On November 17, I took the stage at the 2016 Corporate Citizenship Conference to talk about disrupting financial education. Today, 46 percent of teens don’t know how to create a simple budget and half are unsure of how to use a credit card effectively.
I always thought of myself one of the lucky ones. Luck, it seemed, was the sole determinant for who made it out of my neighborhood. Growing up in Los Angeles in the 1980s, it seemed that violence and poverty were all around me; but still, I got out – one of the lucky ones.
Many of our customers are small storeowners in Peru, who in 2012 were some of the 6 million Peruvians without any access to banking services. They depended on cash flow and risked not having enough cash or stock to weather the economic times, let alone grow.
If doing the right things were as simple as just knowing the right things to do, then everyone would exercise, eat healthy foods, and save money for a rainy day and retirement. But the reality is that human beings are not purely rational actors.
At the U.S. Chamber of Commerce Foundation we believe that financial inclusion is an important prerequisite for economic and social progress. It is indeed alarming that 2 billion people in the world still do not have access to formal financial services.
Kansas City Public Library. Union Station in Denver. Wrigley Square in Chicago. The Pennsylvania Convention Center in Philadelphia. What do all these urban landmarks have in common?
Find out more about the first Partnership Exchange, which took place at the UN headquarters, regarding revitalization of global partnerships.