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Financial Literacy 2017

Financial Literacy 2017

Financial Literacy

HBE first launched its Financial Literacy initiative in the summer of 2015. Our goal was to have an impact in the community by using the skills that we use every day in our accounting and wealth management practice to help teach others in our community. After some consideration on the focus of our program, HBE realized the strong need for education on financial topics and planning for high school and college aged students. Out of that focus grew a presentation focusing on these core topics:

Understanding Paychecks

  • Analyzing a paycheck to understand how the deductions work and why the amount you actually get paid is less than the amount you earned.

Savings Tips & Tricks

  • Understanding how compound interest works and why it is important to start saving at an early age.
  • Provide tips to make saving easier.
  • Take a look at the time value of money and inflation.

Tax Returns

  • How much income do you need to file a tax return?
  • How to properly fill out the W-4 when you do not earn a lot of income.

Budgeting

  • Understanding why budgeting is important.
  • Some tricks for starting to budget.

College Planning

  • How to effectively combine different financing sources to pay for college.
  • Understanding why scholarships and working in college are critical.
  • Understanding how student loans work and what you can do to keep manageable.

Over the past year, HBE has been fortunate to build a partnership with the TeamMates mentoring program to help get our resources into numerous Nebraska communities, including Lincoln, Norfolk, and Omaha. HBE has been giving Academy Sessions to TeamMates mentors to help give them the resources to talk to their mentees about financial literacy and financial planning. We have also developed a game that can be played with younger students to help them understand why budgeting is an important process.

HBE also gives the presentation to various groups of high school students, whether through larger gatherings or in classes at individual high schools. With the focus on our presentation of building a strong financial picture and planning for college effectively, we are able to help students start thinking about a financial plan before they might otherwise start planning. We have been lucky to have a reach to a large variety of different students to help give them an idea about what it means to have a financial plan.

We are proud of this program to help teach financial literacy and planning to students in our communities. If you are interested in having HBE present to a group of students, please feel free to reach out to Brian Klintworth at bklintworth@hbecpa.com. HBE would love to consider a presentation.