(October 20, 2004, Indianapolis, IN) — David Godsted, director of outreach at Networks Financial Institute (NFI) will host a candid conversation about managing money with fathers and their children on Thursday, November 4, from 5:00 p.m. to 8:00 p.m. at the Children’s Museum of Indianapolis. Presented in partnership with the Central Indiana Fatherhood Network, this Father’s Night Out event will provide insight and tips into teaching personal finance to children. Dads and their children are encouraged to participate in fun activities that convey personal finance concepts.
Research indicates that while an urgent need for personal finance information exists, few youth feel that their parents are discussing this information with them. A recent study found that almost half of all parents say they don’t set a good example when it comes to handling their own money and don’t believe they are capable of properly teaching their children about money. Another study conducted by Jump$tart Coalition found that only 26% of 13 to 21-year-olds reported that their parents actively taught them how to manage money. “Our nation and State are struggling with high home foreclosure rates, decreasing savings and escalating credit card debt. Education regarding personal finance is a critical factor in breaking the cycle of debt and encouraging responsible money habits. Parents fill a unique and critical role in imparting messages about financial literacy,” said Godsted.
Prior to joining NFI in summer 2004, Godsted served as the executive director of New Mexico Coalition for Literacy and as director of courses for the Yemen-America Language Institute. He led the American Embassy’s English Language school and also taught English as a second language at King Fahd University of Petroleum and Minerals in Saudi Arabia.
Networks Financial Institute was founded in 2003 with a grant from the Lilly Endowment. The non-profit organization serves as an outreach program of Indiana State University and focuses efforts on improving financial literacy, advancing important financial issues impacting Indiana through research, education and collaboration. Networks Financial Institute is headquartered in Indianapolis with offices on the campus of Indiana State University and outreach in Washington, D.C., and internationally. For more information about Networks Financial Institute, visit
www.networksfinancialinstitute.org.
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