The Financial Industry Regulatory Authority (FINRA) reports that less than a quarter of Gen Z respondents (aged 11-26) could correctly answer four out of five basic financial literacy questions. In response to these shortfalls, financial literacy programs are beginning to take shape in schools across the country.
In Brooklyn, seventh- and eighth-grade students at Midway Catholic Academy will have an opportunity to participate in a four-part afterschool program on financial literacy. This program will cover areas such as money management, creating savings, how credit works and investing. Kayla Broomfield, an alumnus of Midway Catholic Academy, is offering this new after school program at her alma mater on October 12, 19 and 26.
The classes feature interactive activities, including games and role playing to reinforce key financial concepts in an engaging manner. Through using real-life examples and everyday situations, the goal is students will be able to understand these larger concepts with ease.
Ms. Broomfield also uses books and a digital platform, along with videos and a fun character named Funds to keep students engaged. Each class will focus on a specific theme and on the fourth week, a representative from Apple Bank will join the class to discuss banking basics. Students will be provided with take-home resources to share with their parents.
Midway Catholic Academy is located at 1501 Hendrickson Street in Brooklyn
