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March 2017Vol. 18, No. 1An Introduction to Financial Capability for Youth

The National Collaborative on Workforce and Disability for Youth developed a brief for youth about to enter the workforce regarding the importance of managing money. The brief aims to help youth be financially capable through five actions:

  • Earning—Describes how to better understand a paycheck, including an explanation of various deductions, such as income tax and Social Security 
  • Saving and investing—Describes how to save using a bank account, how to choose a bank, and how much to save 
  • Protecting—Describes ways to protect money, such as purchasing insurance and health-care coverage; how to avoid scams and identity theft; and how to manage credit 
  • Spending—Describes ways to budget money, such as clipping coupons and comparing prices, especially for large purchases
  • Borrowing—Describes different types of loans and explains the annual percentage rate

The brief also includes links to additional information from trustworthy sources, such as "Decoding Your Paycheck" from the U.S. Mint and "Paying Off Credit Cards" from

Taking Charge of Your Money: An Introduction to Financial Capability is available at (857 KB).