100x Group Partners with JA Worldwide to Improve Youth Financial Literacy
September 11, 2020
Today, 100x Group and JA Worldwide announced a partnership to improve financial literacy among young people. With a donation of USD 1 million, 100x Group will support JA Worldwide’s financial-literacy programs for youth ranging in age from 5 to 25.
Financial literacy among young people is one of the world’s most pressing issues today, extending throughout one’s lifetime. People with low financial literacy tend to borrow more at higher costs, resulting in lower wealth and fewer opportunities. At the same time, without a cushion of savings, economic downturns and unexpected global situations—both of which the last year has brought—can be devastating.
100x Group believes it is imperative for young people to understand basic finances and advance to master more complex financial options and products, so that they can make sound financial decisions for a better future in an increasingly complex world. For 100 years, JA has focused on financial literacy as one of our key pillars, along with work readiness and entrepreneurship, making this partnership a natural fit. Through the partnership, 100x Group aims to help JA achieve our vision of giving all two billion of today’s global youth the opportunity to develop real-world financial skills through hands-on learning experiences.
“Across the world, financial literacy among young people has taken a nosedive despite great leaps in technology and education. It’s a worrying trend, and we’re determined to help change this and give young people the skills and inspiration to achieve financial success as they are our hope for the future,” said David Wong, Chairman of the 100x Group. “JA Worldwide has established an impressive network spanning six continents and serving over 12 million students. Together we have the opportunity to help shape the future of finance by equipping more people with much-needed financial knowledge and access to the right financial services.”
100x Group’s funding will enable JA Worldwide to invest further in global programs to
Educate students on the fundamental elements of personal finance
Build strong personal financial habits and explore career options based on skills, interests, and values.
Help students learn to earn, spend, save, give, and fund their dreams.
Brandie Conforti, Global Chief Development Officer at JA Worldwide, said, “We’re delighted to partner with 100x Group. The Group’s vision to enable people to exercise control over their finances is aligned with our goal of empowering young people with the financial skills they need to succeed in an increasingly uncertain world. Together, 100X Group and JA Worldwide will help make JA’s financial-literacy programs available to more of the youth who will benefit from it.”