How This Entrepreneur Is Teaching Millenials About Finance
Some people are taught about money when they are quite young. However, the statistics show that financial illiteracy in the U.S. is a pandemic problem. Because the general public isn’t knowledgeable about seemingly simple concepts as compound interest, it is no wonder 75% of Americans would struggle to gather $1,000 in case of an emergency. According to a study from the National Endowment for Financial Education, only 24% of millennials demonstrate basic financial literacy . Funny enough, 69% of participants in the same study gave themselves a “high” self-assessment of financial knowledge.
Tina Hay decided to tackle the problem of financial literacy in millennials and beyond. Hay never thought she would be a FinTech entrepreneur. The Los Angeles-native with a liberal arts background worked in film at Miramax and Paramount before launching her first company, CityTripper. After selling it, she went to Harvard Business School where for the first time she was surrounded by bankers and consultants that knew finance like the back of their hands.