Millwood students learn a lesson in financial literacy

Financial expert Aaron W. Smith, RFC, spoke with Midlothian’s Millwood School upper and middle school students about the three principles in building a foundation in the language of money on Monday, Oct. 31.

The president and founder of AW Smith Financial Group highlighted three main points of sharing, spending, and investing during his 30-minute presentation. “They all have great meaning,” Smith said. “Sometimes as we mature economically, we begin to learn a lot more about each of those.”

Smith explained that most people do not grow up learning about money. “Because we don’t grow up learning about money, we are a little afraid of it like it’s a foreign language,” he said.

Smith added that without a solid foundation in understanding money, one does not always make the best financial decisions. “It doesn’t matter if you have a Ph.D. or if you’re a high school graduate, it’s a challenge if you don’t have the foundation for financial planning,” he said.

Betsy Latham, head of Millwood School, believed the session was a good opportunity for the students to start thinking and talking about the financial world. She added that Dr. Eileen Atkinson, who is the assistant head of middle and upper school, saw Smith during a five-minute broadcast segment on CBS affiliate WTVR 6 and suggested Smith as a speaker for one of the school’s monthly forums.

Dr. Atkinson added that Smith’s message was on target with the school’s core mission. “At Millwood School, we believe that teaching students about money and finance is essential. Mr. Smith did an outstanding job of explaining how important it is to balance investing, spending and sharing,” Atkinson said.

Smith, who is a University of Richmond alumnus and former Spiders running back, has over 20 years experience in finance including financial education and training for numerous groups. The Richmond native has penned “In the Black: Life Faithfully, Prosper Financially – the Ultimate 9-Step Plan for Financial Fitness”, which was published by Harper Collins in 2009.