Foundations
of Finance

Get started with the building blocks of your
financial future!

futuristic tech image

"April 2024 was National Financial Literacy month in the US, but adult financial literacy rates in the country have hovered around the 50% mark for the past eight years."
- World Economic Forum (WEF)

The Problem with Financial Literacy in the United States

Unfortunately, financial literacy in the United States is low because of a lack of sufficient exposure to important concepts in schools and of opportunities to develop sound financial planning and management habits.

As a result, many young adults are ill-equipped to manage their finances, leading them to fall into debt and financial instability, often worsened by compounding poor decision-making.

"Only 41.9% of Gen Z and 53.5% of Gen X are familiar with a Roth IRA compared to 70.4% of baby boomers."
-MarketWatch 2024 Survey: Generational Banking Trends

"How often does the statement apply to you: “My finances control my life?

About one in four (27%) U.S. adults say the statement applies to them “always” or “often” while a higher share (38%) says “sometimes”. "

- Q1-2024 National Endowment for Financial Education (NEFE)
Public Opinion Poll

Compared to those with a very high level of financial literacy, those with a very low level are:

-2x as likely to be debt-constrained

-3x more likely to be not at all confident in their retirement income prospects

-4x more likely to lack 1 month of emergency savings

- 2024 TIAA Institute-GFLEC Personal Finance Index

Our Mission

The goal of this website is to help young people find their way to a sound financial future by starting early on the core building blocks of a solid financial foundation: a habit of prudent budgeting for expenses and outlays; the use of debt in a targeted and responsible way; and sound savings and investment.

The Impact of
Financial Literacy Education

Financial literacy education is crucial for understanding core concepts related to building wealth and maintaining financial health. Financial literacy helps individuals how to budget, save, invest, and manage debt.
Per the July 2022 FINRA National Financial Capability Study (NFCS) report, individuals with higher financial literacy are
more likely to:

  • Spend less than they earn
  • Have emergency and retirement funds
And less likely to:
  • Use high-interest/high-risk borrowing methods like auto title or payday loans
  • Incur late and over-limit fees

Building a Foundation

Foundations of Finance was developed to address gaps in financial literacy that could be lessened
through early introductions to core personal finance concepts. By introducing financial concepts as accessible
and intuitive, we hope to demystify them and promote financial planning and consideration among students.