F&M Bank launches financial education program for high schoolers

     This marks F&M Bank’s 11^th year in providing the FinLit (financial literacy) program for students in grades 9-12. The course has been made available through F&M Bank’s relationship with Impact-as-a-Service education innovator, EVERFI, Inc.

   FinLit teaches high school students how to make smart financial choices that promote financial well-being over their lifetime. The program features an interactive learning platform designed specifically to translate complex financial concepts like understanding a pay stub or completing the FAFSA (Free Application for Federal Student Aid) form and introduces the basic financial literacy skills needed as high school students transition into adulthood. According to Northwestern Mutual, 69 percent of teens say they don’t have a clear understanding of how much they should spend versus how much they should save for long-term goals.

   “We are appreciative of F&M Bank for sponsoring EverFi Financial Literacy for Monticello High School,” said MHS Social Studies Teacher Phil Gilkerson. “Financial literacy is part of the state requirement to earn a high school diploma and we use EverFi in our required Economic class to help students gain a better understanding of basic financial knowledge they will need for the rest of their lives. F&M Bank has been a wonderful sponsor of this program for our district, and we are excited to continue partnering with them going forward.”

   Through a series of interactive lessons, FinLit helps students develop actionable strategies for managing their finances. The robust course library covers a number of topic areas, including income and employment, budgeting, credit and debit cards, and financing higher education. The seven-module course immerses students in real-life financial scenarios and allows them to move at their own pace through the lessons, providing bite-sized instructional animations that make the topics approachable and relatable.

   “Understanding your finances and making sound financial decisions is key to a strong future, but many people don’t know where to turn to get the information they need in a way that is age-appropriate and easily understandable,” said EVERFI Co-founder and President Ray Martinez. “By laying the foundation for financial literacy at a pivotal age, students will be prepared with the skills needed to enter into the new economy and make a smooth transition into adulthood.”

   The platform offers detailed data and reporting by allowing teachers to uniquely track the progress and performance of every student and see real-time data on student performance, while the technology aggregates crucial data on hours of learning completed and knowledge gains.