FINANCIAL LITERACY: IT JUST MAKES CENTS
by Rick Birt, President & CEO
I remember sitting through numerous math classes throughout my high school and college years. Math really wasn’t my jam, as Cynde Sroufe, one of my high school math teachers, would tell you. In college, I was strongly encouraged to take Calculus or Statistics. I decided to take “The Language of Math,” and it was one of my best decisions. This class taught me how to balance a checkbook, how a car loan was compounded, and other real-world math skills.
In my many conversations with SADD students across the country, I’ve heard that many of them don’t understand these basic principles of personal accounting — in short, our members are lacking Financial Literacy. SADD members need to know how to create a personal budget, how credit works, and they should understand how to pay for college and the long-lasting effects their college choice can have on their financial future. This need exists, not only to ensure the success of our membership in reaching their future goals and dreams, but also because financial insecurity is one of the greatest stressors for Americans of all ages. All too often, we see this stress affecting mental wellness, and if SADD can respond to a need like this, then we owe it to our students to fill this void.
We consider ourselves lucky that we have found the perfect partner that shares this vision — AXA Equitable Life. Together, we are creating a financial literacy program that SADD chapters and AXA Advisors can use together to increase Financial Literacy among our members. SADD is excited to pilot this program in select communities starting in January 2020. To help SADD Nation spread the word on this important topic, we are also launching Financial Fridays. Every Friday our social media will come alive with different focus areas from the pilot program — budgeting, covering the cost of college, how to prepare for an interview, how your credit score is calculated, and much more.
As an organization, we have always responded to the greatest issues that affect the health and safety of young people. With financial literacy having such a clear connection to mental wellness, I’m pleased to see SADD Nation stepping-up to address this issue with a true leader in the industry, AXA Equitable Life. We will launch a special section of our website in January and will have more information for pilot communities soon. For now, get ready to increase your financial literacy, SADD Nation. Why? Because it just makes cents.