Founded in 2005, the World Of Money is a New York City-based 501(c)(3) non-profit organization whose mission is to empower youth with a sound financial foundation. Now more than ever this organization is needed to break a generational cycle and to change the way youth, view money by equipping them with five tenets for a financially responsible and philanthropic life: learn, earn, save, invest and donate. Having these basic financial planning tools encourages youth to become family team players, maximize their longer-term financial well being and to balance consumer and investor behaviors.
Thirteen years later World of Money has strengthened the commitment to providing children, as well as families, day-to-day tools for enhancing their financial literacy and to give them a prosperity mindset and a head start in life. Since our inception, more than 3,000 youth, ages 7 – 18, and have been provided with the needed financial foundation to break a generational cycle of poverty and to change the way youth view money by equipping them with the tenets for a financially responsible and philanthropic life: learn, earn, invest and donate.
Over the years the organization has honored such individuals as Rev. Al Sharpton, “The Wire” stars Jamie Hector and Michael K. Williams ; Carl Banks, (New York Giants), director Warrington Hudlin, casting director Twinkie Byrd, author/publicist Terrie Williams as well as a plethora of individuals from the world of finance. At a recent gala held in NYC, FUBU co-founder Jay Alexander took the opportunity to inspire the audience which consisted of youth entrepreneurs and a healthy mix of industry professionals with stories of his humble beginnings, including stories of having learned his entrepreneurial skill set from his relatives.
Following the event, Blende Magazine went one on one with World Of Money’s Founder and CEO Sabrina Lamb who gave more insight on the purpose of the World Of Money.
Blende: How does it feel to have made a difference in so many students' lives since 2005?
Sabrina Lamb: I feel confident that I know my purpose in life: to empower young children with financial and entrepreneurial education so they can live a life of financial security and philanthropy. And so they can navigate and understand the language with the corridors of power.
Blende: What are some of the examples of the appreciation you have received from some of these children?
A: Our students learn that expressing gratitude ignites opportunities in their lives. Students regularly send thank you cards. Also, our students have become ambassadors for the organization. When they encourage their friends to attend our Institute, their advocacy is a powerful form of gratitude.
Blende: How difficult is it to get the support of VIP's and celebrities to participate in financial literacy programs?
It depends on the VIP and their professional commitments and whether they understand the urgency of financial education.
Blende: How have the celebrities enjoyed participating in the program?
A: “Good Morning America’s” Michael Strahan generously took time out of his schedule and spent a few hours observing our Institute and engaging with our students.
Blende: Describe the importance of financial literacy at an early age as we enter 2018?
A: According to the OECD, America’s youth rank 17th among developed nations in financial education. The lack of financial knowledge contributes to the generational wealth gap, especially in under-served communities, and will not improve on its own. The lack of financial education may lead to poor health, emotional anxiety, decreased quality of life, generational financial product victimization and lower college attainment levels. Thus, it is important that financial education be instilled at a young age before negative financial beliefs and behaviors begin.
Blende: What are some of the short term and long-terms goals of World of Money?
A: Our students are currently being guided through a six-month online stock pick course. Our goals include encouraging everyone to download the WorldofMoney App, now available on the Google and Apple app platforms. The videos are taught by youth for youth! Online registration for our 2018 Youth Financial Education Training Institute is available on our website. We welcome attracting the resources to support our 26 national and global partners.
SABRINA LAMB, FOUNDER/CEO WOM
WOM’s CEO Sabrina Lamb and Jay Alexander with Dwayne Ashley, CEO of Bridge Philanthropic Consulting (BPC); Steve Manning, Senior VP of BPC and model/fashion designer Alvertis Alve Alexander.