Minding Your Money: Skills for Life
America’s life insurers believe that financial education is an essential building block toward long-term financial wellness. Amid economic uncertainty and increasing financial stress, particularly on young people, the need for financial education that empowers students to approach their finances with confidence is even greater.
New research from Guardian reveals that 67% of Generation Z adults say that money and finances are a top source of stress in their lives, yet only 23% say they are good at managing their finances. GenZers also experienced a significant decline in perceived financial wellness from 39% in 2022 to 23% in 2023.
The Minding Your Money: Skills for Life™ program, introduced recently by Guardian and EVERFI from Blackbaud is a robust financial wellness curriculum for high school students that comes at a critical time. The program is designed to help students develop positive financial habits that will last through adulthood.
In its first year, the program will reach 20,000 high-school students in 15 states and is expected to reach 40,000 students in 19 states in 2024-25. In some schools, Guardian executives and employees will connect with students in the classroom to discuss financial wellness and financial careers.
Key aspects of the program include:
- Interactive, scenario-based digital experiences to help students better understand the implications of different financial decisions
- Instilling the habits, confidence, and willingness in students to make sound financial decisions before they are called upon to work full-time, borrow, and save
- Addressing the intersections of personal finances, relationships, and health, while considering a student’s available resources, personal history and existing challenges, as well as the state of the economy
Guardian is providing this program at no cost to educators, districts, and students and with EVERFI, is committed to supporting communities with the greatest need. More than 70% of participating schools are in low- to moderate-income communities, where most students receive free- or reduced-price lunch. This focus is important because researchers at the Wharton School found that more than one-third of financial inequality in the United States could be accounted for by the differences in financial literacy.
The life insurance industry believes everyone deserves the opportunity to achieve financial wellness that will serve them in good times and protect them in hard times. Through programs like Minding Your Money, we are helping to build financial certainty and wellness for the next generation.