World of Money is committed to its mission of improving the financial education and business acumen of underserved youth. The Jump $tart Coalition for Personal Financial Literacy tested High School Seniors on financial literacy and found that African American and Hispanic students scored lower than higher income students and white students.
Further, a study conducted by the Woodstock Institute found that “without an appreciation of money concepts and an understanding of financial options, people are likely to pay more than they have to for financial services, fall into debt, damage their credit records, over-invest in life insurance, or declare bankruptcy.” However, the good news is that overwhelming research indicates that financial education helps reduce poverty.
Consequently, World of Money has created a Summer Youth Financial Literacy Training Institute to fulfill its mission. Participating students, YOUNG MOGULS (ages 7 - 9); RISING MOGULS (ages 10 - 12); MOGULS (ages 13 – 18), will follow a Money Track curriculum.