REDWOOD CITY (CBS SF) — The Redwood City Library Foundation is receiving a $48,875 grant from State Farm to aid teenagers volunteering to teach financial literacy to their peers, the library foundation has announced.

The volunteer teenagers make up the Redwood City Youth Literacy Council, which has created a program titled “Money Smarts for Teens.” Through “Money Smarts for Teens,” 120 teenagers a month learn the basics of money management.

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“We’re very proud of our teens from the Youth Literacy Council who are working with area financial experts to design, coordinate and conduct the class,” said Redwood City Library Foundation executive director Georgi LaBerge in a statement.

LaBerge said the teenagers involved in the project are gaining valuable knowledge that will help them succeed at school and at work.

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“We congratulate the Redwood City Youth Literacy Council, City Library, and Library Foundation for all of their work together to further youth financial literacy in Redwood City,” said Redwood City mayor Jeff Gee in a statement.

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