My recent article shared some lessons from the circuitous route Colorado UpLift took before landing its new campus. Now I want to share how that move is creating an opportunity for me to do something I think all leaders should do — use our passions, experiences, and expertise to help solve problems that plague our communities.
I’ve supported UpLift’s work for years, most recently as chairman of its board, so I’m a big believer in all it does to develop the character and leadership skills of students. It has great programs, but there’s one need I’ve always wanted us to invest into more — training on financial literacy for urban youth.
The new campus gives us the space and resources to do it.
It’s embryonic right now, so we have to work out the details and find the right partners. But I’m gung-ho about the idea, and there’s a reason: My passions, experiences, and expertise are directly related to solving this very big, very real problem.
The way I see it, all leaders should use what we’ve been given to make a positive difference in the world. For you, it might be as a doctor, a coach, an auto mechanic, or a teacher. Maybe you dealt with trauma in your life and can counsel people who are going through something similar. Or maybe you can teach classes about a hobby you enjoy.
More than likely, it’s not just one thing. And you never know when the next thing will knock on your door.
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When this opportunity knocked at my door, I knew I had to invite it in because my personal experiences have made me acutely aware of the need and my professional background helps me understand potential solutions. Here’s the background.
I learned the value of personal finances early in my life. My mother and father never had much money when I was growing up, so they were constantly pinching pennies to keep food on the table and shoes on the six growing feet of their children. We never went without, but they never had much to spare.
I’ll never forget the scene that played out every other week on payroll Fridays. Dad came home, his check cashed, and sat at the kitchen table with Mom for The Great Debate. Back and forth they went, sometimes getting angry as they discussed how much to spend the next two weeks on food, clothing, and other necessities.
After some bruised egos but no bloodshed, they eventually divided the money into small piles that represented the agreed upon expenses. Mom, who had no checkbook, much less a debit or credit card, put the cash into envelopes and when it was gone it was gone.
While that taught me that managing finances is important, I never learned much about how to do it – not from my parents, not when I was in high school, and not when I was in college majoring in accounting and taking classes like calculus and trigonometry. And even though it’s been decades since my childhood in Pittsburgh, I’ve found that high schools and colleges still provide precious little when it comes to personal finances.
Research by groups like the World Economic Forum and EPSCO continually find that only about 50% of adults in the US are financially literate. It’s higher in 13 nations, including several with a financial literacy rate at or around 70%.
A nationwide survey by the National Endowment for Financial Education (NEFE), meanwhile, asked adults to select the six core subjects they thought students should take, and “Mathematics” and “Economics/Personal Finance” were the only subjects selected by at least 75% of the respondents. Another poll by NEFE found that 83% of respondents believe a semester- or year-long course on personal finance should be mandatory for graduation.
UpLift works primarily with urban youth, and many of them come from homes that at best live paycheck-to-paycheck. They often see money as something to spend, not as a tool for creating a better, more stable life. My hope is that we can help equip them with the basics for managing money – for budgeting, saving and investing, not just surviving and spending.
I was fortunate. I saw my parents wrestling with hard decisions about money so that their children could have what they needed, and I learned during a career in high-finance how to better manage my money and grow my savings. That’s why I’m passion about helping others learn these important skills.
What about you? How can you use your passions, experiences, and expertise to solve problems you see around you? If you are a leader, finding the answer to that question is non-negotiable. Because if you truly want to lead, you have to make life better for the world around you.
Up Next on Off the Rak
A World of Good: How Purpose Helps Business Succeed with Carol Cone
As human beings, we crave purpose. Ask any pastor, priest, monk, imam, rabbi, politician, philosopher, or psychologist. We also expect it of our organizations — in today’s transparent world, businesses are expected to stand for more than just profits if they are to attract top talent and influential stakeholders. Carol Cone is a pioneer in cause marketing, widely regarded as the creator of the purpose movement in business. For more than 35 years, she has helped brands integrate social impact into their core strategies, proving that doing good is also good for business. She joins Off the Rak to share her front-row insights into how purpose drives innovation, impact, and success.
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