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Back to Basics with "Money Minutes"

Money mattersImagine a world where high school graduates confidently understand the pros and cons of credit cards, recognize the significance of an emergency savings fund and even have a strong grasp on what student loans mean for their financial future. Does it sound utopian to you? Maybe, but at the AICPA we strive to provide students with resources to obtain this kind of knowledge each and every day.

A recent financial literacy test given by the National Financial Educator’s Council found that test-takers from 15-18 years old scored an average of only 63.17%. To experts, personal finance topics are seemingly common sense, however, there is a huge discrepancy between what is taught in school and what students are expected to know upon graduation and beyond. To help combat this issue, the AICPA launched Money Minutes, a video module series that gets back to basic concepts of financial management for high school students.

Each module in the series includes a 2-3 minute video where members of the AICPA’s National CPA Financial Literacy Commission take students through different topics, including: Budgeting 101; College Costs 101; Debt Management 101 and Savings 101. At the end of each video, students are prompted to complete a quiz which recaps what was discussed in the video and helps solidify what they’ve learned.

When it comes to financial literacy, it can be challenging to find ways to engage young people, which is why our team continues to create resources that will help instill in students basic financial knowledge. Within the CPA profession lies the unique ability to help create successful futures, so we encourage you to share these modules within your communities and schools.

For the past 11 years, thousands of people have turned to the AICPA’s 360 Degrees of Financial Literacy program for additional financial guidance. The program, which is a volunteer effort of the nation’s CPAs, helps Americans understand their personal finance and develop money management skills. It focuses on financial education as a lifelong endeavor from children learning about the value of money to adults reaching a secure retirement.

For more information on how you can help promote financial literacy within your local communities, contact Samantha Delgado.

By: Samantha Delgado. Manager – Communications, PR & Corporate Responsibility

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