Why is financial literacy such a hot topic in the U.S.?
- 50% of Americans would experience financial hardship if they had to cover a $1000 or less emergency expense.
- 40% can’t cover a $400 emergency.
- 46% have no rainy-day fund.
- 66% of individuals cannot answer more than 3 out of 5 questions on a basic financial literacy test.
- 19% of households spent more in a month than they make from their income.
- The average household carries over $6,124 a month in credit card debt.
- 65% of Americans believe that schools should provide financial education.
Junior Achievement (JA), a non-profit, helps the American youth prepare to work readiness, entrepreneurship, and financial literacy. At JA Finance Parks, like the one in Fairfax, mini-cities are set up to give students grades 7-12 a chance to be an adult. There, the kids get an ‘avatar’ to experience the day’s ins and outs, from shopping for clothes, to getting insurance, and going through the home-buying process. They test their budgets, have successes and fails, with the opportunity to reinvestigate their wants versus needs.
With JA Financial Parks currently shuttered due to the pandemic, JA is launching a virtual stimulation and asking for your help.
On October 7-8, 1,000 volunteers are needed to participate in this virtual simulation stress test to make sure the program does not have any bugs and can handle a lot of student attendance at one time.
Through your participation in this computer game, which takes roughly one hour for the experienced budgeter to complete, you can help ensure access to an educational resource that can benefit a generation that has already had their educational experience uprooted by COVID. This virtual simulation can also reach kids located far and wide beyond JA’s current reach.
RVSP volunteers can contact volunteer specialist Shannon White at firstname.lastname@example.org to register for this opportunity. The deadline to register is Friday, October 2nd. Don’t miss your chance on this contactless virtual opportunity that will benefit middle and high schoolers across the nation. Tell your friends and family to join in on the fun, because, hey, maybe you or they will learn something about money management for yourselves.
Written by Vida Mikalcius