Connect with us

Tennessee

Too many Tennesseans are struggling. Businesses can step up by teaching financial literacy

Published

on

Too many Tennesseans are struggling. Businesses can step up by teaching financial literacy



Business as usual won’t address the financial challenges facing Tennesseans. Collaboration is key.

play

In terms of economic growth, Nashville is growing incredibly wealthy. Veritable gallons of ink have been expended touting the fact that our city is one of the nation’s leading metro areas when it comes to a post-pandemic recovery – and it should be. We should be proud of this accomplishment.

That said, we can’t allow this victory to cloud our vision when it comes to confronting the reality of the hardships felt by folks across our city and state each day that prevent them likewise growing in wealth.

Owning a home is one of the greatest, time-tested ways for families to build wealth. However, homeownership in Tennessee has decreased by more than 5% over the course of the last 24 years – one of the most drastic declines nationwide.

Debt load can harm credit scores and make it harder to pursue the American Dream

Further compounding the issue is debt. According to a recent study from ThinkTennessee, Tennesseans hold more than $50,000 in household debt. While this is slightly lower than the national average, more than one out of every four young adults in Tennessee have debt in collection, higher than the national average of 20%. Among Tennessee’s communities of color, the issue is even worse, with 38% in debt delinquency compared to 25% nationally according to the Urban Institute.

Advertisement

Debt in collection means missed payments and damaged credit scores, making it harder and more expensive to borrow money for crucial things such as a car, a house, or education, potentially trapping people in an inescapable cycle of debt.

Underscoring all these issues is the fact that our state ranks almost dead-last nationally for understanding the core concepts of money management (48th) and in the lower third for overall financial literacy (38th), making it one of the least financially literate states, according to WalletHub.

More: Tennessee among top U.S. states with people in financial distress, study says. Here’s what that means.

Business as usual won’t address the financial challenges facing Tennesseans. Collaboration is key. United Community is committed to working hand-in-hand with community groups to ensure every Tennessean has access to the financial education and tools they need to thrive. This starts with equipping them with the knowledge to manage money effectively, a mission we take very seriously.

Advertisement

How gamification can help kids become more financially literate

To help head off issues at an early age, United Community has partnered with Greenlight, a free service that uses gamification to make financial literacy fun for kids. This innovative approach equips young Tennesseans with essential money management skills and teaches valuable lessons about saving, spending, and earning through real-world applications like chores and allowances.

Here in Middle Tennessee, our dedication goes beyond just offering financial services and education; our bankers provide financial support and volunteer with organizations such as Habitat for Humanity, which builds strength, stability and self-reliance in partnership with families in need of decent and affordable housing. In addition to helping build Habitat homes, our bankers help provide the financial education that is part of the necessary foundation for success for new homeowners.

We are committed to creating better opportunities for everyone to achieve their financial goals. Financial education is a huge piece of that equation. But our efforts alone aren’t enough.

We need others to join us in this mission to elevate financial education literacy across Tennessee. Together, let’s make financial education a cornerstone of our state’s prosperity. The stakes have never been higher, but with collective effort and commitment, we can build a brighter, more financially secure future for all Tennesseans.

Advertisement

Kelley Kee is the Tennessee state president for United Community and has more than 30 years of banking experience in the greater Nashville area. 



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tennessee

I-40 East in Wilson Co. reopens after crash

Published

on

I-40 East in Wilson Co. reopens after crash


NASHVILLE, Tenn. (WSMV) – One person was critically injured in a crash on Interstate 40 East near the Wilson County line, Mount Juliet Police confirmed.

The crash occurred near mile marker 223 just after 10:30 p.m. Eastbound traffic was backed up past Old Hickory Boulevard in Hermitage.

All lanes were reopened shortly after midnight.

Advertisement

The Tennessee Highway Patrol is investigating the crash.





Source link

Continue Reading

Tennessee

New program trains Tennessee high school students for high-paying jobs building cars of the future

Published

on

New program trains Tennessee high school students for high-paying jobs building cars of the future


NASHVILLE, Tenn. (WKRN) — The car industry is facing big changes: longtime workers are retiring, younger workers are not going into the industry, and the technology is shifting to robotics. But, a new program that launched this month in Tennessee is looking to high schools to find the next generation of car makers.

