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March 25, 2022

Harvard UC Finance Audit Finds No Irregularities, Vindicates Accused Council Members | News

Up-to-date: March 25, 2022 at 6:38 a.m.

An audit of the Undergraduate Council’s funds has “yet to discover evidence of any economic irregularities,” according to an first report of its findings unveiled Thursday by Undergraduate Council President Michael Y. Cheng ’22 and Vice President Emmett E. de Kanter ’24.

The audit, which started in January and was executed by Harvard Possibility Management and Audit Companies, dispelled some allegations of economic mismanagement that have plagued the Council since a notably contentious presidential election past November. It also manufactured recommendations on procedural adjustments for the body.

The Council voted unanimously to “fully cooperate” with the investigation previous December. The audit was envisioned to conclude by the conclusion of February, but was extended numerous periods “in component mainly because of refusals to solution inquiries,” Cheng wrote in his e-mail.

The Dean of Learners Place of work, which disperses funding to the UC, had withheld extra than $125,000 from the human body in response to the audit.

In the course of his Thursday e mail, Cheng asserted several situations that the audit experienced uncovered “extensive economic mismanagement in the UC,” and that some extra significant findings had been withheld from the report thanks to worries in excess of optics.

“Some of the conclusions of the investigation will not be released publicly simply because they could cause significant damage to Harvard’s popularity, supplied that the UC nominally signifies Harvard students to the general public,” Cheng wrote in the e-mail.

Assistant Dean of College student Engagement and Management Kate Colleran, who formerly served as a mediator for the UC, had a different evaluation of the report.

In an electronic mail to The Crimson, Colleran asserted that the report represented the complete scope of the investigation.

“I was pleased that the UC acknowledged a will need to hold themselves accountable in their stewardship of university student revenue by requesting an audit,” Colleran wrote. “I have verified with Audit Services that all of their conclusions are bundled in the report and no monetary irregularities had been identified.”

Cheng afterwards clarified his statements in an interview.

“I feel staying nonetheless to locate evidence does not indicate that the UC is completely cleared,” Cheng mentioned. “Strictly on the lookout at lawful phrases, yeah, there are no legal monetary irregularities, but there is definitive economical mismanagement.”

The report can make conclusions about the deserves of 6 of 12 economic allegations towards the body.

In just one obtaining, investigators decided that a scholar organization obtained $2,190 of funding from the Grant for an Open Harvard College in November 2020 to order Patagonia sweaters. The report indicated that the attire “does not align” with the grant requirements.

The grant cash is to be awarded to initiatives that are “socially inclusive and fiscally available,” like racial, cultural, psychological well being, and harassment avoidance leads to, per the UC’s website.

The report also mentioned that a UC retreat to Sunapee, N.H., in the tumble of 2021 experienced exceeded its $3,000 allocated funds by practically $4,000. No formal budget for the trip was obtainable, the report also mentioned.

The report evaluated the legitimacy of quite a few statements created all through the UC’s officer elections previous November, which include allegations levied in opposition to previous Adams Household Consultant Esther J. Xiang ’23, who was accused of dropping or thieving at least $20,000 of Covid-19 aid funding granted by the Council.

“We located no evidence that any funds were disbursed, applied for other reasons, or or else invested improperly by presidential candidate Esther Xiang,” the report states.

Xiang and her operating mate, David Y. Zhang ’23, ended up runners-up in the election between six tickets.

In a penned statement to The Crimson Thursday, Xiang underscored the distress the episode had caused her and advocated for compassion and kindness from her peers.

“These had been intense accusations, and their insidious intent and destructive energy can not be understated. They impacted my interactions, experienced persons questioning my character, and took a deep toll on my mental well being and wellbeing,” Xiang wrote. “I hope that this audit delivers us clarity, not just about my situation, but about how the UC, its strategies, and all customers of the Harvard neighborhood ought to maintain themselves more accountable for their steps.”

Cheng dealt with the findings in his electronic mail.

“No a single warrants to have their track record wrecked by bogus, deceptive allegations,” he wrote.

