March Blog Post
The Prevail, Inc. Teen Financial Literacy Fair is a fun and interactive way improve your financial literacy with professionals in the community. In the book, Rich Dad Poor Dad, the author wrote, “[m]ost people fail to realize that in life, it’s not how much money you make. It’s how much money you keep . . . Money without financial knowledge is money soon gone.” Financial literacy is the set of skills and knowledge that someone may possess that allow them to make informed financial decisions. Unfortunately, financial literacy is simply not being taught in our schools nor in our homes; a recent government study, by FINRA, found that 66% of Americans couldn’t pass a basic financial literacy test. As a result, it is incumbent upon our communities to take the reins and teach financial literacy to its members.
Could you use a little more money in your pocket? Today, we are exposed to overwhelming amounts of information. That doesn’t, however, mean that we are exposed to accurate or useful information. Proper basic financial literacy is not only easy and interesting but can only result in having more money in your pocket. For example, being able to distinguish between a good and poor interest rate or avoiding unnecessary fees in a lease will only result in increasing the amount of money in your pocket.
Improving my own financial literacy turned my life around. At 18, I joined the Marine Corps and could not pass a basic financial literacy test - my bank account continued to remind me. I took loans and bought vehicles at high interest rates; I paid unnecessary fees for apartments; and I never saved a single penny. I continued to struggle with my own financial literacy until I was 27. Then, I began working to improve my financial literacy and slowly but surely saw an increase in my own financial well-being and understanding. Now, along with Prevail Inc.’s 100 Men Campaign, I want to help others improve their financial literacy . . . with free food and prizes!
Financial literacy is just one example of an issue Prevail encourages men participating the in Campaign to address. The 100 Men Campaign empowers and supports men in the community to make a positive impact by serving as a role model for others. The 100 Men Campaign also encourages men to step up and help reduce domestic and sexual violence in their community. Remember, we all control and shape the health, safety, and well-being of our community.