FLI to host series of financial literacy events in April

Proposed Senate Bill 5100 would require each institution of higher education, in consultation with the office of Student Financial Assistance, to take reasonable steps to ensure that the institution presents, and each incoming student participates in, a live financial literacy seminar. ​​

Financial Literacy Intelligence (FLI) has taken the next step toward building Western’s Financial Wellness by implementing a program focused on improving the campus population’s knowledge of financial basics. The group focuses on teaching students and community members how to build credit, manage a budget, saving techniques, avoiding default, and navigating the plethora of loan repayment options that are available to them. For more detailed information about FLI, please visit our website at http://www.wwu.edu/financialliteracy/index.shtml.

Educating young adults in these topics has been known to increase retention, decrease default rates, reduce student stress, and build campus comradery. Numerous universities have been successful over the last ten years and FLI feels, with our passion and the proper community support, Western Washington University could be the next forward thinking leader in Financial Wellness for the Pacific Northwest.

FLI presents information in a fun and engaging way while collaborating with other departments to provide the most accurate information straight from the experts. FLI is a student driven program currently comprised of 8 students who have been trained in FLI’s core financial topics and lead by permanent staff. Mary Nichols and Mindi Hackett, who run the program, also sit on the committee for the National Summit of Collegiate Financial Wellness (NSCFW) and have seen a large demand for this knowledge in the short time the program has been running. We have held four events to test student engagement and have found not only a need, but a desire for resources on campus (See enclosed survey results).

Currently FLI is networking with various departments across campus to prepare for Financial Literacy Month in April and plan on conducting weekly events.

  • April 4th, 5th, and 6th FLI will host an informational booth where students and community members can talk with peer coaches about FLI topics and upcoming events.
  • April 12th FLI will host a Carnival where participants will answer a series of questions for the opportunity to play Balloon pop, Feed the pig, Save Penny, Pig Pong, Rope the pig, or spin the prize wheel. Participants can earn tickets for prizes, popcorn, or cotton candy!
  • April 18th, 19th, and 20th FLI will host a spin off on the famous T.V. show Cash Cab where participants will answer questions for a chance to win a ride across campus and FLI dollars which can be redeemed for prizes.
  • April 26th FLI will commence Financial Literacy month with an information fair where WWU departments and local vendors will answer questions and provide Financial Literacy resources.

As of 2015, the State Legislature directed Washington State to implement Financial Literacy in K-12 curriculum based on national standards from the Jump$tart Coalition (See article below).

http://www.seattletimes.com/education-lab/for-the-first-time-financial-literacy-will-be-required-part-of-washingtons-school-curriculum/.

With the changes coming to Washington state, FLI would like to be at the forefront leading students at the university level, but is in need of community support. FLI has set up a crowd funding campaign to assist with obtaining the resources essential to operate FLI to its fullest potential. If you would like to donate please visit www.vikingfunder.com/FLI  Western provides students with degree specific skills and FLI would like to ensure graduates have the financial tools needed to produce financially successful alumni.