Financial Regulation 101 by Kaylee

Financial Regulation 101 by Kaylee - June 2025 Scholarship Essay

Financial literacy isn’t just about money—it’s about making choices that can lead to a more secure and fulfilling life. If I had to choose something to be a required class, it has to be financial literacy. Financial literacy is important because it empowers individuals to make informed and effective decisions with their money. As someone who constantly watches my own mom drown in credit card debt and drown in two jobs to combat debt, there needs to be a required class to prevent this. A financial literacy class can teach you how to budget, save, and manage debt effectively. It can teach how interest, credit cards, and loans work which helps avoid high-interest debt and harmful financial products. Multiple studies report that the average American lacks basic financial literacy which is a huge problem that is often overlooked. There needs to be a class that enables better planning for major life goals like buying a home, retirement, or EDUCATION. There needs to be a class that encourages investing and building wealth over time. Financially literate people are more likely to achieve stability and independence. As a Hispanic woman who was raised in a low-income family, learning about financial literacy and financial regulation is pushing me to break the generational curse of debt. The community deserves a chance to do so too.