Category Archives: poverty

Financial Literacy: The M in STEM

Finance

“We teach our children to wear seat belts. Schools invest in programs aimed at helping kids practice smart internet habits. But few are talking about the dangers of too much debt or the blessing that is compound interest.”

– Greg Iacurci for InvestmentNews (2019)

State of Texas Representative Vikki Goodwin (District 47, Travis County), filed House Bill 1182 in 2019. The Bill required a personal financial literacy course for high school students. Vikki remarked:

“I filed this so that we can ensure young adults are getting out of high school with an idea of how to handle their personal finances. I have kids of my own who are young adults, who are on their own now and have had to learn how to budget, and of course as a realtor I’ve come across a lot of young adults who are trying to buy a home or lease a home and who just don’t know a whole lot about finances, interest rates, credit, credit cards, and credit scores.”

Some educators fear high school students have a lot of requirements already, and this would involve a new requirement. But Vikki emphasized, “We’re trying to make it as flexible as possible. It could either take the place of an elective, or we’re also looking into having it take the place of one semester of math or maybe one semester of economics.” (Texas Standard)

Goodwin’s measure passed in the Texas House of Representatives, but then died shortly thereafter in the Senate. It is my personal hope the bill will be reintroduced and passed in the future.

When it comes to being financially literate, Americans fall short globally.

“Although the U.S. is the world’s largest economy, the Standard & Poor’s Global Financial Literacy Survey ranks it No. 14 (tied with Switzerland) when measuring the proportion of adults in the country who are financially literate. To put that into perspective: the U.S. adult financial literacy level, at 57%, is only slightly higher than that of Botswana, whose economy is 1,127% smaller.” Greg Iacurci for InvestmentNews (2019)

How do we go about solving this issue and putting America back at the top of the list?

Last fall, I had the good fortune to meet Maura Cunningham, founder of Rock The Street, Wall Street, a new financial literacy nonprofit based in Nashville, Tennessee that is expanding across the United States. With a focus on young high school age women, Rock The Street is unique. It departs from traditional, passive classroom learning models by engaging volunteer female financial professionals as teachers and mentors. This “real life” program dovetails seamlessly with the normal fall and spring semesters of the school year.

Using an open source curriculum, Rock The Street professionals both teach and mentor. Field trips to financial institutions are part of the mix. Rock The Street has developed an extensive national network of financial service companies eager to provide leadership support, both in terms of funding and female financial professionals who can be tapped to help lead classes and to serve as mentors.

The statistics for this startup (launched in 2013) are impressive. Rock The Street, Wall Street served 2,325 young high school age women last year. Its alumnae demonstrate a 92% increase in financial literacy and they are four times more likely to pursue degrees in finance, economics or related fields than the national average. In terms of Texas, Rock The Street has been offered in two schools in the Fort Worth area. We hope to see it expand statewide in the months and years ahead.

The sad truth is, without financial security women are more prone to domestic violence, they have fewer job opportunities and reduced income. And, 41% of families with children under age 18 include mothers who are the sole or primary source of income for the family. The likelihood that future mothers will also be the sole family breadwinner means the existing gender wage gap and savings gap will have a negative impact on generations to come.

High School Class

Our high school years are a critical time of life. This is when self confidence and self esteem are strengthened and future career choices are made. Unfortunately, comprehension of basic financial principles today is staggeringly low: only 27% of young adults know basic financial concepts such as interest rates, inflation, and risk diversification.

Oxford Learning notes, “Some students dislike math because they think it’s dull. They don’t get excited about numbers and formulas the way they get excited about history, science, languages, or other subjects that are easier to personally connect to. They see math as abstract and irrelevant figures that are difficult to understand.” Oxford suggests making math “real” to students by showing how the M in STEM relates to everyday life.

What better way to engage young women in high school than with female financial professionals actually working in the field!

