Monday, April 19, 2021

The Financial Literacy Pilot is “Taking Off!"

By Dean Graziano® is pleased to partner with Nourishing Hands to implement a Financial Literacy pilot program in Georgia. We are excited to share resources and look forward to developing an unprecedented curriculum and syllabus. Unlike any other program, our includes online, video-based teaching materials and involves parent/guardians and community resources! A variety of instructional methods to cover Georgia standards/competencies for financial literacy will be met. Utilizing Georgia’s Career, Technical, and Agricultural Education Standards (CATE) already developed for financial literacy, students will gain a greater understanding and skills necessary in managing their finances to achieve a greater quality of life. Once the pilot is complete, many other states may apply similar standards/competencies.

Over the next several months, we will examine how money-savvy and financially literate the students (and their parents) are. The course will examine individual responsibility – what, why, and how planning and managing your money makes sense cents! Focus will include various sources of income, planning and budgeting, banking/checking and savings accounts, consumer credit and its importance, consumer laws, impact of personal bankruptcy, insurance, spending, taxes, investment strategies, mutual funds and the stock market, college FASFA, purchasing a vehicle, and being SELF-RELIANT!

I cannot emphasize enough how critical the need and timing of piloting a financial literacy course is to our youth. With only 20 of 50 states requiring an economics course, that simply is not enough, nor does it focus on hitting the proper target. According to Investopedia, financial literacy is “the ability to use knowledge and skills to make effective and informed money management decisions.” Starting early and providing the tools to hone the skills necessary to be career-ready is paramount and impacts future generations.

From our partners at Nourishing Hands: “This is such a timely partnership as there isn’t enough emphasis on the urgency for an in-depth, applicable, and relevant resource on finances for our youth today. With a limited number of states requiring that students complete a financial literacy course as a graduation requirement, individuals enter adulthood and the workforce unequipped to manage their finances responsibly. We feel obligated to change that trend by providing content that supports teens’ understanding of money and wealth building. We believe that financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

Our hope is that this tool will provide the skills necessary to empower our participants in becoming financially successful adults and make an impact on future generations. We are grateful for your support and collaboration on this project to work with our youth towards developing Financial Literate competence that is assessable for all. It is my hope that this effort will yield success for so many, especially teens from low-income communities.”

The first class really “jumped into” the concept—all 30 students began the journey taking the pre-assessment and providing answers/queries throughout. Stay tuned for a more in-depth conversation about the class and its impact on students as well as parents/guardians.

The uniqueness of our financial literacy program lies in the tools and resources offered, addressing both students’ AND parents'/guardians’ financial literacy knowledge, and reaching the goal of ending generational poverty.