EDUCASH – Financial Education
Millennials are better educated than their predecessors, more ethnically
diverse, and more economically active. Millennials confront greater
difficulties — including economic uncertainty, student debt—than those
who came before them. As a generation carrying new personal financial
responsibility, it is critically important for Millennials to be on a path
leading toward financial security. Yet, research indicated that only 24%
of Millennials demonstrated basic financial knowledge, and majority
were very unsatisfied with their current financial situation. With all
things said, when facing such critical condition, only 27% of Millennials
are seeking professional financial advise on saving and investment. Lack
of financial knowledge may jeopardize millennials’ financial success.
Therefore, manifestation of this event is to bring awareness to those
younger millennials to make the same mistake is the second priority and
more importantly to encourage school board to include financial literacy
as part of the curriculum.
Steffenhagen, J. (2019). Canada’s education system is failing. Vancouver Sun.
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Although Canada has had some educational success, it appears to be
headed for a national knowledge disadvantage, the CCL report says.
“Unlike Canada, competitor countries have developed, or are in
the process of developing, coordinated approaches to education
and lifelong learning,” CCL president Paul Cappon states in a release.
The report acknowledges the successes of the Canadian education
system, including the solid performance of students in international
tests, declining drop-out rates and growing numbers of aboriginal
students completing high school and continuing with post-secondary
education. But says that despite those positives, “there are also signs
of systemic weakness that, if left unchecked, will inhibit Canada’s
capacity to grow and prosper. Indeed, Canada cannot claim to be
a learning society until we have confronted the many learning
paradoxes that undermine further progress.”
Steffenhagen, J. (2019). Canada’s education system is failing. Vancouver Sun.
WHY?
Millennials, the target group, growing and gradually becoming independent,
they need to know that finance is a big part of life, lack in education, could
result in a catastrophic bankrupt, loan, and sad elder life. Each Year, students
spending an average of $4,321 to pay back credit cards, personal loans, and
student debt over the course of their degree. As research indicates, millennials
are historically under-payed and tend to purchase more expensive goods in
the market. However, only 24% of the young millennial generations are
considered well knowledgeable when it comes to financial literacy. For
millennial, debt free is considered as a success.
WHAT?
Situation is, the negative financial cycle occurring to millennials is not just
about a over-spending lifestyle. Down to earth, it is about finding balance
between a healthy lifestyle and saving. However, not many people can realize
that is the small things that really matters in finances. Know how to make a
healthy financial decision is the first step for people who want to break out of
the pay-check to pay-check cycle.
HOW?
Curating a event for millennial generation, explain in-depth on the reasoning
Curating a event for millennial generation, explain in-depth on the reasoning
and consequences of financial illiteracy. Providing them a solution by expanding
access to financial education with a forward-looking approach to financial
literacy. Starting by school, education systems should provides an opportunity
to shift future generations’ financial positions, giving them a solid base from
which to make life’s important financial decisions. Millennial should start self
evaluate their own financial standing, and learn more financial knowledge to
gain a greater aspect on personal finance.
After a in-depth research on how currently Canadian financial system
is facing critical vulnerabilities, and how personal finance problem can
reflect on personal and social aspects. We realize that financial literacy
matter need to be communicated in a serious tone. We aim to bring
awareness and attentions to people, and let them deeply contemplate
over their own financial knowledge. Because, without an understanding
of basic financial concepts, people are not well equipped to make
decisions related to financial management. People who are financially
literate have the ability to make informed financial choices regarding
saving, investing, borrowing, and more.
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EDUCASH – Financial Literacy
Instructed by Frederick Burbach
Designed by Ruizhou Li, Jenny Hwang & Greg Donnato
GRAPHIC DESIGN WORKSHOP 2019