The report also cleared the Council of tax code violations that ended up the concentration of assaults by Ivor K. Zimmerman ’24 for the duration of his bid for UC president in the exact same election.

Zimmerman and his jogging mate, Joy Y. Lin ’23, campaigned mostly on the premise that the UC experienced violated its personal constitution by failing to file for non-earnings standing because 2008, and that the human body was consequently nonexistent.

Then-UC President Noah A. Harris ’22 defended the council in opposition to the accusation, clarifying that the Council was mechanically granted non-financial gain standing on account of its standing as a Harvard college student business. The UC later voted to get rid of this constitutional necessity.

The report echoed Harris’ clarification.

“The UC is not expected to file revenue tax returns because it is sponsored by the DSO and qualifies less than the University’s tax-exempt standing,” it reads.

Zimmerman reacted to the conclusions with reduction and some humor.

“I do not want to say I’m dissatisfied simply because it really is a great detail, but obviously, womp womp, ran a campaign on stating it wasn’t true,” he reported.

The report states that, in two of the 12 allegations investigated, auditors could not make conclusions “based on the unavailability of money information or inconclusive info.” These allegations incorporated the “failure to collect and evaluation $100,000 of grant receipts and request return of unspent cash through 2017 and 2018” and the use of UC debit playing cards for meals and snacks.

Four other allegations stay pending which include favoritism revealed towards substantial scholar organizations, conflicts of interest in Wintersession grants, political contributions made by the Council, and “misuse of grant cash by a student business focused on cultural and racial initiatives.”

The report also offered a array of procedural suggestions to make improvements to the UC’s economic administration tactics, which includes typical evaluation of UC debit card action, extra extensive financial instruction for officers, and the documentation of conflict of curiosity techniques.

UC Treasurer Kimani E. Panthier ’24 expressed fulfillment with the success of the audit and underscored his motivation to improving upon the UC’s money management infrastructure.

“My reaction to the audit is that the audit confirms what I knew all alongside, that there have been no money irregularities,” Panthier reported. “I feel that these findings display that we can even further improve the fiscal duty of the UC with the enable of the pros from the unbiased audit.”

The report states that the investigators are “working with UC officers to resolve” the pending allegations and expect “to get to a conclusion in the subsequent number of times.”

—Staff author J. Sellers Hill can be reached at sellers.hill@thecrimson.com.

January 11, 2022

Chef-founded startup finds a way forward for whey

DOBBS FERRY, NY. — A chef-led startup has developed a line of glowing drinks dependent on acid whey, the nutrient-wealthy liquid leftover from yogurt creation.

Brothers Adam and Jeremy Kaye founded the Spare Foods Co. to renovate unused and missed components into nutritious solutions. This previous April, the company debuted its 1st supplying, Spare Tonic, formulated with whey sourced from The White Moustache, a Brooklyn, NY-based yogurt maker, moreover fruit, spices and community honey. Flavors contain peach and turmeric, blueberry and ginger, cucumber and lime, and lemon and ginger.

The drinks supply a very good source of protein, potassium and magnesium and an excellent supply of calcium and vitamins B12 and B6. They also incorporate probiotics from the whey, said Adam Kaye, main culinary officer.

“The ethos of The Spare Food items Co. is captured in every can of Spare Tonic,” said Adam Kaye. “We choose an unused component and craft it into a delightful food stuff. In the system, we reduce weather-destructive waste, aid a regional food items procedure of farmers, producers and suppliers, and convey a healthful product to industry.”

For each individual cup of strained yogurt generated, two cups or 3 cups of whey are established. Generation of Greek-design yogurt in New York state generates an approximated billion lbs per calendar year of whey, Adam Kaye mentioned. Applications contain fertilizer, feed and electrical power technology however, “most of it is obtaining pre-treated and disposed,” he stated.

