I grew up in Manila in a family of six children and I remember having to make sure we were all seated at the dining table by 6:00 pm every night where my father, who was a CPA/attorney, and my mother made sure that we talked about saving money and not borrowing more than we can afford. Data shows that many families don’t have these same conversations and generationally, financial literacy is lacking in most Americans. Increasing financial literacy in our youth has been a passion of mine for many years.
As Chair of the Housing Opportunity Committee this year and together with our Vice-Chair Sarah Ware, Community Outreach Liaison Mary Dykstra, and our wonderful NAR Staff Executive, Wendy Penn, we proposed to our Committee to recommend to NAR leadership a policy statement regarding supporting financial literacy for youth. Our 85+ member Housing Opportunity Committee was unanimous in putting this before the Board of Directors for a vote. It was so heartwarming to see how so many REALTORS® share this passion with me.
Tomorrow morning, at the Board of Directors meeting, the following will be put to a vote:
It has been moved for NAR to support the goals outlined in Promoting Financial Success in the United States: National Strategy for Financial Literacy to increase financial literacy to empower school-aged children and young adults to build financial knowledge, skills, and habits that will help them make sound financial decisions and prepare them for homeownership in the future. NAR encourages its associations to work with providers of financial education along with partners such as schools and community organizations to support evidence-based and age appropriate activities.
It’s exciting to see if the rest of the leadership at NAR share the same passion for this important issue. Together with NAR, REALTORS® can make a tremendous impact on our youth and their financial success. This is going to help make our future just a little bit better. REALTORS® help build better and stronger communities!