financial education

Redstone Federal Credit Union is awarding $750,000 to Middle Tennessee nonprofits through its Community Impact Grant Program, with applications open until August 1. The program prioritizes organizations focused on financial education, workforce development, and economic opportunity, and Hustle Recovery, a Joelton-based nonprofit, received $80,000 in the program's first year to renovate a recovery facility.

Financial experts advise parents to involve teens in the costs of purchasing a cell phone, including contributions through work or chores, and to establish clear financial and usage boundaries. Cherry Dale from Virginia Credit Union emphasizes discussing total costs, school policies, and creating a family phone agreement to teach financial responsibility.

A 15-year-old criticizes Britain's failure in financial education, arguing that their generation is not being prepared for success. The article highlights concerns about inadequate financial literacy among young people.

JPMorgan Chase plans to expand its Community Center program by doubling the number of branches in low-income areas and hiring 150 additional community managers. These centers provide free financial education workshops and aim to reach 5 million attendees, aligning with the bank's compliance with the Community Reinvestment Act and its goal of increasing access to banking services.

Gen Z prioritizes financial security over traditional workplace social events, showing proactive behavior like tracking expenses and valuing 401(k)s as status symbols. Despite efforts, many feel financially insecure, with low participation in workplace retirement plans. Employers can help by simplifying enrollment, automating savings, and providing financial education to build confidence and retention.

NatWest is introducing financial education classes for under 18s in youth clubs to teach the importance of investing and improve financial literacy among young people.