Grossman Unveils Youth Financial Education Fair Tool Kit
Information will Empower Educators to Host Comprehensive Financial Education Seminars
Treasurer Steven Grossman today unveiled a comprehensive guide that advises educators, school administrators, and other interested parties on how to host a financial education fair geared toward young people. The Youth Financial Education Tool Kit is available on Treasury’s website at http://www.mass.gov/treasury/youthfinancialfair.
“Financial literacy is one of my key priorities as Treasurer, and this Took Kit will encourage more educators to instill basic money management skills in kids at a young age,” said Grossman. “Teaching financial literacy to these students early on will give them practical lessons that will help them achieve and sustain long-term financial stability throughout their lives.”
The Youth Financial Education Tool Kit contains information on how best to approach organizing, financing and operating a financial education fair for a young audience. A financial education fair typically involves young people selecting a desired career with an associated salary and then going through a series of financial decisions within that context. These decisions can range from deciding whether to own a pet to the scope of their income expectations in retirement, and the format is designed to help young people better understand the importance of budgeting, saving and making smart financial decisions.
The Tool Kit contains tutorials on such topics as model floor plans for the fair, suggested booth topics, how to identify mentors and advisors, how to raise potential funds through donor letters, and best practices in general. Grossman said that he encourages schools and educators to organize these fairs and emphasized that Treasury’s Office of Financial Education stands ready to offer any advice or technical expertise.
Financial education fairs have been taking place throughout Massachusetts for over a decade. Oftentimes, schools partner with banks or credit unions to assist with the relatively modest costs involved.
Treasurer Grossman has made financial literacy a priority in his administration, noting that “kids need it, veterans need it, senior citizens need it, and single moms need it.” In addition to attending a number of financial education fairs at local schools, he has sponsored and attended a series of free day-long regional Money Conferences, which are geared toward helping adults sharpen their financial skills. Grossman was also instrumental in establishing the Financial Literacy Trust Fund, which raises money to direct toward efforts to enhance financial education for seniors, veterans, K-12 students and low and moderate income families.