Financial Literacy for Gen Z Changing
There are several options to learn how to take care of your money.
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California; Hayward — A recent story suggests that Gen Z is not prepared to make financial decisions. In addition, there are few opportunities for them to learn about money in schools. Only 27% of high school students attend schools that offer personal finance classes.
In a world where inflation is rising all over the world and fewer people are able to secure home ownership, it’s important to educate the youth about how to manage money. Financial literacy is seemingly not a priority within the public school system and many people are missing out on such an important topic that will serve them in the future, according to the California Department of Education.
The good news is that more people are understanding the value of financial literacy skills. As a result, financial literacy information for Gen Z has become more commonplace with numerous videos being posted on social media
While on TikTok you might come across Gen Z influencer @InvestWithNat who is always sharing her knowledge.
@investwithnat 3 things I wish I knew about money before my 20s 💚 #moneytok #personalfinance #personalfinancetips #moneytips ♬ Obituary - Alexandre Desplat
Besides videos, an at-home program can now help. Recently, Create Every Opportunity launched an initiative for high school and college athletes. The immersive web-based financial course introduces financial literacy and entrepreneurial concepts. The at-home program is committed to addressing the educational inequalities surrounding financial literacy among the nation's youngest generations.
"Today's teenagers are confronting a growing array of financial choices, ranging from handling their initial earnings and establishing their first bank accounts and credit cards to deciding on student loans. Lacking a solid grasp of essential financial principles and wise strategies, many teenagers may unwittingly put their financial well-being at risk by making suboptimal monetary choices," said Ashley Henschel, Co-Founder of Every Opportunity.
Given the alarming lack of financial education, particularly in underserved communities, among American high school students, CEO Connect at Home empowers families by bridging this educational gap, offering invaluable resources within the comfort of their homes.
In households with teens, discussions about finances are imperative to equip them for the array of financial choices they will encounter. The typical student now incurs over $30,000 in debt to pursue a bachelor's degree, and while attending college, students typically spend more than $2,270 per month on living expenses.
The future is looking bright for the youth with a program like CEO Connect at Home. It goes to show that advocacy for what the youth learns in their educational spaces can bring about necessary and significant benefit to various communities.
Noumaan Faiz, (he/him) is a journalist and entertainer from Hayward, CA who covers culture and entertainment.
Edited by Nykeya Woods.