PHOENIX (AZFamily)<\/b> \u2014 Americans are carrying more than $1 trillion in credit card debt, and almost 30% of people trading in used cars have negative equity in their vehicles.<\/p>\n
It all speaks to challenges with financial literacy, but at a Phoenix high school, students are getting a hands-on education in money before they reach the real world.<\/p>\n
Eva Falcon is a senior at Metro Tech High School<\/a> in Phoenix. She has big plans for college and an internship already under her belt. She\u2019s one of six students interning at the Copper State Credit Union<\/a> branch inside the halls of the high school.<\/p>\n \u201cIf someone has questions about wanting to save up for their senior prom dress, they come up to us and we give them those financial options and we can open an account for them,\u201d Falcon said.<\/p>\n Brittany Nuno is also an intern at the credit union. \u201cMoney is a tough topic, but with finance class and learning how to manage money through class and the internship, I feel like it\u2019s become easier,\u201d she told On Your Side.<\/p>\n \u201cWe are doing real banking,\u201d said Christina Lamar, the vice president of member services at Copper State Credit Union. \u201cWe\u2019re very passionate about financial education in our school systems, so starting them out here really gives them the foundation. A lot of our students have bought cars and just did it responsibly and are educated and comfortable with the process.\u201d<\/p>\n \u201cI would love to have this, honestly, in all high schools,\u201d Lamar added. \u201cI think it\u2019s very useful. I think the kids love it and it\u2019s really setting them up for the future.\u201d<\/p>\n Financial literacy is a challenge, hovering around 50% among U.S. adults, according to the World Economic Forum. That means people struggle to answer questions about borrowing, saving, and financial risk.<\/p>\n \u201cFinancial literacy is super important,\u201d said Jeff Howard, who teaches a finance course at Metro Tech. He says several lessons transcend the classroom.<\/p>\n \u201cA rainy day is always going to happen, so saving for that,\u201d he said. \u201cLooking toward the future and having some long term goals, and then the biggest part is don\u2019t get into debt. Credit is a huge problem.\u201d<\/p>\n Falcon says she\u2019s confident in her money plan because of the lessons she\u2019s already learning. \u201cEveryone loves to say, \u2018Oh, I want to be rich. I want to own a yacht, cool things like that,\u201d she laughed. \u201cBut I think before all those things, it\u2019s about just building that base. Once I build that base, I can keep on living that dream.\u201d<\/p>\n Copper State Credit Union\u2019s teen accounts are free.<\/p>\n See a spelling or grammatical error in our story? Please click here to report it<\/a>.<\/p>\n