The Nissan plant in Franklin County opened in 1997, but making cars in 2024 looks a little different.

“Manufacturing isn’t what it was 20, 30 years ago,” said Matthew Overbay, Director of Manufacturing, Strategy and Planning at Nissan North America.

Overbay said that today’s assembly floor is very much based on computers and robotics.

Advertisement

📧 Have breaking news come to you: Subscribe to News 2 email alerts

“Now, it’s not the individual shooting a bolt, it’s the individual maintaining a robot, making sure that it’s running properly, and being able to diagnose any of the issues that might come from the manufacturing process,” said Overbay.

Enter a whole new type of education. They are called the Centers of Excellence. These are high school programs launched for the very first time this month in four Tennessee school districts – Franklin, Grundy, Tullahoma, and Warren County.

From safety, measuring, automation, and coding, students are earning accreditations to one day work on a car assembly floor of the future while they are still in high school.

“You will go from English, math, history, whatever it might be over into this classroom where you’ll sit and it does have the tools, equipment, and instructors most importantly that will be able to support your growth in the overall advance manufacturing train,” said Overbay. “It is very laser-focused on advanced manufacturing.”

Advertisement

And who will be teaching these students? They were very carefully chosen current Nissan workers with years of experience building cars.

“That was a key piece of the overall Centers of Excellence, making sure that we can put our Nissan technicians into those classrooms to support the growth of those students,” said Overbay.

The hand-picked teachers spent their summer working with Eric Oslund’s education department at MTSU learning how to be teachers.

“To have an outside company as big as Nissan approach us and ask us to train their employees to be teachers was a first,” said Oslund, professor and chair of Elementary and Special Education at MTSU.

⏩ Read today’s top stories on wkrn.com

Advertisement

“They absolutely chose great people, and they will be difference makers. MTSU is proud to make difference makers and I have no doubt that they will be successful,” said Oslund.

And if they are, these Centers of Excellence could be a model for training Tennessee’s workforce statewide.

It took several groups to create these Centers of Excellence – Nissan, MTSU, the Board of Regents, the high schools, and TCAT programs.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to WKRN News 2.

Advertisement



Source link

Continue Reading

Tennessee

Titan WR Eying Opportunity After Injury

Published

on

Titan WR Eying Opportunity After Injury


The Tennessee Titans have one of the best wide receiver rooms in the NFL with DeAndre Hopkins, Calvin Ridley and Tyler Boyd.

But there’s depth behind the top trio as well. Treylon Burks has shined as a former first-round pick, but there’s a sleeper in Nick Westbrook-Ikhine, who could seize the opportunity as Hopkins is sidelined with a knee strain.

“We decided we wanted to [bring him back] because of what he’s done. I have a lot of respect for his journey. He’s had to earn it the hard way all the way through. Every year he’s played, he continues to show up and be reliable. That’s a really big part of playing receiver, it’s being where you’re supposed to be and being able to make plays. He’s a fantastic person. He’s on top of all the details and never has mental errors. He’s reliable when the ball comes his way. The more plays he makes, the more opportunities he’ll get. It’s been really nice having him in our room. He provides leadership and a veteran presence. It’s been good to have him as a compliment,” coach Brian Callahan said.

Westbrook-Ikhine, 27, had 28 catches for 370 yards and three touchdowns last season. He’s played a complementary role in the Titans offense since he went undrafted in 2020, but now that Tennessee is transitioning towards more of a pass-heavy scheme, he has more of an opportunity to showcase his stuff.

Advertisement

Of course, he’ll have to earn reps with a lot of competition ahead of him on the depth chart, but it’s clear that the Titans really like him and will try their best to find opportunities for him to contribute.

Westbrook-Ikhine will get a chance to have some action in tomorrow’s preseason contest against the San Francisco 49ers. Kickoff is scheduled for 6 p.m. CT.

Make sure you bookmark Tennessee Titans on SI for the latest news, exclusive interviews, film breakdowns and so much more!



Source link

Advertisement
Continue Reading

Trending