Financial Literacy for the Modern World
“If I gave you $100 right now, what would you do with it?”
The ideal answer: save, and/or invest.
The likely answer: Go straight to your store of choice, and blow it all up.
The reality is that most of us suffer from the latter mindset.
According to the Federal Reserve Board, 4 in 10 Americans afford a $400 emergency expense, which highlights a deeper issue; people are fundamentally unprepared for emergencies - let alone, retirement.
““Nothing is more fundamental to achieving financial stability than having savings that can be drawn upon when the unexpected occurs” ”
While having a good job with benefits and a retirement plan is great (this is NOT a bash against the 9-5ers out there), there are ways to make money work for you, so you won’t always have to “rise and grind” for it. This isn’t necessarily being lazy, as much as it is understanding that there are multiple ways to do business.
This is why on May 18, 2019, Mastermind Connect partnered with Cross-Training Athletes into Believers (CTAB) and TD-Bank to create a masterclass centered around financial literacy. Going from the ground up, we focused on credit vs. debit, building credit, and banking for your future to more complex topics such as investment and cryptocurrency, and how to use all of these to establish a healthy financial ecosystem.
The Catch: Communicating this to a room of sleepy teenagers on a saturday morning.
Thanks to Mohamed Ombada (banking), Eric Kyere (investing/cryptocurrency), Vinnie Johnson (Freakonomics), and Cortni Grange (Freakonomics), we were able to not only execute, but engage both teens and adults alike - the $30, $50, $100 raffles probably helped, too.
Upon completion of the event, students received certificates and other gifts from TD Bank, in addition to the valuable knowledge gained from our team of working professionals and entrepreneurs.
You can catch a glimpse of it in the video below:
As we at Mastermind Connect like to say: “There will be more of this.”