Personal finance is rarely a learning requirement in United States schools, leaving America’s young adults to fend for themselves in the great big world of finance.
But 21-year-old TikTok influencer Taylor Price has made it her goal to educate Gen Z on how to be smart and responsible with money from a young age. Price told "Cavuto: Coast to Coast" on Wednesday that only six out of 50 states in the U.S. require personal finance courses for testing, influencing her to launch financial literacy platform Fifecta.
"[It’s] being built to enable the younger generation to learn about financial literacy, to get into financial planning services and even wealth management," she said.
The college student explained that she switched career paths after learning how being financially literate can "change your life."
"When I didn’t even know how to budget, I didn’t know what credit cards were, I didn’t want to be working like my parents or even my grandparents until this day," she said. "I wanted to learn how to retire and have that financial security."
Price’s TikTok videos have highlighted the benefits of investing money in the stock market and Roth IRAs, as well as how to save money on Amazon. She credited the success of her videos to her looking and acting "normal" and "approachable" on screen.
The social media celeb recited Albert Einstein’s proposition that compound interest is the "eighth wonder of the world" and emphasized the desire to explore financial options to achieve the freedoms that many Gen Z-ers see online.
"When you’re talking about investing versus saving, especially when you’re young -- and even talking about inflation rates at least nowadays – just figuring out investing, we get to realize like, wow, we’re making money technically when we sleep," she said.