“So typically what is being discarded in our food items technique is in which so much of the nourishment is,” he claimed. “In the scenario of strained yogurt, the truth that you’re dropping up to 3 quarters of your uncooked substance, which is the place the fantastic stuff is, is intellect-blowing. What’s even additional thoughts-blowing is there is a multibillion business that is predicated on getting rid of 3-quarters of the volume of your raw materials. I really do not assume you’d go company college if you had to propose that as a small business.”

Spare Tonic is bought in place specialty merchants and places to eat and obtainable to choose locations by way of on the internet grocers Imperfect Foods and FreshDirect. The firm ideas to develop manufacturing and distribution this 12 months. Other focuses in the potential may include surplus produce, neglected parts of plants and further byproducts of meals manufacturing procedures, he claimed.

“We’re not carried out with whey nevertheless,” Adam Kaye mentioned. “There’s numerous line extensions of whey-dependent beverages that are absolutely in the pipeline and in the cards… Whey as an ingredient usually past beverages has great possible.”

Prior to founding the organization, Adam Kaye was chef and culinary director at Blue Hill at Stone Barns, a superior-finish farm-to-desk restaurant in the Hudson Valley. Jeremy Kaye, chief executive officer of Spare Food stuff Co., earlier held a item development role at Patagonia, where by he assisted produce and launch a sustainable sportswear organization. The brothers are fourth-technology foodstuff business people, Adam Kaye reported.

Spare Food Co. was among the 10 startups selected to acquire seed grant funding from The Kroger Co. Zero Starvation/Zero Squander Foundation Innovation Fund last Might. Adam Kaye a short while ago joined the board of the Upcycled Food items Association, a non-profit organization concentrated on cutting down foodstuff squander.

“This entire upcycled foods world is fairly nascent, and we are at the slicing edge of that,” he said. “What we’re accomplishing listed here is, in our watch, we’re correcting a broken food items method. We are rewiring a highly inefficient technique.”

December 4, 2021

Fed Survey Finds Supply-Chain Shortages Boosting Inflation | Business News

By MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) — Many parts of the country were hit by supply chain disruptions and labor shortages in November, the Federal Reserve reported Wednesday.

In a survey of business conditions around the country, the Fed’s 12 regional banks found that the economy continued to grow at a modest-to-moderate pace, and the outlook for future growth remains positive.

But some of the Fed’s some business contacts expressed uncertainty about when the problems presented by supply chain bottlenecks and labor shortages might begin to ease.

In part because of the supply chain problems, price increases were reported to be widespread across the economy.

Political Cartoons

“There were wide-ranging input cost increases stemming from strong demand for raw materials, logistical challenges and labor market tightness,” the Fed’s report, known as the beige book, said.

The Fed survey, which is based on interviews with business contacts last month in all 12 of the Fed’s regional bank districts, will form the basis for discussions when central bank officials hold their final meeting of the year on Dec. 14-15.

In congressional testimony this week, Federal Reserve Chairman Jerome Powell said the central bank is prepared to speed up the pace of the pullback of the easy-money policies it has been using to support the economy for the past 20 months.

The Fed had been buying $120 billion in Treasury bonds and mortgage-backed securities since the spring of 2020. At its meeting last month, the central bank announced that it would start to trim those purchases, which serve to keep long-term interest rates low, by $15 billion in November and another $15 billion in December.

Powell’s comments this week indicated the Fed may announce at its December meeting that it will make larger monthly reductions in the future so that the bond purchases can be totally ended earlier than the June end-date which had been expected.

That would clear the way for the Fed to begin raising its benchmark interest rate, which was reduced to a record low of 0{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 0.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in early 2020.

Both the ending of the bond purchases and the start of interest rate hikes would be expected to raise borrowing costs for consumers and businesses as a way to slow the economy and fight inflationary pressures.

Powell made his comments as inflation has surged to a three-decade high, largely because the pandemic has limited supplies at a time when the re-opening of the economy has led to high demand.

The Fed report said that companies were complaining about “persistent difficulty in hiring and retaining employees” with many leisure and hospitality firms still limiting operating hours due to a lack of workers.

