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Increasing financial capability among economically vulnerable youth: MY Path


  • Vernon Lake
  • Margaret Libby
  • Laura Choi


The Make Your Path (MY Path) initiative provides disadvantaged youth with peer-led financial capability trainings, a savings account at a mainstream financial institution and incentives to set and meet savings goals. The program focuses on youth earning their first paycheck—a critical “teachable moment” to promote savings and connect youth with mainstream financial products. In 2011-12, Mission SF Community Financial Center (Mission SF) tested MY Path by delivering its suite of services to ten agencies participating in San Francisco’s largest youth employment program, the Mayor’s Youth Employment and Education Program (MYEEP). Participants saved an average of $507 over a six-month period and youth demonstrated increases in financial knowledge, reports of positive financial behaviors, and confidence about making financial decisions and doing business with a mainstream financial institution.

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  • Vernon Lake & Margaret Libby & Laura Choi, 2013. "Increasing financial capability among economically vulnerable youth: MY Path," Community Development Investment Center Working Paper 2013-03, Federal Reserve Bank of San Francisco.
  • Handle: RePEc:fip:fedfcw:2013-03

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    References listed on IDEAS

    1. Westlund, Hans & Bolton, Roger, 2003. "Local Social Capital and Entrepreneurship," Small Business Economics, Springer, vol. 21(2), pages 77-113, September.
    2. Erik Hurst & Benjamin Wild Pugsley, 2011. "What Do Small Businesses Do?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(2 (Fall)), pages 73-142.
    3. Aysegül Sahin & Sagiri Kitao & Anna Cororaton & Sergiu Laiu, 2011. "Why small businesses were hit harder by the recent recession," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 17(July).
    4. Michael E. Porter, 1997. "New Strategies for Inner-City Economic Development," Economic Development Quarterly, , vol. 11(1), pages 11-27, February.
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    Financial literacy - United States ; Youth - Employment;

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