Financial Literacy

Program Description

With the bothersome increase in debt, personal bankruptcies, and inability to retire among Americans, financial literacy becomes quintessential knowledge citizens must possess to embrace the future.

Our Financial Literacy program consists of general personal finance theory matched with hands-on practice and constant followup with students in order to build in them the proper financial habits.

The program is conducted by coaches who have a track of record of professional success matched with a community service drive.

Successful students will have achieved the following:

  • Thorough understanding of the different personal budgeting methods and application of the budgeting method of their preference.
  • Implementation of a debt stacking program to eliminate commercial debt.
  • Composition and legal verification of a will.
  • Understanding insurance and defining their insurance needs.
  • Execution of an emergency funding accumulation plan.
  • General understanding of retirement and children’s college funding.

Syllabus

The Financial Literacy course will be divided into the following phases: 

  • Phase 1
    • Introduction to financial literacy.
    • Wrong conventional wisdom about money.
    • Introduction to budgeting and different methods (i.e. envelope system, paper budget, app-based budget, spreadsheet-based budget).
    • Understanding the Rule of 72.
    • Test 1: writing one’s budget.
    • Intro to estate planning and wills.
    • Understanding the repercussions of not having a will.
    • Test 2: Drafting the wishes to be included in a will.
    • Phase milestone quiz.
  • Phase 2
    • Understanding emergency funding.
    • Test 1: Implementing an emergency funding plan to reach 3 to 6 months of expenses as reserves.
    • Introduction to insurance.
    • Explaining term life insurance vs. whole life insurance.
    • Test 2: Specifying student’s insurance needs.
    • Phase milestone quiz.
  • Phase 3
    • Overview of retirement.
    • Overview of children’s college funding.
    • Test 1: Determining required retirement contributions to reach retirement goals.
    • Test 2: Determining required college funding contributions to fully fund one’s child’s college education.
    • Phase milestone quiz.

Instructor: Yassine Elkaryani, MBA

Yassine Elkaryani is a VP at Elk & Co., a family financial coaching and marketing company in addition to being the Managing Partner of Mercytech Consulting, and information systems and infrastructure provider.

In addition to his professional life, Mr. Elkaryani provides free personal finance workshops for immigrant communities and holds advisory positions with his city government along with his involvement with various community NGOs as a trustee, a contributor, and a volunteer.

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