It’s a Life Lesson: The Role of Unconditional Cash in Financial Socialization of Youth

Abstract This study investigates how unconditional cash supports financial learning and well-being among young people, particularly those from low-income and racially minoritized communities. The research draws on the qualitative sub-strand of the larger, mixed-methods Youth Cash Transfer (YCT) study, which provided high school students ages 14 to 20 with 50 weekly in unconditional cash for 10 months. Interview findings show that the cash transfers prompted critical reflection on finances and waged labor, served as a mechanism for experiential learning with money, and bolstered their sense of self by providing them with ways to financially contribute to their families and participate in social events. The study highlights guaranteed income’s potential as an experiential learning method to enhance financial knowledge and social equity among underserved youth.