TDCI Securities Division Announces Participation in the EVERFI Financial Literacy Bee to Support Youth Financial Education

Financial Literacy Month Student Challenge Equips Young People with Money Management Skills and Supports Remote Learning
Friday, March 26, 2021 | 08:51am

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division today announced that it is sponsoring the EVERFI Financial Literacy Bee, taking place April 1-15, 2021. The EVERFI Financial Literacy Bee is a nationwide financial literacy challenge for high school students.

As many families across the country are struggling financially in the wake of the pandemic, from unemployment to career shifts to a reduction in income, the EVERFI Financial Literacy Bee provides an opportunity for students to learn the critical importance of saving and budgeting for short-term and long-term financial goals.

“In these times of financial uncertainty for many Americans, the Tennessee Department of Commerce & Insurance is especially committed to engaging our communities, increasing financial literacy and driving impactful change,” said TDCI Commissioner Carter Lawrence. “We are proud to be supporting parents and students through the Financial Literacy Bee and we hope this opportunity will encourage family conversations about important financial topics and positive financial habits.”

The virtual challenge features four short digital lessons followed by a capstone essay contest in which students share a short-term or long-term savings goal and outline their plan to achieve that goal. Winners of the EVERFI Financial Literacy Bee will receive a total of $20,000 in college scholarships.

“The pandemic shined a bright light on the financial vulnerability of most Americans with 40 percent of American consumers reporting that they had trouble paying at least one bill or expense in 2020,” said Ray Martinez, co-founder and president, EVERFI. “We’ve always been committed to helping students increase their financial literacy and during this historic time we are also working to help parents feel more comfortable having dinner-table conversations about money. The Financial Literacy Bee is a fun way for students to learn important strategies to increase savings.”

By competing in the challenge, participating students will gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future. Topics include how to save, set financial goals, budget and invest.

“Investor education is an important focus for the Securities Division,” said Assistant Commissioner Elizabeth Bowling. “Not only do we want Tennessee students to have opportunities for aid with continued education expenses, we want to educate them on the importance of investing early and investing wisely. The pandemic has shown us that it’s important to be prepared for the unexpected and strong financial habits started at an early age are key for a solid financial foundation in the future.”

To learn more about the EVERFI Financial Literacy Bee visit our website.