Young men in DeKalb County are gaining national recognition for their exceptional financial literacy skills, thanks to the guidance of an Atlanta-based nonprofit organization. The 100 Black Men DeKalb Chapter has been providing invaluable lessons on financial literacy to dozens of mentees, primarily teenagers, in order to help them prepare for their future.
Troy Vincent, the president-elect of the 100 Black Men DeKalb Chapter, emphasized the importance of providing direction and support to young people. He stated, It’s our responsibility to reach back and help pave the way for these young people. The financial literacy lessons cover a wide range of topics, including investment strategies and why they are crucial. Vincent added, That’s what we’re looking to do, is to help those young people pass it on to start creating a legacy. They’re all our kids – any young person. I think you have a responsibility.
According to research conducted by Zippia, an online recruiting company, the number of financially literate adults has declined by 19 percent over the past decade. Alarmingly, two-thirds of Generation Z individuals admit to lacking financial literacy. However, the achievements of students like John Pacely from the 100 Black Men DeKalb Chapter demonstrate that there is hope for reversing this trend.
Pacely recently achieved remarkable success by securing second place in the national Wells Fargo Junior Investment Program. The competition involved a simulation using $100,000 to invest in stocks, bonds, and mutual funds. Pacely attributed his achievement to the knowledge and skills he gained through the financial literacy lessons provided by the 100 Black Men organization.
Reflecting on his journey, Pacely emphasized the importance of teaching children and young people about financial literacy and its long-term impact. He stated, It’s something we need to give to our children, teach our children, teach our younger selves how to learn. How to be financially literate and make decisions that will impact them.
Simone, Pacely’s mother, acknowledged the positive influence that the 100 Black Men organization has had on her son’s financial understanding. She explained that the organization provided a different perspective and angle on financial matters. Simone highlighted the long-term benefits of financial literacy, noting that it prepares young individuals for important responsibilities such as paying for their own expenses, managing finances as a family, and avoiding unnecessary stress.
The national recognition received by the DeKalb students serves as a testament to the effectiveness of the 100 Black Men DeKalb Chapter’s financial literacy program. By empowering young individuals with essential knowledge and skills, the organization is helping to create a more financially literate and responsible generation.
As the level of financial literacy declines across the country, initiatives like the 100 Black Men DeKalb Chapter’s program are crucial in equipping young people with the tools they need to navigate the complex financial landscape. These mentees are not only gaining expertise in money management, but they are also developing the ability to build a secure and prosperous future for themselves.
With their dedication to empowering young individuals, the 100 Black Men DeKalb Chapter is making a significant difference in society. By instilling financial literacy skills, the organization is equipping the next generation with the knowledge they need to thrive in an increasingly complex economic world.
