A Brief History of OTM / By: Vivian Kaleta

On The Money magazine, rooted in the heart of Chicago, began as a visionary project by the Economic Awareness Council to address a gap in financial literacy education among teenagers. As of 2022, “approximately 11% of adult residents citywide lack a checking or savings account”  with neighborhoods like East Garfield Park having 48% of their residents lacking financial literacy ( Chicago Health Atlas, 2022 ).  Recognizing the urgent need for financial education that resonates with young people, the magazine was conceived as a hands-on learning tool where high school students could engage actively with financial concepts by writing articles, conducting interviews, and participating in the editorial process. The initiative quickly gained traction, providing a platform for students to explore complex topics, such as budgeting, saving, credit management, and investment in ways that were relevant to their experiences and aspirations. According to statistics reported by the Economic Awareness Council,   On the Money Chicago has “increased its circulation from 1,000 in 2007 to 9,000 youth throughout the state of Illinois in 2024” ( Economic Awareness Council, 2024 ).  The project not only aimed to educate but also to inspire young individuals to take charge of their financial destinies, promoting a sense of responsibility and empowerment from an early age.  As On the Money evolved, it expanded its reach and impact within the Chicago community, drawing in a diverse group of young contributors from various backgrounds. Through workshops, mentorship programs, and collaboration with local schools and educational bodies, the magazine has played a pivotal role in bringing youth together to foster a culture of financial awareness within their community. As an OTM alumnus put it, their experience in the program was a “ great place to network and gain valuable life skills from exceptional leadership. (I) met many lifelong friends and was able to expand my understanding of finance and its relation to underserved communities and those not underserved.” On a similar note, OTM volunteer Elizabeth Stack stated, “I leave every meeting impressed with the interns writing skills, understanding of important financial concepts and dedication to the magazine's publication. I enjoy working with the students throughout the entire lifecycle of the article, from idea generation to completion. I’m always inspired by the work the students are doing and have learned a lot from them reading their articles. ” Interviews OTM 2023 Alumni Survey Ms. Elizabeth Stack - OTM Volunteer  Stats https://chicagohealthatlas.org/neighborhood/1714000-26?place=west-garfield-park https://www.econcouncil.org/on-the-money