When high school students prepare for the future, discussions usually center around choosing a college major, landing a first job, or picking a career path. But there is a crucial skill that underpins every single one of those milestones: financial literacy.
Knowing how to manage money, budget earned income, understand credit, and navigate banking systems are core life skills essential for long-term independence and financial security. 68% of teens would “likely” take a class on financial literacy if offered to them, yet only 31% say they have access to these kinds of courses in school, according to research by Junior Achievement and research firm Big Village.
At United Way of San Diego County (UWSD), we believe that establishing lasting financial security begins long before a person enters the full-time workforce. Here is why financial education is vital for today’s youth, and how our programs are putting tools directly into local students’ hands right now.
The Gap Between Earning and Managing Money
For many teens starting their first job, that first earned check brings a thrilling moment of independence. However, without foundational money management skills, that milestone can quickly turn into confusing decisions.
Navigating bank accounts, direct deposits, basic budgeting, and credit card usage requires practical knowledge, especially in today’s modern financial environment. The rapid rise of digital banking apps, peer-to-peer payment platforms, and online financial tools has made the modern financial landscape more complex than ever. While many of these digital resources offer convenient ways to track and send money, building core financial literacy is essential so that youth can evaluate these tools, avoid hidden fees or security traps, and choose the financial products that truly benefit them in the long run.
Without early financial education, young adults often learn through trial and error, frequently falling prey to high-fee check-cashing services, predatory loans, or high-interest debt. The consequences of learning the hard way can follow young adults for years. An Experian survey revealed that three in five adults feel their limited understanding of personal finance led them to make financial mistakes, with 60% of that group reporting those mistakes cost them $1,000 or more.
A Growing Financial Strain in San Diego County
This knowledge gap is hitting home across our region, where record-level credit card debt meets a high cost of living:
- National Debt Peak: A 2026 study by WalletHub, using Federal Reserve and TransUnion data, found that Americans owe a staggering $1.35 trillion in credit card debt, averaging over $11,000 per household. Balances are projected to climb another $100 billion this year.
- Local Impact: The same study ranked 182 U.S. cities by household credit card debt. San Diego County cities stood near the top: Chula Vista ranked #2 in the nation ($20,778 average household credit debt), Oceanside ranked #18 ($17,787), and San Diego ranked #35 ($16,429).
- The Cost-of-Living Factor: According to the Real Cost Measure report from United Ways of California, nearly half of San Diego County families with children under age six do not earn enough to cover basic living expenses (source).
While inflation and the rising cost of living force many families to rely on credit cards just to bridge the gap, a systemic lack of financial literacy compounds the issue. When teens enter adulthood without understanding how interest accrues, how credit scores work, or how to manage a credit card responsibly, they are far more vulnerable to falling into cycles of compounding debt.
California’s AB 2927 Class of 2030 Mandate and Why We’re Not Waiting
Recognizing the necessity of financial literacy skills, California passed landmark legislation (AB 2927) mandating that high school students complete a standalone personal finance course to graduate, starting with the graduating class of 2030.
While this statewide requirement is a major step forward, it also highlights an area where California has had to catch up. California became the 26th state in the nation to enact a high school personal finance requirement, meaning that while our state is often at the forefront of innovation, we were actually behind the curve on youth financial capability. To bridge this gap for current students, we have to move with urgency.
Like any essential life skill, understanding personal finance shouldn’t rest solely on the shoulders of our school systems. The greatest, most lasting impact happens when schools, families, and community organizations work together to reinforce these habits in everyday life.
While high schools prepare to roll out the new curriculum over the coming years, students entering the workforce today cannot afford to wait. That is why United Way of San Diego County and the Bank On San Diego Coalition aren’t waiting for 2030. Together with community partners, local credit unions, and educators, we are delivering active, hands-on financial education, digital tool navigation, and safe account access to teens across San Diego County right now.
Teaching financial literacy early equips teens to:
- Understand the basics of banking, including checking and savings accounts and fee structures.
- Learn how to build and maintain good credit, demystifying credit scores, understanding credit cards versus loans, and avoiding the trap of high-interest debt early on.
- Differentiate between earning, saving, and spending to create realistic, sustainable budgets.
- Avoid predatory debt and high-cost financial services like payday loans or check-cashing outlets.
- Build confidence when making decisions about higher education, workforce training, auto loans, and independent living.
