Client News: Georgia CPAs Teach Financial Literacy to Students Statewide
GSCPA members create an interactive program to help students learn important financial skills
ATLANTA (Nov. 23, 2015) – The Georgia Society of CPAs (GSCPA) recently held its third annual financial literacy day. The volunteer event, Millennial Money, gave certified public accountants (CPAs) the opportunity to teach eighth-grade students the importance of saving and budgeting.
“As trusted advisers, CPAs have the knowledge and expertise to teach students about financial literacy and prepare them for financially stable futures,” GSCPA CEO Boyd Search said.
During the one-day outreach initiative, 144 GSCPA members visited middle school classrooms where they taught basic financial concepts, such as saving, investing and budgeting to almost 6,500 eighth graders.
“We created Millennial Money to help students understand that a budget is a tool they should use to make smart choices about saving and spending money. Eighth graders are mature enough to understand the benefits of living within one’s income, saving money and avoiding debt. It is also the right age to begin developing financially smart saving and spending habits that can produce a generation of more fiscally responsible adults,” said Lynn Viars, CPA, chair of the GSCPA Financial Literacy Task Force.
The Millennial Money program included an interactive game as well as a lesson on how to prepare a simple monthly budget. This hands-on exercise gave students the chance to see how their future earnings will align with their expenses. A downloadable spreadsheet was also provided to help students visually track their spending and manage their budget.
“The Millennial Money volunteers have found a way to teach personal finance in such a way that the students are engaged… You have my promise that this program will be used every year,” said John Farthing, humanities teacher and department chairperson, Druid Hills Middle School.
GSCPA is the premier professional organization for CPAs in the state of Georgia. With almost 14,000 members throughout the state, the purpose of GSCPA is to achieve excellence by providing superior advocacy, leadership, service, lifelong learning, and personal and professional development opportunities. For more information, visit www.gscpa.org.