Midwest Family Lending offering financial literacy challenge
ADEL — Local mortgage company Midwest Family Lending is sponsoring the EVERFI Financial Literacy Bee, a nationwide financial literacy challenge for high school students, through April 15.
The virtual challenge, created by social impact education innovator EVERFI, and supported by leading financial institutions nationwide, features four short digital lessons followed by a capstone essay contest in which students share a short-term or long-term savings goal and outline their plan to achieve that goal. Three winners of the Financial Literacy Bee will receive up to $10,000 in college scholarships. To encourage local participation, Midwest Family Lending will award three $500 scholarships to Dallas County students.
The EVERFI Financial Literacy Bee provides an opportunity for students to learn the critical importance of saving and budgeting for short-term and long-term financial goals as families across the country are struggling financially in the wake of the pandemic.
“Midwest Family Lending is committed to engaging its communities, increasing financial literacy and driving impactful change. And strengthening our communities starts at home,” said Chuck West, Midwest Family Lending president. “It’s important to all of our team that students are given the tools they need to reach their financial goals. We hope the Financial Literacy Bee will help drive dinner-table conversations about important financial topics.”
By competing in the challenge, participating students can gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future. Topics include how to save, set financial goals, budget and invest.
“The pandemic has shone a bright light on the financial vulnerability of most Americans, with 40% of American consumers reporting that they had trouble paying at least one bill or expense in 2020,” said Ray Martinez, co-founder and president, EVERFI. “We’ve always been committed to helping students increase their financial literacy. And during this historic time, we are also working to help parents feel more comfortable having dinner-table conversations about money. The Financial Literacy Bee is a fun way for students to learn important strategies to increase savings.”
To learn more about the EVERFI Financial Literacy Bee, visit bit.ly/3sKK7zS.