Financial Literacy and Our Youth

Young-Girl-Student-WritingAccording to the Jump$tart Coalition for Personal Financial Literacy, statistics as well as national surveys have shown that high school students need to be more prepared to handle college tuition costs, households need to save more for retirement and financial literacy is crucial in today’s economy. We couldn’t agree more.

On April 21, we organized a series of financial literacy classes geared towards engaging and educating middle and high school students, during Financial Literacy Month. The day began with two financial advisors from Vantage Financial Group, Inc. starting a dialogue with a group of 60 high school students at Warrensville Heights High School in Ohio. They asked the students about wants versus needs, talked about the importance of saving and budgeting and explained the concept of compound interest.

At the same time at nearby Warrensville Heights Middle School, two more Vantage advisors were educating a group of 20 middle school students on these financial literacy concepts. The middle school students were intrigued and appreciative when each received a gold Presidential dollar coin. The students were even more interested when the advisor illustrated the concept of compound interest by committing to double the dollar coin if the students let the school counselor hold the coins until he returned next visit – a true expression of saving for future gain.

The high school counselor wanted to expose more students to this type of financial literacy presentation and one of the advisors even agreed to stay an additional hour and was able to teach nearly 30 more high school students that morning. It was a privilege to coordinate this effort and see such immediate results in the engagement of the students – and the teachers, counselors and school administration were all wonderful to work with.

One highlight of the experience planned for the students in addition to the financial literacy curriculum was an appearance by Rep. Marcia Fudge (D-OH), whose district includes the Warrensville Heights schools. Rep. Fudge, who also serves as the Chair of the Congressional Black Caucus, showed up early to the events, spoke of the importance of saving for the future and encouraged the young students to listen to our knowledgeable advisors.

All in all, it was a wonderful day, and great to connect once again with Rep. Fudge and see such a positive interaction between the students and the advisors who took the time out of their schedules to help educate them now and for the future.

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