Financial education can mean the difference between a dream achieved or a dream deferred. Find out why we believe it has the power to restore the economic health of America.
Only 14 states mandate personal finance courses, 22 require economics, and just 5 test students on basic financial life skills. More than half of young adults admit to knowing very little about how to manage their finances.
Youth will inevitably face the financial realities of adulthood. Why aren’t we preparing them for the future?
Recent statistics are very depressing for those who subscribe to the notion that America is a meritocracy and a land of opportunity.
The opportunity gap is greater than ever, but it doesn’t have to stay this way.
Find Out Why
More than half of U.S. adults don’t have a budget. One-third don’t pay their bills on time. Another third carry credit card debt over from one month to the next.
It’s no wonder the economy just crashed. Too many of us, from Wall Street all the way to Main Street, lack a basic understanding of finance and money management.
“…nearly half of households — 132.1 million people — do not have a basic personal safety net to prepare for emergencies or future needs.”
Managing money is essential to achieving personal and professional goals. If this is the case, then why aren’t we teaching financial education in schools?
Our previous COO, Joe Duran, laid the case for financial education in an Op-Ed for the Huffington Post. Click the link below for more details.
Read the Article
Even students who have been exposed to financial education classes aren not much better off.
The financial services industry spends $17 billion a year on marketing. That’s $54 per person. In comparison, our nation only spends $670 million a year – $2 per person – on financial education.
Clearly, this isn’t enough.
A nation is more than just the sum of its parts. It’s not just individual Americans who feel the effects of being ill-prepared for the financial realities of adulthood – we all do. As more and more students enter the workforce unprepared, our economy weakens, losing its strength, output, and productive potential.
A better educated populace means better-prepared individuals, a robust economy, and more stability. By spreading financial smarts, our country as a whole will prosper.
We pair students with well-trained, motivated college mentors. In partnership with teachers, businesses, and the surrounding community, these volunteers implement our unique educational system to spread financial capability to their students.
We believe in peer mentorship, support systems, and community involvement. Learn more about our program by clicking the link below.
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