Today’s youth face multiple financial and societal challenges, from the effects of the pandemic on the economy to the increased need for resilience in the face of climate change. A recent study found that more than two-thirds of teens are either somewhat or very concerned about the financial impact of the pandemic on their family’s day-to-day lives. Almost a quarter (24%) of teenagers said their parents or caregivers had shared concerns with them about paying bills, and nearly 1 in 7 (13%) said a parent or guardian had lost their job due to COVID-19.
Young people are watching their families and their communities weather pressing financial health concerns, and many are navigating their own financial worries, such as wondering how they will pay for college. The mission of the Financial Health Network is to improve financial health for all, and we recognize the lasting impact the pandemic could have on the financial lives of young people across the U.S. We also acknowledge that painful moments like these can unlock incredible innovation that is not limited by age, which is why we are excited to serve as the financial health advisor for Prudential Emerging Visionaries. Emerging Visionaries is a national program that celebrates and awards young people who create solutions to financial and societal challenges in the U.S.
From Spirit of Community to Emerging Visionaries
Emerging Visionaries is the evolution of the Prudential Spirit of Community Awards, a long-standing program that has honored more than 150,000 young people since 1995. Emerging Visionaries builds upon a tradition of community service, with new attention to financial and societal challenges.
Empowering Young People To Solve Financial Challenges
Prudential Emerging Visionaries supports young people across the U.S. who are creating change in their communities within two categories: solutions to financial barriers and solutions to social issues. The focus on financial barriers is new to the program, driven by Prudential’s belief that financial security should be within reach for everyone.
The Financial Health Network is working to shed light on the financial health challenges that Americans face, and to elevate solutions addressing those challenges. Our research into the financial health barriers that different populations – such as frontline workers and justice-involved individuals – face is an example of this commitment. We look forward to the financial health solutions that the Emerging Visionaries applicants and awardees will create in communities across America.
Lifting Up What Works
Improving financial health for all cannot be achieved by only a handful of people or organizations; it is a movement and a philosophy that needs champions across industries, communities, and ages. By supporting young people who are making a real difference in their communities, we hope to lift up what works in finhealth and inspire even more work to help the Financially Vulnerable.