Preparing Students for Economic Security Through Financial Literacy

Bank / Financial

To celebrate Financial Literacy Month, JA of New Jersey (JANJ) and 28 CNBC volunteers empowered 87 students at Parsippany High School by helping them imagine their future and gain the knowledge and skills to take control of their financial success. Hosted by CNBC personal finance reporter Kate Dore, this exclusive interactive event gave teens direct access to the nation’s most knowledgeable financial literacy experts. As an extension of JANJ’s digital and experiential learning resources, this financial wellness and education collaboration enabled a robust virtual discussion on economic empowerment.

As every month at JA of New Jersey (JANJ) is Financial Literacy Month, it was important and helpful to showcase this partnership during a nationally recognized month to highlight the importance of financial literacy. As much research points out, the optimal time to teach new concepts is when learners are young. When it comes to learning new subjects, teenagers learn much faster than adults, which is why teaching the importance of financial literacy at a young age is crucial to preparing the next generation for the future. hit. This virtual event was a unique opportunity for students to get a head start on responsible planning for their future and gain valuable advice from business professionals with many years of life and work experience.

Hosted by Kate Dore, CNBC personal finance journalist and certified financial planning professional, the virtual event unveiled the value of learning essential skills, like effective money management, budgeting and investing. . Prior to the event, JANJ staff held planning sessions with CNBC, implemented a lesson from the JA Finance Park Advanced program for use in a breakout session, and designed a mentorship guide for CNBC volunteers. .

With CNBC leaders from a variety of backgrounds and career stages, discussions on cost of living and salaries, budgeting and saving skills, and tips on setting financial goals for the future. To tie the program together, the diverse group of panelists recommended simple strategies to help inspire students to work hard and persevere.

CNBC students and volunteers were assigned breakout rooms to engage in an informal setting. After the discussions, the students were encouraged to use the chat function to post additional comments and questions, in which the volunteers could see the impact of their small group discussions, and the students shared their own reactions and feedback on points raised by speakers through a post-event survey. Reflecting on her experience, Genevieve, a student from Parsippany Hills Secondary School, said, “Working with my volunteer helped me understand the basics of adulthood, cost of living + median salary. To find out if you earn enough to live on (food, rent, taxes, utilities, etc.) from the salary you should earn roughly from your job. I didn’t understand how important it was to know.

Ahmed Kandil, a personal finance teacher at Parsippany Hills Secondary School, shared his thoughts on the event: “The past two years have been difficult for teachers, but especially for our students. I so appreciate that JA brings CNBC volunteers to our students to help them think about the future, a thought they may not think about since most live hand to mouth. I’m so used to seeing them in class, it was refreshing to see these students “all in” with their volunteers.

As the nation’s largest organization dedicated to empowering young people to take ownership of their personal economic success and plan for their future, JANJ understands the importance of infusing these core values ​​into their practices. There is an ongoing opportunity through the school programs provided by JANJ to educate K-12 youth about the economics of life. To learn more about these learning initiatives, provided free to schools and students across the state, click here.

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