DeKalb students receive national recognition for financial literacy

ATLANTA, Ga. (Atlanta News First) - Young men out of DeKalb County have a sharper understanding of money and investments with the guidance of an Atlanta based nonprofit.

Troy Vincent, president-elect of the 100 Black Men DeKalb Chapter, said the group’s financial literacy lessons provide direction and support for young people in the county.

“It’s our responsibility to reach back and help pave the way for these young people,” said Vincent.

Financial literacy lessons for dozens of mentees cover how and why people invest. The lessons help students, primarily teenagers, prepare for their future.

“That’s what we’re looking to do, is to help those young people pass it on to start creating legacy,” said Vincent. “They’re all our kids – any young person. I think you have a responsibility.”

The number of financially literate adults has dropped 19 percent over the past decade, according to research from Zippia, an online recruiting company. Two-thirds of Gen Z say they are not financially literate.

John Pacely, a mentee in the 100 Black Men DeKalb Chapter, recently received recognition for his understanding of money and markets. Pacely finished second place in the national Wells Fargo Junior Investment Program, a simulation with $100,000 in stocks, bonds, and mutual funds.

Pacely acknowledged his knowledge gained from 100 Black Men for his success.

“It’s something we need to give to our children, teach our children, teach our younger selves how to learn,” said Pacely. “How to be financially literate and make decisions that will impact them.”

Pacely’s mother, Simone, said lessons through 100 Black Men refined her son’s basic understanding of lessons taught at home.

“The 100 gives a different perspective giving a different angle on things,” said Simone. “When he wants to have a family, he has to pay for his size 15 shoes, the car he’s going to drive, his house, the wife, the kids. You have to be financially savvy so you can handle all that without being stressed.