We cannot possibly prepare our children for all of the challenges and obstacles that they will surely face in life. Changes in technology, demographic and cultural shifts, and economic crises require us to constantly adapt and modify how and what we teach our children. In an age of economic instability, young people must understand the value of money and personal money management. Unfortunately, this critical knowledge is sorely lacking among our youth.
“The reality is that all children don’t know the basics of savings and investing.”
Arne Duncan, U.S. Secretary of Education
“The number of 18-24 year olds who’ve declared bankruptcy has increased 96% in 10 years.”
Les Blumenthal, McClatchy Newspapers, March 15, 2010
"In light of the problems that have arisen in the sub-prime mortgage market, we are reminded how critically important it is for individuals to become financially literate at an early age so they are better prepared to make decisions and navigate an increasingly complex financial marketplace.”
Ben Bernanke, Chairman Federal Reserve Bank
“Young adults had much lower financial literacy than prior generations. Respondents with higher levels of financial literacy were more likely to plan for retirement, have emergency “rainy day” funds, and avoid high credit card fees and interest rates.”
Financial Industry Regulatory Authority Investor Education Foundation 2010 Survey
“70 percent of U.S. parents had taught their teens how to do laundry, only 34 percent had taught them how to balance a checkbook, and only 29 percent had taught them how credit card fees and interest work.”
2007 “Teens & Money Survey” Charles Schwab Investment
“The reality is that many parents are not willing or able to teach their own kids everything they need to know about finance.”
2008 National Report from the President’s Advisory Council on Financial Literacy.
How we think and interact with money significantly impacts on our lives. The sooner students understand money and how to use it, the better off they will be when making important future financial decisions like using credit cards, buying a home, starting a business, and saving for college or retirement.
Financial Strategists fills the current financial educational gap with Financial Intelligence Training (FIT), a unique, interactive financial literacy program, designed specifically for high school and college-age students. FIT can augment existing consumer and business education coursework or can be used on a stand-alone basis. FIT instructors bring a wealth of knowledge to the classroom. They are experienced teachers with extensive backgrounds in financial services, banking, investments, marketing and advertising. We teach students how to successfully engage with the financial services industry, mitigate personal financial risk and manage and in some cases avoid debt. Contact us via our website or give us a call to discuss how we can help your students experience success in life money management.