“In the U.S., we start to lose girls in math at age nine. As they age, girls report significantly lower confidence in math, despite earning equal scores to boys. 80% of teachers self report that they are not competent teaching financial literacy. With girls falling out of math at such an early age and teachers reporting that they are not qualified to teach financial literacy, it’s no wonder two out of three women state they know little to nothing about finance or financial products.” (Rock The Street, Wall Street)

I am heartened to see a growing number of support organizations and startup underwriters focusing on women today. Particularly exciting is Melinda Gates’ financial commitment to promoting gender equality and expanding women’s power and influence across the United States. Thanks go to them all, including educational innovators like Maura Cunningham and Rock The Street, Wall Street.

If you would like to know more about this pioneering and highly effective high school program for young high school age women, please let me know.

Downloadable documents:

Impact Report, Board List and More

School Information Sheet

Photographs illustrating this article are courtesy of Adobe Spark.

 

 

 

 

 

Digital Inclusion: As We Race Ahead, Let’s Be Sure No One is Left Behind

Google Fiber is a strong advocate for digital inclusion in Austin and across the nation. Shown is a panel discussion at Google Fiber Space a few years ago (my Instagram).

It is hard to imagine, but across the United States there are still many who have no idea how to use a computer. And while most people own mobile phones, access to wireless remains a constant challenge.

I don’t know about you, but I am highly cognizant of how most job applications are only available online today. Not knowing how to use email, Microsoft Word and the Internet (or simply not to have ready access to a wireless “hot spot”), prevents some from applying for jobs, pays bills, submitting inquiries for essential information, completing medical forms and the like. Even if “computer skills” are not part of the job description, to apply for them one must normally have access to a computer of some type. Time sheets, product inventories and cash registers are all connected to complex corporate networks, and they require employees to be competent – at least in a basic fashion – with using technology.

Austin Free-Net is a nonprofit organization with which I worked briefly a few years ago. This organization and others in Austin – including the City of Austin – are working to address these now-essential technology training needs. Executive Director Juanita Budd notes:

“When citizens cannot find work and families cannot support themselves, the repercussions echo throughout the community. Less people working means less tax revenue, while simultaneously there is an increased pressure on social services providers. A family might need an older child to quit school and go to work, which means the cycle of low-paying jobs continues for another generation. Improving the education and technical acumen of our residents will draw more businesses to Austin, increasing tax revenue and reducing unemployment. In short, a computer literate population makes a city stronger economically and makes us more attractive to new industry.”

Roca

Sotun Krouch of Roca spoke about his nonprofit’s use of data during the Social Solutions 2017 Impact Summit in Austin.

I was also pleased to attend the Social Solutions 2017 Impact Summit in September in Austin. During the event, Robert F. Smith of Vista Equity Partners spoke with Kristin Nimsger, CEO of Social Solutions. Part of the discussion is found below in my Facebook Live video (3 minutes). Robert discusses the need for effective use of data, the increasing digitization of business globally, and how everyone is struggling to keep up! This is certainly true for those who find themselves in low income and under served communities.

U.S. News & World Report features an interview with filmmaker Rory Kennedy, “New Documentary Explores the Digital Divide” (September 19, 2017):

“In making this film I really began to understand the depths of the issue and the fact that there are over a million classrooms in this country that don’t have adequate broadband, a huge number of kids who don’t have access to computers, and the reality that 77 percent of jobs are going to require technology education and background by the year 2020.”

Mozilla observes in, “Digital Inclusion Means Promoting Diversity” (2017):

“As inclusive as the Web can seem, it’s not yet an equal playing field. More than half the world is still without it; emerging economies and marginalized communities are often the last to gain access. Far fewer women are using the Internet than men. And without diversity among its creators, the Web itself will reflect unconscious biases, while personalizing algorithms can reinforce our own.”

I urge you to find the organizations in your community working to alleviate the “digital divide” and support them today. People of every generation and nation need to be included, and the time to start is now!


A few nonprofits tackling digital inclusion in Central Texas:

 

 

 

 

 

Have Courage, Speak Up

Carolyn’s Nonprofit Blog is focused on nonprofit fundraising and communications. It does not address political issues often if all all, but I feel compelled to do so now.

