My purpose is to create holistic personal finance learning programs. Here's why--

1. TheExperimental Scholarship
a personal finance training program
DECEMBER 1st, 2019
ThispresentationisthepropertyofMcArdleConsulting
andshouldnotbesharedorreproducedwithoutpermission.

2. How do young people feel
about their personal finances?
Is it a big old mess?

3. What doe you think is the best way
to learn personal finance?
Most individualslearn theirfirstfinance
lessons byobserving their parents.
Theselessons arevital; andthereismoretolearn.

4. Unlike their predecessors,Millennials andGen-Z continue tofaceemerging challenges toachieve financialfreedom. Manycarry
debts in thethousandsandtens ofthousandsuponexiting college creating difficultdecisions thatyoungadultsareoften
unequippedtoanswerwithfull confidence.
Additionally,theseindividuals cannotrelysolely on traditionalsourcesof advice, suchas grandparentsandparents,whohaveno
correspondingexperienceswithextremeeducationaldebt.
UrbanInstitutehasfoundthat53%ofmillennials saythatthey cannotafforda downpayment astothe reasonwhythey
cannotowna home,while 33%say theycannotqualifyfor a mortgage.
Do we need a different approach?

5. According toa2019reportbyMerrill LynchWealthManagementthatsurveyed2,700Americansages18-34,81%of early adult
households carry collective debt ofnearly $2 trillion dollars. This includesstudent-loandebt,credit carddebt,carloansand
mortgages.Much ofthedebtis comprisedofstudentloansandcreditcarddebt.60% ofthe groupsurveyeddefined financial
successas being debtfree.
RuthMcArdleConsultingwill coachyoungprofessionals and
their peers tolearn knowledge andskills to achievefinancialsuccess.
How dowe know?
https://www.cnbc.com/2019/08/30/homeownership-eludes-millions-of-millennials-heres-why.html
https://www.businessinsider.com/millennials-financial-success-debt-free-student-loans-rich-gen-z-2019-4
https://www.pewtrusts.org/en/projects/student-loans

6. Accordingto the 2014Wells Fargo Millennial
Study, adults between theages of 22 – 33
are saddled with debt, which revealed40%
of millennials must pay off loans associated
with credit cards, education ormortgages.
Onlyslightly more than half of millennials surveyedfor the study said they
had started saving for retirement and reported that 50%of their monthly
income goes toward paying loans.
18%
5%
46%
31%
%ofIncome MillennialsAreSavingforRetirement
Morethan 10% None 1–5% 6–10%2014WellsFargoMillennialStudy.HarrisPoll,2014,
pp.1–1,2014WellsFargoMillennialStudy.
Here’s more to consider:

7. Howcan we help? Let’s trysomethingnew.
According totheConsumerFinancialProtectionBureau’slatestresearch(presented November13, 2019),Millennials areone of the
groupsstruggling themostwith personalfinance.
1. Financial Well-being varies widely across Millennials.
2. Financial Well-being is lower among Millennials
than older working-ageadults.
3. Costly money management behaviors (i.e. the useof high cost
methods of borrowing are correlatedwith lower Financial Well-Being.
4. There is a need for more ‘holistic’programs to improve
financialwell-beingamong Millennials.