The report said businesses had heard a variety of reasons for the labor shortages. Those included the lack of childcare, retirements, and continued safety concerns revolving around the persistence of COVID cases. The survey was conducted before the emergence of the new omicron variant.

“Nearly all districts reported robust wage growth,” the Fed said. “Hiring struggles and elevated turnover rates led businesses to raise wages and offer other incentives, such as bonuses and more flexible working arrangements.”

November 28, 2021

Jury finds major pharmacy chains helped fuel opioid epidemic

(Reuters) — A federal jury Tuesday found that pharmacy chain operators CVS Health Corp., Walgreens Boots Alliance Inc. and Walmart Inc. helped fuel an opioid epidemic in two Ohio counties, in the first trial the companies have faced over the U.S. drug crisis.

After six days of deliberations, jurors in Cleveland federal court concluded that actions by the pharmacy chains helped create a public nuisance that resulted in an oversupply of addictive pain pills and the diversion of those opioids to the black market.

The verdict, which lawyers for the counties confirmed, has the potential to give state and local governments new leverage in their efforts to negotiate settlements that would resolve the thousands of other cases against the pharmacy operators.

“The judgment today against Walmart, Walgreens and CVS represents the overdue reckoning for their complicity in creating a public nuisance,” the plaintiffs’ lawyers said in a joint statement.

Jurors only assessed liability. It is up to U.S. District Judge Dan Polster to decide how much the companies owe to abate, or address, the public nuisance in Ohio’s Lake and Trumbull counties.

He has tentatively scheduled a trial on that question for May 9. The counties’ lawyers have said the costs are potentially $1 billion for each county.

CVS said in a statement that it strongly disagreed with the verdict and planned to appeal, arguing that the court misapplied public nuisance law, which other courts in similar opioid cases have recently declined to apply to drug manufacturers.

“As plaintiffs’ own experts testified, many factors have contributed to the opioid abuse issue, and solving this problem will require involvement from all stakeholders in our health care system and all members of our community,” CVS said.

Representatives for Walgreens and Walmart did not immediately respond to requests for comment.

The trial was the first that any pharmacies had faced over an epidemic that U.S. health officials say had by 2019 resulted in nearly 500,000 opioid overdose deaths over the course of two decades.

At trial, lawyers for Lake and Trumbull counties argued that the pharmacies failed to ensure opioid prescriptions were valid and allowed excessive quantities of addictive pain pills to flood their communities.

The pharmacy operators, among the largest in the United States, denied the allegations. They said they took steps to guard against the diversion of pills and blamed others, including doctors, regulators and drug traffickers, for the epidemic.

The verdict in the Ohio trial followed recent setbacks for plaintiffs pursuing some of the other 3,300 opioid cases filed against drug manufacturers, distributors and pharmacies nationally.

Oklahoma’s top court on Nov. 9 overturned a $465 million judgment against drugmaker Johnson & Johnson, and a California judge this month ruled in favor of four drugmakers in a case brought by several large counties.

Other trials are underway in New York involving drugmakers Teva Pharmaceutical Industries Ltd. and AbbVie Inc., and in Washington state with the three largest U.S. drug distributors.

November 11, 2021

More Than One In Five NYC Financial Firms Expect To Move Jobs Out Of The City, Study Finds

Topline

Manhattan offices will remain peaceful heading into 2022, according to a survey of employers unveiled Wednesday, with several monetary products and services corporations expecting to shift careers out of New York City permanently.

Fiscal corporations are thinking of relocating work opportunities out of New York City places of work forever above the subsequent … [+] 5 years. (Photograph by Noam Galai/Getty Illustrations or photos)

Getty Pictures

Essential Facts

A study of “significant businesses” from the Partnership for New York Metropolis, an financial advancement team, observed 22{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of economical products and services firms program to reduce their headcount in New York City over the up coming five years, the best share of any industry.

All round, 13{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of respondents claimed they expect to shrink their workforce in the town.

Extra than a 3rd of businesses be expecting to minimize the sizing of their office house in the subsequent 5 years, which include 86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of accounting companies, 43{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of general public relations organizations and 38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of tech companies.