I am an Independent voter, and I have found friends on both sides of the aisle over the years. I respect the opinions of others, and I hope they respect mine.

Oops! Road Sign

Our nation finds itself at a ethical crossroads. Even as our nation’s economy has begun to improve – a process that began before the current Administration took office – I find it perplexing that we struggle with even greater fervor over equal rights and treatment for all citizens, regardless of race, religion or sexual orientation. Nature – as it does for all species on Earth – makes us diverse. Why do we ignorantly cling to the idea that one human being is less equal than another because of their physical traits or beliefs (within the bounds of law, of course). Why do we fear diversity?

I am chagrined by the relentless attacks on the last remnants of our shared natural resources and wildlife, and by the allocation of immense sums of money on an archaic concept, a wall to keep people from crossing our nation’s shared border with Mexico. I am saddened it is being suggested that the modest 1% of our nation’s massive federal budget normally allocated to critically needed international aid, be cut. I am curious why our nation’s leaders have renewed a commitment to “trickle down economics,” when more than half of all jobs in the United States today are being generated by small businesses (from the ground up).

Last but not least, I am saddened that a speech by our nation’s chief executive before thousands of young Boy Scouts at a national event should include political jabs at prior opponents. Harkening back to my comments about our shared natural resources, the Boy Scout “outdoor code” reads as follows:

“As an American, I will do my best to –

Be clean in my outdoor manners
Be careful with fire
Be considerate in the outdoors, and
Be conservation minded.”

Many have criticized the Boy Scouts of America over the years, and indeed the organization has evolved (that’s a good thing). But keep in mind, many of our nation’s finest leaders were trained within its ranks. The Boy Scout Law requires Scouts to be:

Trustworthy,
Loyal,
Helpful,
Friendly,
Courteous,
Kind,
Obedient,
Cheerful,
Thrifty,
Brave,
Clean,
and Reverent.

We could do more with all of the above.

Let us ask ourselves, do our current national leaders demonstrate these qualities? If they do not, should we make changes? Should we demand more from them? Voter turnout in the United States is lower today than other developed countries. Voter apathy is not the answer to making positive, ethical change.

Villanova University provides an excellent overview of what ethical leadership entails.

“By practicing and demonstrating the use of ethical, honest and unselfish behavior … ethical leaders may begin to earn the respect of their peers. People may be more likely to follow a leader who respects others and shows integrity.”

Stand up and hold our leaders at every level accountable, including our chief executive. We must expect higher standards, and smarter thinking. Be courageous. Do not stand back and just, “take it.” Speak up.

Keep Calm Speak Up

Click to read an article about speaking up in the workplace, by fellow nonprofit executive Jayne Craven. 

 

ONE Campaign and the Electrify Africa Act

Mike and Blaine: One Campaign Petition Delivery

Mike Hogan of the ONE Campaign Texas office and I were pleased to deliver a petition in favor of The Electrify Africa Act to Blaine Fulmer, formerly of U.S. Congressman Michael T. McCaul’s office in Austin a few years ago.

This post was written a few years ago, not long after I returned to Austin. I had become a ONE Campaign volunteer while waiting out the economic downtown in San Antonio. In summer 2013, I returned to Austin to work with a new nonprofit to help ramp-up its major gift fundraising activities.

The Electrify Africa Act of 2015“Helping sub-Saharan Africa increase modern electricity access will save lives, boost education, alleviate extreme poverty and accelerate growth.

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After many years of intense major gift fundraising work with a number of worthy nonprofit projects across the state of Texas, the economic downturn allowed me “quiet time” to return to some of my other life interests. From my grade school days, I was fascinated by Africa and the Middle East. I watched television programs and voraciously read Time Life books my parents had acquired for my sister and I. When I was in high school, my parents took our family on a month-long trip to the Middle East and North Africa, where my interests were deepened even further.

What is ONE Campaign?

“ONE is a campaigning and advocacy organization of more than seven million people around the world taking action to end extreme poverty and preventable disease, particularly in Africa.

