Financial literacy is such an important part of adult life. Sadly, for numerous reasons, not everybody is aware of how to properly handle their finances, especially the younger generation.
Unfortunately, only 24% of millennials currently demonstrate basic financial literacy, according to a study from the National Endowment for Financial Education. Additionally, only 7% of high-school students are currently considered financially literate. That’s where new financial literacy programs come into play.
According to Market Watch, as part of Dow Jones Media Group’s financial literacy strategy, Barron’s in Education is a new program that makes it possible for both students and faculty members to participle in a digital financial literacy course via a subscription.
The new course will provide weekly reviews that highlight top events and news stories that students can research and educators can address inside the classroom. Additionally, an email newsletter summarizing the top business, investment, and financial stories of the week will be delivered to subscribers.
Financial literacy systems aren’t just for educators and current students, however, but for people of all ages. Another new program is offering multilevel financial literacy curriculum to both children and adults who might need a refresher.
According to Forbes, a couple has developed this new multilevel curriculum to help people of all ages improve their financial knowledge. Pamela Capalad, a Certified Financial Planner and husband Dyalekt created Pockets Change, a financial literacy program that uses Hip Hop as a vehicle to educate individuals about the important fundamentals of finance.
“We developed this financial literacy curriculum while I was doing private wealth management work in New York City,” said Pamela. “When I would introduce the curriculum to teachers, the kids in their class would ask a wide range financial questions, which made me also realize that we had to break each element down before being able to properly integrate the program into the schools. With this in mind, my partner and I decided to go back and do it ourselves.”
Dyalekt Capalad, an emcee, playwright, and educator, has been using the cultural components of Hip Hop to provide practical knowledge for years — now with a focus on financial responsibility.
“When you mix Hip Hop with a mission to help students become better learners and better caretakers of their communities in a financial aspect, you have something powerful,” Dyalekt added.