Young Guys Finance aims to empower youths on spending
New SFU alumni-driven company in running for trio of Small Business B.C. awards
Three Simon Fraser University graduates are working to overcome a lack of personal financial understanding among young people.
And in doing so, Young Guys Finance has been nominated for a trio of Small Business B.C. Awards, including Best Emerging Entrepreneur, Premier’s People’s Choice and Best Concept. Nearly 500 small businesses are in the running for 10 awards. Online voting ends today (Nov. 30) and is available here.
The trio formed their company in early 2015 and since launching in October have already drawn over 250 e-mail subscribers and 2,500 views on YouTube.
They’ve weaned out the essentials of what young people need to know about personal finance in a bid to create spending awareness, rather than advice or schemes. They’ve prepared a playlist of videos, a money “game plan” and online access to a free learning area.
“The main goal of our business is to empower more young Canadians to take control of their own money and really prepare themselves for the real world as they step into their professional careers,” says Justin Lee, a graduate of SFU’s Beedie School of Business who studied at SFU’s Surrey campus.
There, he worked with School of Interactive Arts and Technology (SIAT) graduate Shun Lee, who produced the team’s videos, and Irvin Ho, another SFU Beedie School graduate.
“We’re challenging the norm of Canadian personal finance education, with the goal of teaching the absolute essentials of managing money and building wealth, without boring our audience to sleep,” says Lee.
“Money is such an important aspect of our lives, yet so many young people are thrown into the deep-end and forced to learn the principles of personal finance themselves.
“We’re here to show young Canadians how to set smart financial goals, become aware of their spending, and have a ‘set-it-and-forget-it’ mentality when it comes to investments. We target the essentials of what young Canadians need to know about personal finance.”
The annual SBBC Awards drew 500 nominations last year. Winners will be recognized at an awards ceremony in February 2016.