That is why United Way of San Diego County and the Bank On San Diego Coalition aren’t waiting.
Together with community partners, we are delivering active, hands-on financial education and direct account access to teens in San Diego County right now through our Dream with STEAM program, our Bank On San Diego Coalition, and our SparkPoint financial coaching initiative.
Bringing Financial Literacy to Life: UWSD’s Programs Helping Local Teens
UWSD integrates financial literacy education directly into our Dream with STEAM summer career exploration program.
Local teens not only learn about career pathways for in-demand, high-paying careers in Science, Technology, Engineering, Art, and Math (STEAM); they also receive:
1. Hands-On Financial Literacy Coaching
Through Dream with STEAM, high school students from historically disinvested communities explore high-growth industries, from biotechnology and engineering to creative media and technology.
Alongside site visits, professional mentorship, and skill-building activities, participants engage in practical financial literacy workshops. They learn how to read a pay stub, set up a personal budget, understand how early savings compound over time, and grasp the fundamentals of building and protecting a healthy credit score. “We had banks come in every week during the summer program, and they gave lectures about how to keep your money safe, how to spend money wisely and create a budget, and about what a credit score is. I learned so much that I didn’t know about finances and feel more prepared to be smart with money as I take the next step into college”, shared Brianna, a Dream with STEAM summer program participant.
To bring these lessons to life, UWSD recently partnered with California Coast Credit Union to host an interactive session for local students from Lincoln High School and Escondido High School using the Bite of Reality simulation app. Each student was assigned a realistic adult persona, complete with an occupation, monthly salary, household size, student loans, credit card debt, and medical insurance obligations. Navigating real-world financial choices, students had to budget their personalized monthly income to “shop” for necessities like housing, transportation, groceries, clothing, and childcare, experiencing firsthand the real-world balancing act of household money management.
2. Assistance Setting Up Their First Credit Union Account
To make financial education actionable, students in the Dream with STEAM summer program earn an educational award for their participation. To ensure students have a safe bank account to deposit their earnings, UWSD partners with local financial institutions through the UWSD-led Bank On San Diego Coalition.
For many high school teens, summer is a crucial time to earn income to support themselves or their families. By offering an educational award, the program ensures students don’t have to choose between a summer paycheck and career exploration.
To help students maximize those earnings, financial institutions walk students through opening their first safe, low-cost or no-cost bank account, where their educational awards are directly deposited. This gives the students immediate, real-world experience managing their own money in a supportive environment.
3. EITC Free Tax Prep Assistance
As part of our efforts to create the foundation for financial stability, United Way of San Diego County leads the San Diego County Earned Income Tax Credit (EITC) Coalition, comprised of over 48 community partner organizations dedicated to assisting low- to moderate-income individuals and families in filing their taxes for free and maximizing the amount they receive in eligible tax credits. The Coalition also helps hard-working families claim state and federal Earned Income Tax Credits (EITC) that can help lessen financial strain.
During tax season, IRS-certified Volunteer Income Tax Assistants (VITAs) make a special visit to local high schools that participate in our STEAM-to-Careers program to provide free tax prep to any students and their families who need help filing their taxes accurately without paying costly tax-prep fees.
Building Long-Term Financial Security Across San Diego County
Financial literacy isn’t just about managing a single paycheck; it is a critical driver of regional economic equity. In a region like San Diego County, where the cost of living presents continuous challenges for local families, bridging the wealth gap requires early intervention.
When a young person learns how to manage money, access fair banking, and plan for future goals, the positive impact ripples outward to their families and entire neighborhoods.
By connecting education, career readiness, and financial capability, United Way of San Diego County is working to ensure every individual and family in our region has the tools and opportunities needed to achieve long-term financial security.
Get Involved & Support San Diego County Youth
Creating lasting change requires community action. You can help empower the next generation of San Diego County leaders with the tools, career mentorship, and financial skills they need to thrive.
- Learn More: Explore our programs that build the foundations for financial stability, including STEAM-to-Careers & Dream with STEAM; SparkPoint Financial Coaching; Bank On San Diego Coalition; San Diego County Earned Income Tax Credit (EITC) Coalition; and United for Literacy.
- Partner With Us: Discover how local businesses can mentor students or host site visits.
- Stay Informed: Sign up for our newsletter below to stay updated on our latest initiatives.
- Make a Donation: Support educational awards and community initiatives that remove financial barriers for local teens.