We believe the fight against poverty isn’t about charity, but about justice and equality.

Whether lobbying political leaders in world capitals or running cutting-edge grassroots campaigns, ONE pressures governments to do more to fight AIDS and other preventable, treatable diseases in the poorest places on the planet, to empower small-holder farmers, to expand access to energy, and to combat corruption so governments are accountable to their citizens. Cofounded by Bono and other activists, ONE is strictly nonpartisan.”

Why should someone like me support critical needs like electricity for Africa?

First, let me share an insight:

“This notion that we can be an island unto ourselves, I don’t think is realistic in the world we live in … But this notion that we should cut off all foreign aid, when it’s less than 1 percent of the budget and when it’ll isolate us from the world and hurt our national security – I don’t think that makes sense.” –Senator Kelly Ayotte (R-NH), Member of the Senate Armed Services Committee, February 23, 2012

I believe Africa represents the future of our world. It has so much promise on every level! But also, allowing horrible living conditions, dire poverty, disease and ignorance to persist means many issues here at home like national security are negatively impacted. Problems overseas can quickly become our own problems, as we have seen time and time again. With relatively little expense, these international challenges can be alleviated for the benefit of the entire human race.

And as a former member of the Board of IREC: Interstate Renewable Energy Council, I am particularly devoted to clean energy, not only across the United States, but globally.

Did you know:

“In sub-Saharan Africa, more than 620 million people do not have access to electricity. Thirty seven countries in sub-Saharan Africa have a national electrification rate of below 50 percent. These endemic power shortages affect all aspects of life. The President and Congress are working with African leaders, civil society organizations, and the private sector to dramatically change this dire situation. We know energy access is one of the most urgent priorities for people in sub-Saharan Africa with one in five Africans citing infrastructure – including electricity – as their most pressing concern.

The lack of electricity impacts people’s lives in at least five major ways, with a disproportionately negative impact on girls and women.”

An article posted by the World Economic Forum, “Can Africa Lead the Green Energy Revolution” notes:

“Africa’s 900 million people use less energy than Spain’s 47 million. In sub-Saharan Africa, 621 million people have no electricity whatsoever. Each year, 600,000 Africans – half of them children – die from household air pollution, caused by fuelwood and charcoal used for cooking.”

Clearly, the world must support African leaders as they work to improve this dire situation.

When I first went off to college to The University of Texas at Austin in the 1970s, I was fortunate to study African literature with Dr. Bernth Lindfors. You might enjoy reading about Dr. Lindfors in this outstanding online journal, “Life and Letters: The One And Only Bernth Lindfors” (page 6).

When reading African literature, I was inspired by its grace and wisdom. As Nigerian writer Chinua Achebe said,

“Once you allow yourself to identify with the people in a story, then you might begin to see yourself in that story even if on the surface it’s far removed from your situation. This is what I try to tell my students: this is one great thing that literature can do – it can make us identify with situations and people far away.”

That is exactly what African literature did for me. You might consider African authors the next time you are seeking a good book to read.

Please support ONE Campaign and help release millions of Africans from the grip of extreme poverty. It costs you nothing but your voice.

Thank you!

More

  • For a photo portfolio from ACL Fest in 2018, follow this link. I enjoyed volunteering for ONE Campaign for the better part of a day during the popular Austin music festival.
  • In 2018, I undertook a DNA test with Ancestry.com. Our family has long suspected we have African roots on my mother’s side. That turned out to be true with 1% of my DNA being from Mali in West Africa. I was thrilled, and we were glad to have the mystery of our darker skin resolved. Now, I am an even greater advocate for ONE Campaign, and I am exploring that 1% online as often as I can.

Ancestry

  • You might also enjoy reading this Brookings analysis, Foresight Africa: Top Priorities for the Continent in 2019. “Africa is brimming with promise and, in some places, peril. With its array of contributions, this year’s edition reflects both the diversity of the continent and the common threads that bind it together. With that aim, we hope to promote and inform a dialogue that will generate sound practical strategies for achieving shared prosperity across the continent.”