Elizabethtown has been a pioneer in teaching financial literacy in school. Hardin County took the lead in Frankfort as local legislators created and pushed for financial literacy requirements in state schools. Now another opportunity presents itself and again local people are pushing the issue.
The First48 Financial Education Alliance is a new nonprofit organization seeking ways to further support the integration of financial education into people’s lives.
Alex Todd, financial literacy teacher at Elizabethtown High School, has championed the cause and lobbied for the state legislation. He is the CEO and founder of the alliance, which received official nonprofit designation in April.
The organization’s ultimate goal is unique. It seeks to eliminate the need for itself by getting financial training in front of everyone to improve lives, reduce poverty, develop wealth and share a broad-based affluence through understand of how money can work for you.
“There’s so many people out there that have no financial hope and that bleeds out into other areas of their lives,” Todd said.
Understanding the organization’s name is the first life lesson from the new nonprofit. Todd said if you are working eight-hour days, the first 48 minutes of your work schedule would equal 10 percent of the day. He said people who intentionally can control the money made in that time – or 10 percent of their income off the top – have a great starting point for financial success.
There’s much more to learn but it’s been exciting to see the progression of ideas develop and this one offers a new level of hope.
This editorial represents a consensus of The News-Enterprise editorial board.