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Message from Chair Andrew Koenig & CEO Laurie Sallarulo
Over the past few weeks, we celebrated Financial Literacy Month. We celebrated the power of helping our youth navigate their financial journey with confidence and competence. It is our responsibility as community advocates, leaders and parents to do our part to provide young people with the knowledge and skills they need to make informed financial decisions so they can avoid the hardship so many adults have faced.
Rather than give you our thoughts and beliefs, we want to share a powerful story with you.
We recently had the chance to reconnect with one of our JA alumni, Emily. She shared when she participated in the JA Finance Park program in 8th grade, she enjoyed it more than sitting in a classroom, but she admitted she didn't fully grasp the relevance of budgeting, managing finances, or the importance of maintaining a good credit score.
Without realizing it, a lot of it stuck with her. Throughout college, Emily worked hard to manage her money, "paying herself first" budgeting and ensuring she didn't overspend. She monitored her credit score religiously, remembering what she learned, "your credit score is your financial reputation."
Then came the day she went to buy her first car. When she sat down with the salesperson to discuss financing options, she realized how real and important being financially literate is. "While I was listening to the interest rates, it hit me how the rates and payments had so much to do with my credit score," said Emily.
Emily negotiated with the salesperson, using her good credit score to secure a lower payment. As she drove off the lot in her new car, she shared how happy she was that she had the JA Finance Park program experience and that it prepared her for this moment!
This is just one of so many stories we hear from our JA alumni. Financial literacy isn't just about numbers; it's about empowering students!
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