Invesco/Invesco QQQ, an NCAA corporate partner, has launched its innovative digital game How Not To Suck at Money, the official financial education program of the NCAA. The game is set in an animated college town and features students learning how to make important financial decisions by helping characters solve various money dilemmas.
The new initiative was researched with over 1,500 college students to ensure the experience and topics resonated with them. Topics include budgeting, banking, credit cards, student loans, investing, moving out and starting a new job.
"Invesco and Invesco QQQ have a long-standing commitment to financial education with clients and in local communities. With only 14% of college students participating in noncredit financial education programs, we want to extend this commitment to college students from all backgrounds, including student-athletes," said Emily Pachuta, chief marketing and analytics officer for the Americas at Invesco. "In partnership with the NCAA and our Invesco QQQ Financial Education Board of Advisors, How Not To Suck at Money tackles the real-life money questions college students face in a relevant and entertaining way so that they can be more confident about decisions around money."
Invesco QQQ recruited current and former student-athletes and student-athlete advocates to a board of advisors to consult on and advocate for the game based on their financial experiences in college. Members include Grant Hill, former Duke basketball athlete, current NCAA independent board member and professional basketball executive; Swin Cash, former UConn basketball athlete and current professional basketball executive; Justin Lawson, former Hampton football athlete; Jessica Mendoza, former Stanford softball athlete; Amy Rodriguez Shilling, former Southern California soccer player; Jaylon Smith, former Notre Dame football athlete and current professional athlete; Nick Juran, current Washington football student-athlete; Sandra Richards, Morgan Stanley financial services executive; and Jonathan Clarke, Georgia Tech Scheller College of Business associate professor and senior associate dean of programs.
One of the reasons Invesco partnered with the NCAA was to help student-athletes and the general student body learn how to make better financial decisions, empowering financial independence. To celebrate the launch, Invesco QQQ hosted a live panel event Monday at Georgia Tech featuring financial experts and former NCAA student-athletes. Panelists discussed the importance of taking a proactive approach to financial learning and shared personal anecdotes illustrating their own money memories.
Ellen Lucey, director of NCAA championships engagement, talked about the benefits of the program for athletes. "How Not To Suck at Money is an innovative approach to money management, and Invesco QQQ shares fundamental information that student-athletes should keep in mind as they begin their financial planning," Lucey said. "Education is a primary focus of the NCAA, and Invesco QQQ is giving student-athletes financial education in this fun and creative way to help them think more broadly while they are in school, which will hopefully keep them on track once they graduate. The event at Georgia Tech was great. We hope athletics administrators and others in higher education will see the benefit of the program and introduce it in their student-athlete developmental programming, life skills and other academic initiatives."
Swin Cash encouraged students and student-athletes to become intrepid financial goal-setters. "We had an amazing panel (at Georgia Tech) that partnered with Invesco, people who really care about helping these young student-athletes learn more about not only financial literacy, but also to launch this really cool game," Cash said. "I hope every student-athlete gets started. That's the biggest step. They say, 'I realize I'm not where I want to be. I want to learn more … and then you take that first step.' As athletes, we're always trying to reach our goals, but in order to reach your goals, you have to be willing to take the necessary steps to get there."
Josh Pastner, men's head basketball coach at Georgia Tech, reinforced the need for sound financial advice. "I see so many stories, so many times of athletes of any sport. … They've made a lot of money, and then years later, they're totally broke," Pastner said. "And a lot of times if you hear the stories, what they'll say is they didn't have the education part of it during the time, maybe while they were in college. And understanding how to save, where to invest, what to do, making sure you have the right financial advisor, the right tax people, all of that was really important."
Pastner added, "So from my standpoint, it's important for our young men, for the young student-athletes I'm responsible for, that we give them the education platform, so when they do leave college, whether they make the professional ranks or are really successful in just another form of business, that they do well with their current finances and save for the long term."Â
Invesco is the official asset manager of the NCAA, and Invesco QQQ is the official exchange traded fund of the NCAA. Student-athletes can learn more about the new program and play at no cost by visiting HNTSAM.com.Â
