SOURCE: The National Youth Financial Educator's Council

The National Youth Financial Educator's Council

April 14, 2010 11:31 ET

National Organization Picks up Grassroots Campaign to Teach Kids About Money

Obama Administration: Lack of Financial Literacy Is a National Crisis

HUNTINGTON BEACH, CA--(Marketwire - April 14, 2010) -  Top members of President Barack Obama's cabinet made it very clear earlier this month that the lack of financial literacy among America's youth is the next major crisis that will plague the economy in the future.

"We're moving forward with financial reform and strong protection for consumers, but we must also do a better job of making sure our students graduate from high school with a better understanding of basic economics, basic finance and the benefits and risks associated with debt," said Treasury Secretary Timothy Geithner.

The National Youth Financial Educator's Council (NYFEC - www.FinancialEducatorsCouncil.org) -- an organization dedicated to increasing youth financial education through live events, curriculum, multimedia training, parent and educator instruction -- agrees with the sentiment. However, they believe a more holistic approach is needed to solve the problem.

"Comprehensive solutions that reach our youth multiple times through several different sources can help our children pick up 'real world' financial literacy skills," said Vince Shorb, current president of the organization. "We see positive results when we start financial literacy campaigns off with high energy kickoff events that motivate our participants to start taking positive action. This is typically followed by financial literacy curriculum, multimedia learning center education, day camps and parent and educator training."

"While Money XLive is the preferred event for large scale financial literacy initiatives, the self-hosted financial education events are becoming increasingly popular. Financial literacy is a grassroots movement, and we provide complete financial education resources so the movement will spread faster," states Shorb who developed the Money XLive Multimedia workshop so people can host their own financial education events. 

The National Youth Financial Educators Council believes that communities need to deliver a practical financial education to our youth, or people will continue to struggle for many generations. In order to empower all of the children in our nation, Money XLive Financial Literacy Workshops have been created to help facilitators host their own financial literacy events in their community.

"'I wish I was given a practical financial education when I was younger' -- is what I am told by almost everyone, when I share with them what I am doing," Shorb added. "Would you throw your kids on a freeway without driver training? Then why do we send our kids into the real world without financial literacy training?"

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