Mind Over Money Skills: Preparing HBCU Students for Financial Success

Last Updated on August 20, 2024

Why Do We Struggle with Money?

Let’s be real—money isn’t something we usually talk about at family cookouts or during late-night dorm sessions. For many of us, the only time we really think about it is when we’re stressing over tuition, wondering how we’ll pay back those student loans, or when payday finally rolls around. But what if I told you that there’s a program out there designed specifically for students attending Historically Black Colleges and Universities, that could change the way we handle our money for the rest of our lives?

Enter the Mind Over Money Skills certification program, created by the Society for Financial Education & Professional Development (SFEPD). This isn’t just another boring finance class—this is about learning the skills we need to build real wealth, not just scrape by. And the best part? It’s made for us, by people who understand the unique challenges we face.

From Campus to Community: How It All Started

You’ve probably heard of Theodore “Ted” R. Daniels, the guy they call “Mr. Financial Literacy.” If not, let me put you on. Ted, a proud graduate of Fort Valley State University in Georgia, founded SFEPD back in 1998 with one mission: to bring financial literacy to underserved communities, especially to Black students at HBCUs. Why? Because, as Ted put it, “We saw a tremendous void in financial training in the Black community.” And he wasn’t about to let that slide.

Ted knew that if our HBCU students could get a grip on their finances, they wouldn’t just be helping ourselves—they’d be lifting up their families and communities too. “A lot of the students are first-generation,” Ted explained during our chat, “and when they go back to their household, they have some influence because they have more knowledge.” That’s powerful stuff.

Money Moves: What the Mind Over Money Skills Program Offers

So, what’s this program all about? The Mind Over Money Skills certification is broken down into eight modules—each one tackling a major money issue we all deal with, whether we realize it or not. Think budgeting, student loans, credit and debt management, homeownership, and even retirement planning. Yeah, I know retirement feels like a lifetime away, but trust me, it’s something we need to think about now, not later.

And here’s the kicker—completing this program doesn’t just give you knowledge; it gives you credentials. Yep, you heard that right. Thanks to a partnership with Credly, every student who finished the course gets a digital badge they can add to their resume. It’s not just a flex—it’s proof that you’ve got the skills to make smart money moves.

From Hampton to HBCUs Nationwide: A Model of Success

Before this program rolled out nationwide, Hampton University served as the launchpad. With the significant support of Hampton's president, Darrell K. Williams, the program quickly gained traction. Ted shared how President Williams’ commitment was crucial: “The President was committed to it,” Ted said. “He got everyone on board, and that’s what made the launch at Hampton so successful.” This strong backing set the stage for the program’s expansion to other HBCUs, allowing more students to benefit from this game-changing financial education.

From the Classroom to Real Life: Student Stories

Now, I could go on about how great this program is, but let’s hear from the people who’ve lived it. Take the students at Texas Southern University, for example. Ted told me about a time when he was showing them how to invest, explaining that you could start with as little as $25 a month. One student was shook—“I spend $100 on the weekend hanging out with my boys!” he said. The realization hit him that he could’ve been investing that money instead.

Then there’s the student at Jackson State who admitted she dropped $75 on a pair of shoes she didn’t need. After taking the course, she realized she could’ve started investing that money instead. These are the kinds of lightbulb moments that happen when we start learning about money.

And it’s not just about the individual gains. One student at Texas Southern shared that she was able to teach her mom how to manage credit after taking the course. They ended up getting a better house because of it. That’s what this program is all about—making real, tangible changes that affect not just us, but our families too.

The Bigger Picture: Closing the Wealth Gap

So, why does all this matter? Because the racial wealth gap is real, and it’s getting wider every day. According to Ted, despite more Black Americans earning college degrees than ever before, our financial well-being isn’t improving. “We spend like $1.6 trillion on consumer items and personal use,” Ted said, “but our wealth is only $44,000.”

That’s a huge problem, but it’s one that programs like Mind Over Money Skills are trying to solve. By giving us the knowledge and tools to manage our money better, we’re not just setting ourselves up for success—we’re helping to close that wealth gap that’s been holding us back for generations.

Building a Financially Literate Future: What’s Next?

So, what’s the plan? Ted and his team aren’t stopping at just a few schools. The goal is to roll this program out to all HBCUs across the country. And it’s not just about hitting the books—SFEPD is working to get university administrations, alumni, and even community organizations on board. The more support they get, the more students they can reach, and the bigger the impact.

Ted also mentioned something cool—SFEPD has a Student Ambassador Program where students who’ve completed the course teach their peers. It’s a whole cycle of learning and sharing that keeps the knowledge flowing.

Get Involved: Your Money, Your Future

So, what can you do? If you’re an HBCU student, the Mind Over Money Skills program is literally made for you. You can sign up online and start taking the courses at your own pace. And if you’re already thinking about graduation, that digital badge could be the edge you need when you’re job hunting. Don’t miss out—register and enroll in the Mind Over Money Skills program today and start taking control of your financial future.

For alumni and community members, there are plenty of ways to support the program. Whether it’s spreading the word, donating resources, or even just attending a session, every bit helps.

At the end of the day, this isn’t just about learning to manage money—it’s about changing the way we think about it. It’s about understanding that wealth isn’t just for other people; it’s something we can build for ourselves and our communities. As Ted Daniels said, “It’s all about getting in there and being persistent.” So, let’s make it happen.