The Value of Financial Literacy

Lisette Mendez, NFTE South Board Chair and Vice President & Latin America Controller at AT&T Finance, shares her insights on the importance of financial education and entrepreneurship.

Initially drawn to engineering, Lisette’s passion for numbers led her to pursue an MBA in Finance. She quickly realized that finance was more than just “numbers with dollar signs.” Instead, she discovered it to be the universal language of business, applicable to every aspect of the corporate world.

What truly captivated Lisette about NFTE was its unique approach to financial literacy. The organization takes theoretical concepts and transforms them into hands-on experiences. Students not only learn about finance but also apply this knowledge to start businesses in fields that inspire them. This experiential learning model resonated deeply with Lisette, motivating her to share her financial expertise with eager young minds.

According to Lisette, entrepreneurship and financial literacy are two sides of the same coin. On one hand, entrepreneurship fosters innovation, problem-solving, resilience, and calculated risk-taking. It empowers students to identify market needs and create valuable solutions. On the other hand, financial literacy provides the tools to measure progress and evaluate success.

Lisette emphasizes, “Without understanding finance, entrepreneurs cannot see if their ideas are adding value to their market.” This interplay between creativity and fiscal responsibility is at the heart of NFTE’s educational philosophy.

In Lisette’s experience, many individuals feel intimidated by financial concepts and statements. However, she’s observed how entrepreneurial skills like resilience and adaptability help people overcome these barriers. These competencies encourage individuals to explore different approaches and seek guidance to better understand and relate to financial information.

Lisette identifies two major financial literacy gaps among young people today:

To address these gaps, she suggests that NFTE could expand its curriculum to include:

To address these gaps, Lisette suggests that NFTE expand its curriculum to include quarterly and multi-year views of business plans. She emphasizes the importance of understanding cyclical business elements and how to read income statements to gauge ongoing business performance.

Before graduating high school, Lisette believes every student should grasp two fundamental financial concepts:

“It is important to understand how much it costs to manage a household,” Lisette advises. By learning these concepts early, students can build a strong foundation for their financial future.

Through her work with NFTE and her role at AT&T, Lisette Menendez continues to champion the cause of financial literacy. Her passion and expertise are helping to shape a new generation of financially savvy entrepreneurs, equipping them with the tools they need to turn their innovative ideas into successful, sustainable businesses.

As we look to the future, it’s clear that the combination of entrepreneurial spirit and financial acumen will be crucial in addressing global challenges and driving economic growth. Thanks to dedicated professionals like Lisette and organizations like NFTE, young entrepreneurs are being empowered to not only dream big but also to manage their finances wisely, ensuring their visions can become reality.