Our financial choices affect many people in our lives, not just ourselves. Who do you tend to think of or ask for advice from before you make a big financial decision?
“Wow, I love your shirt,” I recently overheard my younger sister telling a friend.
“Thanks,” the friend replied, sharing that she purchased the shirt at a local boutique.
“I love their clothes, but they’re so expensive,” my sister commented. (And she’s right—they were expensive when I was her age, too!)
“Girl, that’s why you need to get one of these!” the friend said proudly, whipping out a shiny store credit card.
Our Pathway to Financial Success program has allowed us to go out and meet the people who are responsible for making education a reality for millions of students across the U.S. We have met with administrators, teachers, school board members and parents about the need for financial education and the resources available – while we are doing the advocating, our ultimate goal is for these people to become advocates themselves.
According to the Pew Research Center, three out of every four Americans say they aren’t saving enough – often less than 1 percent of their incomes. What do you think? How much is “enough”?
According to the latest Survey of the States study of U.S. standards of economics and personal finance, only 13 states require personal finance courses for high school graduation in the United States. Arizona just recently passed a law to make personal finance a required competency for graduation. This, coupled with the size of the Phoenix city-school district and Discover having offices in Phoenix, made the city a great place to spread the word about the need for financial education. Read more
Our national survey of high school seniors found that out of 1,300 students, only 17 percent discuss finance “very frequently”, and those who did were more likely to feel prepared for the financial realities of life after graduation. Do you talk to your child about money? If so, how often?
I’ve always said that personal finance lessons must be taught: in school, after school, and at home. I’ts not an either/or question. It’s yes to “all of the above”. But during the summer months, especially for those of us who are parents, we feel the increased emphasis on what happens “at home”. Read more
Last year, the National Foundation for Credit Conseling (NFCC) and the Network Branded Prepaid Card Association (NBPCA) conducted a Financial Literacy Survey that revealed more than half of adults in the United States (56 percent) admitted to not having a budget. What about you? Do you have a budget?
Our goal for Pathway to Financial Success is to bring financial education into high schools across the country. And one of our greatest advocates for making this goal a reality is parents – involved parents who want to ensure their kids are learning and being enriched in every step of their educational experience. In fact, our recent survey showed that high school seniors who talked to their parents about finances felt more happy, confident and knowledgeable about life after graduation. So, to connect with more parents, Pathway is heading to the 2013 National Parent-Teacher Association (PTA) Convention and Exhibition!
As you may know, the National PTA is the largest volunteer child advocacy association in the nation with approximately 5 million members. From June 20 to 23, more than 1,000 PTA members will gather in Cincinnati, Ohio to learn, network and become re-energized as volunteer advocates for all children. This convention will offer a wide variety of high-quality workshops with valuable information, ideas and resources for PTA members to take back to their schools and communities.
We can’t wait to spread the mission and message of Pathway, but we are even more excited to hear directly from some of our nation’s most informed and involved parents. Helping parents become advocates for financial education is one of our top priorities, and we hope that the insights from the PTA Convention will help us to become better resources for parents throughout the country.
If you happen to be attending, come learn more about Pathway to Financial Success at the General Meeting Session 2 (from 3:30 – 6:30 pm ) on June 21. If you miss us at the General Meeting Session, stop by our booth number 427 or the Discover sponsored Cyber Cafe for some internet and computer services.
Jennifer Grisamore is the Manager of Community Affairs at Discover Financial Services. She co-created and implemented Discover’s Pathway to Financial Success program and manages corporate grants, community partnerships and financial education funding to U.S public high schools.
Last year, Pathway to Financial Success awarded more than $2 million to 128 public high schools across the country. That money was used to educate more than 35,000 students just last year! As the school year is coming to a close, post-test data on these students and their financial education mastery is starting to roll in, and we are happy to report schools have seen great growth in student performance. Read more