YFE Taught Me You’re Never Too Young
to Save

By Marcelle Dublin

Youth Financial Empowerment is a financial literacy program for teens in foster care in New York City. To learn more about the program, read our Represent story about it here.

Recently, YFE participants were asked to write an essay about their experience in the program for a competition. This is the winning essay, by Marcelle Dublin. Marcelle is 20 years old and has been in the YFE Program since October of 2010.

Financial empowerment is essential to life. Without proper money management it is hard to survive. Plenty of people have trouble managing money; many end up having bad credit or in debt. A person with bad credit will have difficulty purchasing a home and car, as well as other things. The Youth Financial Empowerment (YFE) workshops focus on how to avoid those problems and save money.

Youth Financial Empowerment taught me many things. Prior to taking the workshop, I never saved. My father would always tell me how important saving was; however, I felt I was too young. I was under the impression that at my age I should be enjoying life, freely spending, and only beginning to save when I got older. The YFE workshop taught me how to organize my spending and bills. I have a new outlook on saving; I know that saving now will be very beneficial in the future.

YFE also helped me get on the fast track to saving by offering a match to the amount I save. Knowing that I would have YFE’s assistance with saving I wanted to start ASAP. It was a source of motivation. After I started my saving and got some of my matching money, I decided to use the funds to open a business. 

Youth Financial Empowerment offered a business workshop, which was extremely beneficial. The class taught me how to create a small business plan, about the different type of corporations and the basics about starting a business. I learned how to describe my business idea in a 30-second pitch. I got to practice speaking in front of a small crowd, which had been nerve-wracking to me in the past.

I also got to meet other individuals and listen to their outlook on my business ideas and vice-versa. Ash Cash, our teacher, asked the group questions that had the students look into themselves and their characteristics. Those questions allowed me to see what would make me a good entrepreneur and what characteristics could be an obstacle in my entrepreneur path.

Before being referred to Youth Financial Empowerment I was content with where I was financially, for my age. After being a part of YFE and taking their business class, I now know that where I was a few months ago was unacceptable. I now have two active saving accounts, including my account with YFE. I focus more on money managing and where my money is going than on spending. I am also working on building my credit so in the future I will not have a problem purchasing a house or car. YFE provided me with a great experience. If I hadn’t taken the YFE workshop, I would lack some financial and business knowledge that is essential for my future.

  back to top