Why is this product/Service needed?

When young adults reach financial independence many don’t know how to utilize their money. Many students don’t have education in financial literacy which means that they struggle with skills that are needed for financial and personal success. Bad financial literacy can lead to debt and lifelong consequences that many young people are unprepared for. Specifically, the lack of a required course at the correct time prevent’s fair and equal access to this valuable information in a structured manner for all students. This establishes an unfair advantage for some, who are allowed the opportunity to learn about several important financial topics that help shape decisions that are made at a young age which continue to impact them for the rest of their lives. Currently in the state of Oregon, no financial education course is required as part of a four year high school education, thus students are never required to learn about finances through a free education medium. 

What is the problem to solve and the focus of the solution?

The primary problem is a lack of financial education course that is enforced by the State of Oregon’s high school program. Adding a course/information at this period of time will prove to be the most beneficial to the largest amount of people and will allow for free access to financial education. Specifically, the solution will utilize online resources and technology to help student’s learn about the available resources and tools used in the 21st century to complete a host of financial tasks. The following topics will be covered in the course and will provide a broad overview of necessary financial support: Understanding utilities, using checking/saving banking accounts, understanding debt and credit scores, understanding debit vs credit cards, creating a budget, creating and learning about various savings and investing strategies, filing taxes, applying for financial aid and student loans, understanding home vs auto insurance etc. Therefore, students will learn how to save and manage money from an early age allowing them to make better financial decisions that will empower them for the rest of their lives.

Team:

• Evan Mazrik, 
• Sydni Burt, 
• Samantha Hsu, 
• Malhar Damle