The Tuesday following Thanksgiving is designated Giving Tuesday. In appreciation of the things for which we are thankful, we give back to nonprofits across the US who are hoping to meet their year-end fundraising goals. While there are countless worthy causes, the experts at Evolve Bank & Trust are highlighting the importance of nonprofits dedicated to teaching financial literacy. Financial literacy is an invaluable life skill as it teaches everything from budgeting to investing. We’ll highlight three types of financial literacy education:
Children’s Financial Literacy
Setting children and teens up with a foundational understanding of financial literacy is key. These programs set youth up for success by teaching them the basics of budgeting, investing, and general principles of fiscal responsibility. Without programs like this, many people do not learn these life skills until they are adults.
ESL Financial Literacy
ESL financial literacy programs are focused on those for whom English is their second language. Some immigrants who are learning English for the first time may find the US banking system intimidating. These programs often cover both financial literacy and key terms that a new English speaker may not be familiar with. These programs often cover a range of topics from bank accounts and taxes to jobs applications and budgeting.
Financial Literacy Boot Camp
Many programs offer free financial literacy resources to community members of all walks of life. Truly anyone would benefit from a better understanding of how best to save, invest, budget, or borrow. Indeed, you are never too old or too educated to learn more about financial literacy. There are endless tools and free online resources for people may need a refresher or want to learn more. While those resources are free, often there is a nonprofit producing them and making them available.
As you research the local nonprofits in your area ahead of Giving Tuesday, we hope we have illuminated all of the good work being done to educate people of all ages on fiscally responsibility. Your Giving Tuesday dollars could be a part of that transformational work.