Educational institutions—from secondary all the way to higher education—have recognized the importance of teaching financial literacy. While learning how to perform a monthly budget is important, Audie Wood, founder of the organization Empowering Education, recognizes the need to equip students with the knowledge of the social, emotional, and environmental factors that influence money management.

“My background is not personal finance; my background is sociology. So, my classes are designed to do more than just teach kids how to manage their money. They are meant to teach them what affects their money, whether it be career choices, their mental health, where they live, or life circumstances such having to take on adult roles in the household,” Wood says.

Wood, a former sociology professor at Western Kentucky University, began Empowering Education by teaming up with the Kentucky Department of Juvenile Justice, which approved a pilot program aimed at youth involved in the juvenile court system. The results were immediate and transformative, and Wood has now taken his organization to Baltimore. He says that he aims to connect personal finance to real-life experiences to equip students with the knowledge and critical thinking skills needed to make informed choices and build long-term stability. “Our slogan is ‘Empowering your path.’ We don’t tell kids what is best for them—we help them find their skill set and the right path for them.”

Classes that fit your schedule

Wood says that the virtual classes will begin on February 2 and will be asynchronous with pre-recorded lectures and reading assignments. A teacher will meet one-on-one with each student every two weeks for 30 minutes, too.

“The term will be eight weeks with one module a week assigned on Monday that is due on Sunday. So, it’s on their own pace, but it still forces the student to develop a sense of time management, which is a transferable skill into the workplace,” says Wood, who adds that target age range is 14 to 20.

Written skills are an essential component, Wood stresses.

“Teaching students how to communicate properly and how to write well is important because no matter what field you go into you need to learn how to email, text, or write reports in a coherent fashion.”

One financial area that Wood focuses on is credit. “I don’t look at credit as an evil entity but rather a tool that—if used properly—is important. Building credit helps when you rent an apartment or get a new cell phone, for example. We teach students to start with a credit card with a low limit—$300-$400, for example.”

Making connections

Empowering Education also helps students succeed by connecting them to resources that allow them to apply the lessons they’ve learned in the class to their life. For example, for every student who earns an A in the class, Empowering Education will open up a Northwestern Mutual fund for them so they can begin to invest.

“We also connect them to career coaches, jobs resources, job recruiters, community colleges, and trade schools,” he notes.

The classes will utilize A.I. where students will have a conversation through text message or through chat on the platform Blackboard with an A.I. bot that will be asking them questions and simulating a job interview so that they can develop interviewing skills.

Empowering Education is a partner with Monumental Sports, which owns the Washington Capitals, Washington Wizards, and the Washington Mystics, to provide internship opportunities and is looking to partner with several Baltimore businesses, organizations, non-profits, churches, and local school systems.

Making a difference, one student at a time

When thinking about how he hopes Empowering Education can make an impact in Baltimore, Wood uses the quote, “A rising tide lifts all boats.”

“Baltimore is a wonderful city with amazing people. Many are denied resources and can get stuck in generational poverty, and we are not going to change the city overnight. However, if can give one student the tools, resources, and knowledge, we may be able to guide him or her in the right direction.”

For more information visit Empowering Education online. Parents can contact the organization and schedule a phone call or Zoom call to learn more about what the organization offers.