Financial literacy looks different at every stage of life—but for teenagers, who are just beginning to earn, spend, and save their own money, the learning curve can be especially steep. With limited exposure to real-world financial responsibilities, many high schoolers find themselves unprepared for what lies ahead. So, how can an organization like York Educational Federal Credit Union (YEFCU) step in to educate and empower them?
To answer that question, we spoke with someone at the beginning of her financial journey who already has a foot in the financial world—our Spring intern, and entrepreneur behind her own fragrance diffuser business, Alexia Purkanto. Through her business and her internship at YEFCU, Alexia is gaining valuable financial experience that many students her age haven’t yet encountered. Alexia brings a thoughtful perspective to how teens interact with money, what they’re lacking, and how institutions like YEFCU can help fill in the gaps.
The Financial Gap in Teen Education
It’s no surprise that many high school students lack a solid foundation in financial literacy. Between minimal school curriculum and limited personal experience, most teens navigate their finances through trial and error: “As we do not have to pay for bills and other living expenses, we are quick to spend money…” Alexia explains. This gap in understanding becomes especially dangerous as students approach milestones like buying their first car, managing their own paychecks, or making college financial decisions.
Without early guidance, missteps—like credit card debt or poor budgeting—can leave lasting damage. But for go-getters like our intern, this lack of experience shouldn’t hold young adults back from initiating their own financial education. “While I have had no formal financial literacy education in a classroom setting, I am accumulating financial literacy through my business, this internship, and other jobs.”
Meet Alexia – A Teen with a Financial Head Start
Alexia isn’t your average junior at York Suburban High School. Alongside her coursework, she runs a small business selling fragrance diffusers and holds an internship at YEFCU. It’s given her insight into both entrepreneurship and the financial infrastructure that supports a community: “My relationship with finances definitely changed after starting my business…I became cognizant of the difference between net and gross revenue (how much I am making on paper versus how much I pocket.) This made me aware of taxes and fees that I do not normally think about. It made me more aware of the cost of production and prices.”
Throughout her time with YEFCU, she’s also observed the larger impact financial institutions have on their community: “Beyond learning about the inner workings of the banking and credit union world, I have learned about the macroeconomic side of this industry where different policies and regulations impact the community where the financial institutions are vital to keep the community stable.” Alexia explained. “ If there is any one thing that stands out to me as an overarching message is that Credit Unions are here to help its members with a plethora of resources and tools to help its members.”
But how do institutions like YEFCU meet students where they’re at, to provide the resources they need for their current stage of financial awareness? According to Alexia, beginning the conversation is the best way to start.
Where Education Meets Opportunity
When asked about financial literacy as a high school student, Alexia had this to say: “Financial literacy is so important as students navigate new part-time jobs and develop spending/saving habits. Especially as students prepare to go to college, they also gain financial independence.” The trouble is getting students interested in this area of life without being blindsided by bad habits early on. Just why should teenagers care about their finances? “High schoolers should be the most interested in finances (at least the necessary parts) because it would be easier to build a foundation and learn now as opposed to making life changing decisions without any prior knowledge.” Alexia writes.
Learning about smart financial practices is a straightforward way to keep young adults on the right path. And the lessons she believes her age group needs most? Credit, budgeting, and saving: “The most important concepts of financial literacy are budgeting, saving, investing, credit management…Having the knowledge of things like how to pay credit card bills, and how to start getting a credit score.” These can be learned through student internships, school-based branches, or engaging community events like financial reality fairs—all things YEFCU provides. Students don’t have to wait until adulthood to understand money. Curiosity now leads to confidence later.
Curiosity Is The Catalyst
Alexia’s story reminds us that when given the tools and encouragement, students can rise to the challenge of making smart financial choices. While not every teen will launch their own business, every student can take ownership of their financial future. It starts with the right questions, the right guidance, and the right support system. At YEFCU, we aim to meet students where they are and walk with them as they grow—from their first savings account to their first paycheck and beyond. To build that initial curiosity into a financial foundation that lasts a lifetime. “Learn as much as you can now,” Alexia advises her peers. “Ask all the questions, because that knowledge will be vital just a few years down the road.”
