The AICPA and its members continue to be at the forefront of the financial literacy movement with free programs, resources and thousands of CPAs across all 50 states volunteering to help Americans with their financial understanding.
What sounds more appealing to you – reading a bunch of boring facts online or playing a game to learn the same exact thing? You’d probably choose the latter. In fact, research shows a majority of millennials see clear benefits from playing digital games. Two in three (67 percent) say that games are important in helping them to learn how to create winning strategies and 7 out of 10 (70 percent) feel it aids them in learning how to solve problems. The proof is in the pudding, as they say – and that’s where gamification and personal finances come into play (literally!).
Today, the AICPA and the Ad Council launched a free digital game, ‘Yesterday’s Tomorrow.’ The game is a new resource from Feed the Pig to help millennials build savings skills, a product of the idea Scott Garner submitted for the Feed the Pig Game Design Challenge. The challenge invited people to submit ideas for digital games to help educate Feed the Pig’s target audience. More than 70 ideas were submitted, and his concept was chosen to help educate millennials through gamification.
Continue reading "Where Will You be Financially in 40 Years?" »
Those fun, light-hearted GEICO commercials that ask if you are tired of paying too much for car insurance hone in on the idea of wasting your money –– paying too much for something or not getting enough.
As a CPA who is passionate about making my hard-earned money work for me, it’s important to take time to critically analyze what my cash is doing. Busy lives often lend themselves to costly complacency in one’s personal finances. Basically, we want bill paying done and our retirement planning intact with as minimal effort as possible.
At least once per year, I do a serious deep-cleaning scrub on my family’s finances. I look at what we’re paying and why, and I see where we need to do better. This “scrub” saves us thousands of dollars and I suggest each of you take a few hours each year to review your finances critically. Don’t let your money run itself; it needs you to keep it on track.
Continue reading "6 Money-Saving Tips You Can’t Afford to Miss " »
The AICPA National CPA Financial Literacy Commission Shares Insight on How to Beat the Real Threat of Fake Financial News
If it’s on the internet and in ALL CAPS it must be true! Whether it’s the GUY WHO TURNED $10,000 INTO $20 MILLION or the HOT TECH STOCK THAT WILL SHOCK YOU, you’ve probably seen some version of this fake news dozens of times a day. And, if you’re like me, you’ve probably clicked on one of these articles out of curiosity and quickly found yourself lost in a sea of misinformation. Sometimes it seems like you need to be a detective to decipher what financial news is real and what is fabricated. In this post, I’ll provide some information to help consumers be better prepared.
Continue reading "5 Tips to Help Identify Fake Financial News" »
Imagine 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.
Continue reading "Back to Basics with "Money Minutes"" »
If you watched the Masters this past weekend, you were most likely sitting on the edge of your seat. Sergio Garcia from Spain clinched the title from English player Justin Rose in a playoff that turned golf rookies into fans for life.
The most notable part of Garcia’s victory wasn’t the nail-biting 18th hole, but that he had nearly two decades of tournament experience – and this was his first major victory. Although considered one of the best players in golf, he never rose to the top like Tiger Woods, Nick Faldo, Jack Nicklaus and other golf “greats.” Until now.
Continue reading "Master Your Money: Golf Lessons for Financial Fitness" »