World of Money is committed to its mission of improving
the financial literacy and business acumen of underserved
youth from low-income families. The Jump $tart Coalition
for Personal Financial Literacy tested High School Seniors
on financial literacy and found that low-income, 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, ages 12 - 18, will follow a Money
Track curriculum.
