Young People & our Financial Future..scary? Think again.

Amy Butte
Co-Founder and CEO, TILE Financial

Today at TILE… Identity

Yesterday, I went to a large, global financial literacy summit in DC. It was attended by senior government officials, business people, and thought leaders. While it was inspirational to see so many people caring about financial education, the following thought kept coming to mind:
 
There is a lot of talk about financial literacy, but isn't it time we expand the conversation to include financial identity?
 
Financial literacy is about education and skill set. Obviously that is important. However, just like a traditional education, there's a lot more to it than facts and figures or technical skills. It is what you do with that knowledge or skill set that makes a difference – and that is your identity.  For example, someone may have the skills to paint a picture but it is what they paint (and the characteristics of the composition) that creates the artist’s identity and point of view.
 
At TILE Financial (www.tilefinancial.com), we are creating a community in which the next generation of investors (15 to 25 year olds) is given the tools to build their own unique identity and experience with money.
 
It is not just having money that matters. It is what you do with it, how it impacts who you are, how you live, and what you care about.
 
TILE stands for The Investing Learning Environment.  We believe there are three equally important parts to building a financial identity:  Spending, Growing, and Giving. Today, especially in the aftermath of our financial crisis, there is a legitimate concern that our culture has lost its way as it relates to money. TILE strives to extend the usual talk about tools to conversation around purpose. We are creating the next generation of financial services for teens and young adults.
 
As Mary Lou Aleskie noted in her message to the International Festival of Arts & Ideas, “…we seek understanding and meaning”. We believe now more than ever, young people are eager to learn about finance and create an identity.  We need to help them get there. So, let’s move our dialogue about finance beyond the technical and towards purpose and value.