Financial education is driving factor behind the mission of the BYCIG. We believe financial education is one of the most important fields of education and that it is egregiously under-taught. We believe that pedagogy and education is, simply put, the way that our society chooses to prepare its youth and young adults for adulthood. In order to thrive in adulthood young adults and students must have been given a proper education; this education isn’t just referring to the curriculum taught in high schools and universities around the country. The education a student needs for life also entails interpersonal understanding, morality and values, critical thinking and analysis, and much, much more. Within those topics not so often taught at universities and high schools is a financial education.
A large share of the daily problems that adults face have to do with their incomes and their expenses. CNN reports in their “Stress in America” survey, that “71% of Americans identify money as a significant cause of stress in their lives.”
71% of Americans identify money as a significant cause of stress in their lives
Duke university personal assistance services
Financial education is neglected by most high schools, and the few schools that do teach financial education do not do so sufficiently or efficiently. There is a handful of reasons why this is detrimental to the youth in our country, each one no lesser than the other. At the BYCIG we believe that it is of the utmost importance to not only teach financial education basics to everyone, but also, that more advanced financial concepts should be accessible to all those who are interested. When our founders initially thought up the concept behind the BYCIG they were shocked at how eager their at times academically lethargic cohort was to learn, yes learn, about finance and economics. This excitement without a doubt is part of the reason why the BYCIG exists today.
Financial education goes beyond understanding how to responsibly take on debt and how to avoid malicious agreements and financial arrangements. That is the bare minimum. All Americans should understand how to keep themselves financially protected and have at least some conception of financial responsibility. We believe that is a right for all students to understand how they can turn their money into future income. Credit card debt is growing in the United States at a rapid pace. Credit systems are one of the great inventions of mankind but irresponsible credit usage can become a major impediment to future opportunity.
These are just a few of the many reasons why we at the BYCIG believe that financial education is of the utmost importance and why it is the centerpiece as our mission as an organization.
Look forward to more insights and analysis from the BYCIG team.