working with him as we create new positive opportunities for our young people.” While young people anywhere in the country can access the support via www.getschooled.com, the campaign will have a focus specifically in Atlanta. In an effort to create economic opportunity for young people in Atlanta, 21 Savage has partnered with Juma, a national nonprofit that employs youth from underserved communities and helps them build financial capability. 21 Savage will help recruit 150 youth who are disconnected from school and work, or at risk of disconnection. They will receive training and employment at Juma’s social enterprise working concessions at Suntrust Park and Mercedes Benz Stadium, as well as financial capability support.
“Getting a first paycheck brings a great opportunity for young people to begin learning about finances,” said Robert Lewis, Juma Atlanta Site Director. “We are excited to partner with 21 Savage and Get Schooled to engage with our young people who need this financial knowledge, skills and tools to position themselves for future success.” 21 Savage’s motivational message in the form of PSAs, posters and local appearances will be crucial in engaging these young people. In March, 21 Savagewill host a bank-opening event, and has committed $15,000, so each of the 150 youth that Juma employs in Atlanta can receive a $100 deposit into their bank account to motivate them as they begin their financial journey.
The campaign is designed to ensure all young people have the knowledge they need to make good financial decisions. Elements of the campaign will include:
- 21 Savage as Your Money Making Mentor: 21 Savage will offer monthly tips as young people’s “money making mentor” on why learning how managing your money is key to your future success.
- 21 Tips: Juma and Get Schooled have aggregated the most important “21 Tips” to achieve financial literacy. These will be introduced online and through social media.
- Digital curriculum: Working with Juma’s financial literacy experts, the campaign will release a monthly digital badge tied to 21 Savage Money Making Mentor tips. Monthly topics will include the basics of making money, budgeting, credit/credit cards, and investing. The content will be released through press and social media each month.
- Text Help: Young people with questions about money including how to finance their college education can text “money” to 33-55-77.
Young people who complete the badge found on www.getschooled.com will be eligible to cash in points for “21 Savage Bank Account” swag in the Get Schooled reward store including stickers, t-shirts and more.
In Spring 2018, 21 Savage and Get Schooled teamed up to launch the 21 Savage Bank Account Campaign aimed at encouraging young people to complete a digital badge designed to teach the basics of money management, open a bank account, and begin saving for college. 21 Savage also gave away 21, $1,000 grants to students. The campaign was applauded by students and educators alike.
A Clarkston High School student from Lithonia, Georgia said “Thank you for making financial literacy something that was fun and easy to understand.”
A math teacher from Wolters High School in Deer Park, TX said “I applaud 21 Savage and Get Schooled for putting together this badge. While there are some opportunities in [school] to get some of this information, there can never be enough forums for students to learn about financial accountability. Thank you again.”
To learn more about the 21 Savage Bank Account campaign and get involved go to http://www.getschooled.com.
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