{"id":12902,"date":"2024-03-05T15:10:45","date_gmt":"2024-03-05T21:10:45","guid":{"rendered":"https:\/\/blog.uwsp.edu\/cps\/?p=12902"},"modified":"2024-03-06T16:48:52","modified_gmt":"2024-03-06T22:48:52","slug":"finance-student-taking-financial-literacy-research-to-the-state-capitol","status":"publish","type":"post","link":"https:\/\/blog.uwsp.edu\/cps\/2024\/03\/05\/finance-student-taking-financial-literacy-research-to-the-state-capitol\/","title":{"rendered":"Finance student taking financial literacy research to the state capitol"},"content":{"rendered":"\n


A recent legislation will require financial literacy education courses in Wisconsin high schools starting the fall of 2024. In response, University of Wisconsin-Stevens Point junior Henry Niedbalski will present his investigations on the current state of financial literacy education in schools at the 20th anniversary Research in the Rotunda event on Wednesday, March 6. [Event Photos<\/a>]<\/p>\n\n\n\n

\"Research<\/a><\/figure>\n\n\n\n

Held at the Wisconsin State Capitol, the annual event invites undergraduates from across the Universities of Wisconsin to exhibit their research. Niedbalski will be among the 29 students and faculty representing UW-Stevens Point in showcasing their work in front of Wisconsin\u2019s legislators, state leaders and university peers.<\/p>\n\n\n\n

Niedbalski, a finance major from Wisconsin Rapids, found that while state legislature action will be helpful at the high school level, his research hopes to give data points where students\/educators can improve inadequate areas of financial literacy. He collaborated on his research with UW-Stevens Point\u2019s Sentry Insurance Endowed Chair of Business Analytics Professor Nik Butz.<\/p>\n\n\n\n

Butz said he was impressed by Niedbalski\u2019s work ethic and can-do attitude. Niedbalski has worked under Butz for more than a year. His work began by scanning newspapers for data and analytics articles for Butz and now he works as his professor\u2019s assistant, performing data cleaning, survey creation and curation of readings for a business analytics class.<\/p>\n\n\n\n

During his initial research, Niedbalski found only 35 percent of Wisconsin high schools require financial literacy courses. The data he is collecting will measure the discrepancies between how prepared students feel on financial topics versus how they rank their respective importance. Measured data points include topics such as saving, investing, budgeting and understanding taxes.<\/p>\n\n\n\n

The Financial Industry Regulatory Authority found that financial literacy is strongly correlated with higher savings among individuals.<\/p>\n\n\n\n

Niedbalski said financial literacy also benefits society, as it strengthens an individual\u2019s ability to make more sound financial decisions. At present, there are gaps in financial literacy education that may rest on universities to fill, he said.<\/p>\n\n\n\n

Some UW System schools, including UW-Stevens Point, offer financial literacy certificates and student organizations to help close the gap for students who may have not received these education courses previously. \u201cOur research also raises the question of how this gap will be filled for those who do not choose a university path prior to the date mandated,\u201d said Niedbalski.<\/p>\n\n\n\n

Estimated costs of those lacking knowledge total around $2,000 annually, according to The National Financial Educators Council.<\/p>\n\n\n\n

\u201cWe are at a critical phase where responsibility for training young people in financial literacy is shifting,\u201d Niedbalski said. \u201cIn terms of implementation, our research highlights opportunities to make the most impact contributions to refining and improving financial literacy education at the secondary and post-secondary level.\u201d<\/p>\n\n\n\n

Niedbalski will attend Research in the Rotunda for the first time, however, he will be in experienced company with Butz, who has brought students to Research in the Rotunda since 2017.<\/p>\n\n\n\n

Butz said this offers a great experience for students to make possible connections and get inspiration from other Universities of Wisconsin students and representatives in attendance. He added that the event empowers students by granting them the support and recognition they deserve.<\/p>\n\n\n\n

While their research is still in progress, Niedbalski and Butz figure their call to action may lead to determining whether financial literacy education should be required on UWSP\u2019s campus as well.<\/p>\n\n\n\n

Niedbalski chose this topic as it is something he is passionate about. He believes financial literacy education is a subject which benefits everyone. The opportunity to share research with policymakers in the state is something to look forward to, he said.<\/p>\n\n\n\n

\u201cHenry has a strong work ethic, and even if he doesn\u2019t know how to do something, he isn\u2019t afraid to ask for help and to give it his best effort. That will take him far in research and life,\u2019 said Butz.<\/p>\n\n\n\n

Niedbalski will spend this summer interning with Church Mutual Insurance\u2019s underwriting department.<\/p>\n\n\n\n

UW-Stevens Point students presenting research at the capitol<\/h2>\n\n\n\n

In addition to Niedbalski, sixteen additional students across six projects are presenting as part of Research in the Rotunda, including:<\/p>\n\n\n\n