CEE CEO Nan J. Morrison
On April 2nd, to kick off Financial Literacy Month, CEE held a breakfast at the New York Stock Exchange, “Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers”. Following welcome remarks by Steve Wheeler, Director, Archives, Corporate Giving and Education at the NYSE, Ron Lieber of The New York Times moderated a panel discussion that covered a range of topics and questions, from whether students in New York are receiving the financial literacy education they need, to how government, corporation, non-profits and schools can work together to build financial literacy among students.
With unique perspectives from the government, private and academic sector, panelists Jonathan Mintz, Commissioner, NYC Department of Consumer Affairs, Gerald Rosenfeld, Chairman, Lazard, Ltd., and Dr. Michael Staten, Assistant Dean for Careers, Commerce and Industry, Norton School of Family and Consumer Sciences, The University of Arizona, and Director, Take Change America Institute had a thoughtful–and lively!–discussion.
One of the morning’s dominant themes was the need to teach students how to make smart decisions:
“The key to any good educational model is how you make the tough choices,” said Mintz, adding that it was critical to make students feel confident enough to ask the right questions.
Staten seconded that notion, noting that the financial educational sector has “stepped up its game” in this department: “There has been a shift toward recognizing that personal finance is all about making decisions. Economics lays the foundations for these decisions, training [students] to make the decisions that are best for them.”
Rosenfeld raised another important point, noting the importance of providing students with the necessary vocabulary to navigate the financial and economic landscape. Which means more than simply teaching the terms, but truly understanding a concept like “risk,” or “debt.”
In her closing remarks, CEE CEO and President Nan J. Morrison offered a nice summation of the panel discussion, asserting that financial literacy “is a language that people need to learn; and that language is a language of choice.”
Panelists Gerald Rosenfeld, Jonathan Mintz and Dr. Michael Staten
Attendees touring the NYSE
All photos by Ben Hider Photography.