Impact House Launches Partnership with Fidelity Investments focused on Financial Literacy for Students in South Dallas
#HackFinLit is an all day series of workshops for middle and high school students focused on designing solutions to challenges addressing Financial Literacy in under-resourced communities.
Dallas, TX, June 15, 2018 — Impact House — Venture Accelerator teams up with Fidelity Investments to present #HackFinLit — A one-day immersion where students connect with mentors and industry experts, collaborate amongst teams in a hack-a-thon style format to create tech-enabled or innovative solutions to challenges related to Financial Literacy. The all-day design workshop kicks off on Monday July 23rd, 2018 from 8:00am — 3:30pm on the campus of Fidelity Investments in West Lake Texas.
Students will be provided transportation from the Martin Luther King Jr. Community Center in South Dallas — Fair Park to the campus of Fidelity Investments (Westlake) to then break into competitive teams to experience a interactive human-centered design thinking process of ideation and prototyping to produce (10) tech-enables or innovative solutions that address challenges in Financial Literacy amongst teens.
The number of financial decisions individuals ages 18 to 24 must make continues to increase, while simultaneously the variety and complexity of financial products also continue to grow. How we choose to address this divide will dictate the financial stability of future generations across our country.
A 2016 survey indicated that only 31% of young Americans (ages 18 to 26) agreed that their high school education did a good job of teaching them healthy financial habits. Young people often do not understand
Only 23% of kids surveyed indicated that they talk to their parents frequently about money, and 35% stated that their parents are uncomfortable talking to them about money.
Kids are not learning about personal finance at home. A 2017 T. Rowe Price Survey noted that 69% of parents have some reluctance about discussing financial matters with their kids. In fact, parents are nearly as uncomfortable talking to their children about sex as they are about money.
A 2014 study indicated that only 24% of Millennials (ages 18 to 34) surveyed could answer four out of five questions correctly in a financial literacy quiz.8 By comparison, 48% of Baby Boomers (born between 1946 and 1962) were able to answer four out of five correctly.
Last April the first pilot, #Hack4Impact was launched at Juanita Craft Recreation Center in partnership with Capital One and the Future Edge initiative. Capital One Tech Employees, and community leaders partnered introduced 60+ students to Stanford D School Curriculum to design solutions to everyday challenges within their communities. #HackFinLit is the 2nd pilot series of programming focused on Pathways to Innovation — A program designed to train and develop the next generation of problem solvers, entrepreneurs, and innovators.
#HackFinLit is the second pilot series of programming focused to introduce Pathways to Innovation — A program designed to train and develop the next generation of problem solvers, entrepreneurs, and innovators to be change agents in their communities and abroad using the fundamentals of business and scalability of technology.
Originally published at medium.com on November 18, 2018.
