Page 40 - Payne Research Center ~ Money Matters

P A Y N E C E N T E R . OR G
Recognizing the significant role families play in shaping their children’s financial understanding, the Financial Well-Being initiative could incorporate strategies to involve them actively. These strategies could include providing workshops or online resources covering key financial concepts, facilitating caregiver-student discussions about financial goals, and offering guidance on supporting responsible financial behaviors. By empowering caregivers, the initiative can create a supportive ecosystem that reinforces learning and extends its impact beyond the individual student. These resources could be tailored to the specific needs and challenges of HBCU families, who may face unique financial circumstances.
Additionally, the initiative could facilitate discussions between students and their families about financial goals, values, and practices. This could help to promote open communication about money and create a supportive environment for students to develop healthy financial habits. Finally, the initiative could provide families with guidance on how to support their students’ responsible financial behaviors, such as encouraging them to save, avoid excessive debt, and make informed spending decisions. By empowering families to become active partners in their students’ financial education, the initiative can create a lasting impact that extends beyond the individual student.
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