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UCI aims to teach teens money management skills

The Center for Investment and Wealth Management hosts a Financial Literary program.

By Karly BarkerPublished: August 18, 2011 11:53 AM

UC Irvine’s Paul Merage School of Business and the Center for Investment and Wealth Management (CIWM) are hosting a weeklong Financial Literacy program to teach eighth and ninth grade female students how to manage money. The center’s goal is to teach basic financial and budgeting life skills, as well as to encourage them to attend a four-year university.

“It’s important to understand that women control 60 percent of private, personal wealth in America,” said Mark Moehlman, founding chair of the Center for Investment & Wealth Management. “What’s surprising is that to this day students receive no formal training in money management. In fact, many of those we’re targeting with this new camp will be the first in their families to go to college.”

Thirty students are attending the event, which was paid for by fundraisers. All of the students come from low-income homes and are outstanding students who contribute to the community, according to representatives from the University.

“Our goal is to have an inaugural class of 30 students from Los Angeles, Orange and Riverside counties. The ideal candidate will have a minimum 3.0 GPA and have indicated some desire to attend college,” said Moehlman. “We’re starting with girls only. But our intent is to expand the program to include both boys and girls who can benefit from learning how to manage their money.”

In addition to class work, local businesses such as Taco Bell, PIMCO, Experian and Boeing will present educational information.

“The primary purpose of our program is to provide a foundation of financial knowledge while at the same time creating an enjoyable summer camp,” said Melissa Beck, CIWM executive director Melissa Beck. “We want these girls to come away feeling excited about their experience, empowered by what they’ve learned and hopeful for the future.”

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