Need Of Financial Education Programs For High School Students In Minority Commun
Posted by herry milton on October 14th, 2016
Financial literacy of the youth of any community is paramount. Not only does it help minority communities compete on the financial level with white communities, it also makes them capable of making the right financial decisions that can lead to a better and financially stable future. We all are aware of the gap that exists in the wealth accumulation between white and Hispanic households, and if statistics are anything to go by, then it is only getting bigger with every passing day. We are living in a world of equality; both social and financial. But, what we see from these statistics is far from how it is supposed to be. And to add to the woes of the people on the 'other side', we hardly see any substantial efforts to bring down the ever-expanding gap of wealth disparity. But, if it has to start, the right time is now. Otherwise, a decade or two down the line, we could expect the things to get worse.
When we talk about financial education for students, it should start at the high school level, which isn't the case in many of the states. Youths at this age are capable enough to grasp financial concepts, so thinking it won't work would stop the process in its tracks. There is an Ivy league based program that targets this grave concern, and has the power of helping the minority community grow wealth by gaining access to business literacy. The objective of this program is to reduce the wealth gap and bring white and minority households closer in terms of wealth. The program is designed keeping in mind the increase in financial disparity, and is community-focused, simple, and low-cost.
So, how does this program help in reducing the divide? With the knowledge it offers, it helps community people make better investment decisions, and make better gains in return. Graduates of this program are given the opportunity to meet investment and saving groups, which allows them to find more profitable investment options. This financial literacy program does away with the shortcomings of other such programs by promoting long-term engagement and providing social support.
Another important part of these programs is the transfer of knowledge between community members, which allows them to stay connected with each other. If the community needs to see change in this current situation, these are small things that need to come into every community, if things are to improve.
Author's Bio: The author is a blogger. This article is about financial literacy programs for minority community.