Unlocking Financial Literacy: Shaun's Journey and Impact on Quality Education, Economic Growth, and Reduced Inequalities
- Shaun Chan
- Jan 10, 2024
- 3 min read
I am Shaun Chan, deeply committed to unravelling the intricacies of economics and business, with a special focus on the realm of investments. Fueled by an unwavering passion and relentless drive, my mission is to demystify financial complexities and make a lasting impact on the future of finance. Drawing insights from my National Team Triathlon training, I've learned the importance of working smarter, not just harder. I believe in tangible results as a measure of dedication, guiding my academic journey marked by consistent excellence, including making the Honor Roll in Freshman year, participating in Honor classes during Sophomore year, and serving as a teacher assistant for chemistry in junior year. Beyond academics, I lead in Invest ed, Athletico & Sport4Kids, and am set to contribute to my School Senate for Public Relations in my Senior year.
Recently, I've discovered the significance of SDGs and developed a keen interest in three of them. First and foremost, SDG 4, focuses on quality education. I strongly believe in addressing the lack of financial education in high schools, providing a platform to impart practical knowledge and ensuring inclusive and equitable quality education. Moving on to SDG 8, centred around Decent Work and Economic Growth, I am convinced that empowering students with financial knowledge can contribute to sustainable and inclusive economic growth. Lastly, SDG 10, which emphasizes Reduced Inequalities, underscores the importance of providing accessible financial education to bridge knowledge gaps.
SDG 4- Quality Education- Addressing the lack of financial education in high schools, offering a platform to equip practical knowledge ensuring inclusive and equitable quality education
SDG 8- Decent Work and Economic Growth- Empowering students with financial knowledge promoting sustainable & inclusive economic growth
SDG 10- Reduced Inequalities- Providing accessible financial education, addressing the knowledge gap.
I've come to realize that there are still 750 million illiterate adults globally, with a significant majority being females. It's crucial to note that this figure only accounts for adults, excluding the elderly and children who should currently be learning to equip themselves for adulthood.
This staggering number surpasses the entire population of the United States (approximately 331 million), highlighting an educational gap equivalent to 2.5 times the population of America. Additionally, the targeted real GDP falls short by 7%, signalling a need for actions to align economic growth with the desired upward trend. The disparities in income caused by the COVID-19 pandemic further accentuate global inequalities, placing individuals from certain countries at a disadvantage due to reduced income for education. Considering the challenging inflationary state of the world, addressing these disparities becomes imperative for fostering a more equitable and educated global community.
The mission of my project is driven by the pervasive issue of a lack of understanding about how finance operates in the real world. Many individuals are left uninformed as traditional education seldom covers financial literacy, leading to confusion in adulthood regarding concepts like stocks and taxes. This persistent problem underscores the need for change, as no significant efforts have been made to address this knowledge gap. Hence, I aim to establish a platform dedicated to teaching high school students about finance and investing. This initiative aims to benefit those aspiring to pursue financial careers or simply seeking a comprehensive understanding of the financial landscape. Looking forward, I envision this organization evolving into a dynamic platform that garners increased awareness, attracts followers eager to delve deeper into financial education, and forges strategic partnerships, including collaborations with entities like my other club, Invest ed. Furthermore, I aspire to expand the teaching team, fostering a more personalized and customizable learning environment to cater to the unique curiosities of each individual.
The values that frame my project consist of six principles. Firstly, I believe that people should have a good insight to discover and explore the financial world through the wisdom and teachings provided in this project. Secondly, individuals have to nurture the different skills and concepts they learn to use these financial skills at a high level like an expert. Thirdly, I think that people have to value the knowledge they acquire to use it wisely and help maximize their returns. Fourthly, I believe that they should comprehend real-life situations with real-life action to gain more learning from their individual experiences. Fifthly, individuals have to use their experience to form excellent strategies to help them navigate success every time they apply it. Lastly, for people to get the most out of this project, they have to trust the transparent teaching environment.
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