National Financial Educators Council Featured In a USA Today Article on Money Management

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The National Financial Educators Council was featured in a USA Today article on money management entitled ‘Life Stages: First job, first paycheck and first budget’.

The National Financial Educators Council was featured in a USA Today article entitled ‘Life Stages: First job, first paycheck and first budget'. This article written by Hadley Malcolm and was released at the start of Financial Literacy Month – April in the United States. The piece gave concise money management tips for youth who are new to the workforce.

The money management article featured suggestions from financial professionals and youth that recently entered the workforce. The financial experts quoted in the article included Vince Shorb, Chief Marketing Officer of the National Financial Educators Council; Mitch Weiss, a finance professor at Hartford University; Greg McBride, senior financial analyst at Bankrate.com and Gerri Detweiler, personal finance expert for Credit.com. Each of the young adults interviewed Nathan Jones, Raquel Castillo, Zach Strauss each also gave their personal experiences and point of view on the subject matter.

Shorb gave his thoughts on budgeting, and suggested establishing a working budget is critical for today’s youth to develop one early. He also gave his tips on managing investment risk and was quoted as saying, "Whatever you put in, in any kind of market, is risk capital. You could lose it all. Step on that brake until you can mentally say, 'I could lose all this money and it will not impact my day-to-day life.' "

The article also had quotes that suggested the importance of finding a trusted mentor or financial expert to help youth develop good money management habits. The National Financial Educators Council website suggests that all youth should receive a practical money management program before they move out on their own, so they are prepared when they do get their first paycheck. Shorb takes it a step further and states, “every student should participate in a professional-level money management program before they take out a student loan. Many students find themselves in tens of thousands of dollars in debt, and they can’t even balance their checkbook.”

The NFEC is a social enterprise organization that is on a mission is to create a world where people are financially capable to make sound, effective financial decisions that improve their lives and the lives of people they influence, all around the globe. The NFEC is also focused on raising awareness for the financial literacy movement through their Financial EduNation Campaign, which promotes collaboration with the media, celebrities and launching high-profile campaigns and financial literacy Public Service Announcements.

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