Biz: How is Volt helping the youth in 417-land become more financially literate?
M.W.: Financial education shouldn’t feel scary or complicated. Volt offers tools and resources to build a solid financial foundation. We teach how to establish financial goals and offer basic financial education support such as how to borrow money, strategies for budgeting, building up credit, filling out FASFA forms, and doing taxes.
Biz: What advice do you have for mothers who want their kids to learn financial responsibility?
M.W.: Get a youth checking account set-up or a secured Visa card to let your kids practice saving and spending money in different ways. Teaching responsible habits when kids are younger, especially about credit scores, will lead to more responsible adults with more knowledge on how to save and the best ways to borrow. On average, an individual with low credit scores will pay three times more interest over their life than someone who has a high credit score, and it can take five to ten years to correct a score once it has fallen. Starting responsible financial practices young will create a foundation for financial health throughout their lives.