Rams linebacker Kenny Young is helping youth understand their personal finances. His foundation, the Tackle Young foundation, has partnered with UNIFY Financial Credit Union (UNIFY) to create a 12-week financial literacy program called “Tackle Finances.”
The program is for students from Los Angeles Room & Board (LARNB), specifically for students who struggle with housing insecurities at “The Opportunity House.” LARNB helps community college students by providing affordable housing and resources for them to earn their associate’s, bachelor’s degree or certificate.
“The kids will be learning really about the structure of finances, from psychology to saving to credit score, to applying for a loan for the future,” Young said. “I know my biggest thing was how comfortable they were gonna be with the material.”
Students also learn about student loans and creating leverage. Young spent time with the youth during their first week of the Tackle Finances program. During the first meeting, they held a Q&A session for the students. What Young liked about the Q&A session was how it focused on spending psychology and “what really goes into the freeing of stress with money.”
“Planning for marriages and planning for parties and spontaneous trips with your friends, all those things you can afford,” he said. “It’s all about living the life and the structure to where you have the leverage to map out that being a part of your blueprint going forward.”
Being in the COVID-19 quarantine helped Young create the event; the woes of 2020 also brought on financial hardships to many. Young noted that this is a “pivotal” time to learn about money management. With the knowledge they will gain from “Tackle Finances,” the participants will be able to plan out what they will save money on.
“With L.A. Room and Board, it’s cool because you’re not talking to adults who are in the real world,” he said. “You’re talking to kids who are getting a degree that are in a position to learn about finances, juniors and seniors of college who are about to go into the real world.”
Being financially literate is a quintessential skill, according to Young. He noted that knowing your personal finances is like knowing your loved ones.
“You have to learn your relationship with money,” Young said. “Just like a marriage, just like a relationship with somebody or any adult … don’t be in a relationship where you don’t know the other side of the person.”
In Los Angeles County, one out of five community college students experience homelessness. The Tackle Young Foundation aspires to close the financial literacy gap. The students who participate in “Tackle Finances” will also be given bank accounts.
“It’s an exciting opportunity to be working together with people that are so passionate in helping and giving back to the community,” said UNIFY vice president of marketing innovation, partnerships, and member Natasha Ranchigoda.
Along with financial literacy, the Tackle Young Foundation focuses on providing resources to youth that center around emotional intelligence and character development. For more information, visit www.tackleyoung.foundation.