Call for Reform
What can be done to help?
There are many problems that contribute to the injustice of Financial Illiteracy in America, but not all of them are easily solvable. It is difficult to tackle the reckless actions of the banks and the lack of regulation in the government because those issues are on such a large scale. So, as a result, the next best thing is to attempt to solve an issue that is seen on a community level. Lack of education on the topic of Financial Literacy and the importance of it makes Americans more vulnerable to fall prey to economic instability. The most direct way to help solve this injustice is by providing education to teens and young adults who have gained their financial independence, and are in need of guidance as to what they should do with it.
ACTION PLAN
In the current situation, it is difficult for me to gain the attention of the government or a representative to request changes in regulation or ideals. So, I would like to equip people with the tools and armor needed to navigate the Capitalist system. My original plan was to hold a Financial Literacy seminar in the CSJ center at Fontbonne, however, due to social distancing I had to adapt my plan to work in this new society. So, I have begun planning a Financial Literacy webinar with guest speaker Carlos Couthino. It will focus on general aspects of Financial Literacy and the financial hurdles students going into and coming out of college encounter. With many students reaching the voting age, this webinar will hopefully help them get a better sense of what laws and regulations they want to support. They may also get a better sense of how certain laws or actions affect the economy, hopefully making people in my generation slightly more socially aware.
CATHOLIC SOCIAL JUSTICE TEACHINGS
My understanding of the Catholic Social Justice Teachings helped me understand what a reasonable plan of action consisted of. They showed me that the best way to solve the injustice was by reaching out and providing aid to communities directly.
PAST SUCCESS
The Advisory Council on Financial Capability, started by Barack Obama, focussed on providing the American people with resources for financial advice. They came up with ideas for standards, curriculum, and lessons for education. This program helped millions of Americans become more financially literate.
OUTCOMES
My hope for this webinar is to bring Financial Literacy education to many different communities and to help teenagers who are going off to college soon. This webinar is an example of a long term solution because it equips people with the tools needed to be economically found. The education may not immediately help people, but it will provide attendees with skills they can use in the long run. Direct education will increase the Financial Literacy rate in America and will help instill these ideals in communities. If more schools follow suit and begin adding Financial Literacy into their curriculum, it will start to become a natural tool for Americans.