MoneyLion, the US finance app, has launched MoneyLion College in an try and fill a niche in cash schooling across the US.
MoneyLion College (MLU) is launching on the finish of the yr, seeking to handle monetary schooling gaps. To spotlight the problem, the cellular banking app cited the ‘FINRA Basis Nationwide Monetary Functionality Research‘. The research discovered that individuals with increased monetary literacy had been extra prone to ‘make ends meet’. These with lesser monetary literacy struggled extra to benefit from their revenue.
The FINRA Basis’s research discovered that these with extra monetary literacy spent much less of their revenue. Additionally they put aside three months’ price of emergency funds at increased ranges than these with lesser monetary schooling. The brand new initiative goals to show college students how one can make smarter choices with their cash.
The content material is to cowl matters educating MoneyLion buyer’s about budgeting, planning for retirement, gross revenue, constructing credit score, and investing. Starting January 2023, the MLU are releasing long-form and short-form movies on this matter. The MLU can even be holding month-to-month live-stream webinars on MoneyLion’s cellular app to deal with the monetary literacy hole.
MoneyLion has partnered with NFL participant and College of Pennsylvania lecturer, Brandon Copeland. The partnership hopes to carry real-world cash schooling and abilities to shoppers nationwide.
Closing the monetary literacy hole
Dean Brandon Copeland defined his involvement in selling the initiative.
He mentioned: “A part of my life’s mission is to make monetary literacy, private finance and normal cash schooling enjoyable, entertaining and extra accessible. We frequently give attention to stress-related points not contemplating how a few of these stressors are straight associated to our monetary scenario. I need everybody to achieve monetary confidence by taking management of their cash by way of good, intentional choices.”
Copeland continued: “Combining my curriculum with the inventive minds that make the MoneyLion crew particular, we all know we are able to carry the suitable content material and knowledge to thousands and thousands of individuals in methods they’ve by no means seen earlier than.”
Dee Choubey, co-founder and CEO of MoneyLion spoke on the significance of closing the monetary literacy hole. He mentioned: “The monetary literacy hole is a big drawback for college kids nationally and we’re proud to have Dean Copeland be a part of forces with us to assist fill this want.”
“Historically, easy cash abilities and classes aren’t taught in faculties. Via our partnerships and expertise, we’re seeking to fill that hole in a means by no means finished earlier than. Through enjoyable, partaking and informative content material proper at your fingertips.
“Our elevated cellular app feed and launch of MoneyLion College on the finish of this yr is the innovation wanted to assist us ship on this promise. We wish to attain our clients wherever they’re of their monetary journey and supply customized content material in the way in which they need it and the place they need it.”
