While attending a financial education forum, well-known media commentator and former stand-up comedian Sabrina Lamb wondered how different her life would have been if she’d received financial education as a child—something she believes is still lacking sorely today, particularly in lower-income communities.
Lamb—who is the recipient of the BDPA Small Business Innovator Award, the Rainbow Push/Wall Street Project Honors and the New York State Z-Hope Award, among others—believes that children would benefit immensely from financial education at a young age, so she set up New York-based World of Money in 2005 to provide the same access for children that many adults never had.
The non-profit organization’s mission is to empower youth with a sound financial foundation by equipping them with the five tenets of a financially responsible and philanthropic life: learn, earn, save, invest and donate.
Lamb answered a few questions about worldofmoney.org and her own views on the importance of financial education for youth.
Q: Your homepage states that “now more than ever this organization is needed to break a generational cycle and to change the way youth view money.” Can you explain this in a bit more detail?
A: In order to break the generational cycle of how individuals may manage money, youth and their parents need to examine their beliefs and behaviors while harnessing one of the most powerful entities on the planet—money. Our work hopes to move youth behaviors from shifting hoarding and greed to producing, investing and donating to create value in the world.