Some 80{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of businesses believe that the Covid-19 pandemic will result in everlasting variations to their remote do the job procedures, with 47{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} anticipating their workers will keep distant for much more than 3 days a 7 days immediately after the pandemic ends.

By January, businesses continue to assume much less than fifty percent of personnel (49{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) will be in the office on an average workday, with only 13{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of employees anticipated to be doing work comprehensive, 5-working day months in the office environment by then.

The study, executed from Oct 19 to October 29, identified 28{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Manhattan business office personnel have been physically current on the common workday, but 54{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} ended up nevertheless entirely remote.

Contra

Following steep losses in fiscal work amid the Good Recession, New York City attained back again a significant selection of jobs in excess of the earlier ten years. The variety of persons utilized in money actions rose from all over 427,000 in 2010 to additional than 485,000 in 2019, in accordance to data from the U.S. Bureau of Labor Statistics. There was a sharp drop in 2020, even though, with the number of positions dropping underneath 470,000.

Important Qualifications

The fiscal providers market has been searching for to increase more work opportunities in decrease-charge, lower-tax towns for many years, but despite sector growth in Southern and Western towns, NYC has maintained its standing as the nation’s economical capital. But the Covid-19 pandemic led to unprecedented improvements in how People in america do the job, and exactly where they have to have to dwell to do their employment. A craze throughout the U.S. early in the pandemic was for employees to go away dense, city town cores to transfer to cheaper and additional spacious suburban locations. While it truly is not distinct exactly how numerous people remaining, and how numerous might have carried out so for very good, scientific studies have proposed hundreds of thousands of NYC citizens bolted from the metropolis during the pandemic. But the craze seems to be reversing, if rental charges are any indication. The median rent for a Manhattan condominium arrived at a very low of $2,750 in January, with landlords having unparalleled techniques like presenting tenants lease-no cost living preparations for months to entice them to sign leases. But rental charges have given that skyrocketed, as a lot as 70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for some properties.

Further Looking at

Welcome To Y’all Avenue: The Cities Hard New York For Financial Supremacy (Forbes)

Much more Individuals Are Leaving Metropolitan areas, But Really don’t Get in touch with It an City Exodus (Bloomberg)

New York Renters Face 70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} Improves as Pandemic Bargains Expire (Bloomberg)

Median Rent In Manhattan Drops Below $3,000 For First Time Given that 2011 (Forbes)

October 4, 2021

34{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Gen Z Is Learning Personal Finance From TikTok and YouTube, Survey Finds

Money / Financial Planning

pressureUA / iStock.com

Generation Z has grown up in an age of low commissions and high technology, which has greatly influenced how they invest and learn about money in general. This generation that is between 6-24 years old right now is trying to use what they grew up with — things like social media — to their advantage instead of just for fun. While previous generations might’ve relied on family, financial advisors or other sources to learn about money management, Gen Z appears to be modernizing personal finance education in a way that works for them.

Read: 51 of the Biggest Money Influencers on TikTok and YouTube
Check Out: The 10 Best Stocks for the Gen Z Investor

To find out about Gen Z’s approach to personal finance, investing and more money issues, GOBankingRates commissioned a six-question study of 1,000 Americans ages 18 to 24. Here are some of the most interesting results from that survey.

Gen Z Learns Personal Finance From TikTok and YouTube

Perhaps the most notable result from the survey is that the younger generation gets a lot of its financial information from a source that didn’t even exist two decades ago. A whopping 38.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Gen Zers responded that they learned about personal finance from TikTok, YouTube or other social media outlets, like Twitter or Instagram — 34.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} answered TikTok and YouTube specifically. An additional 7.20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} responded that they get their information from personal research and/or online forums like Reddit. Combined, that’s far more than the 22.70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} who reported learning from parents or family.

A lot can be inferred from this statistic. For starters, it reflects how much social media and online information dominates the lives of Gen Zers. However, it also raises questions about the quality of information that Gen Zers are getting about personal finance. While there is certainly some valuable information to be found online, there aren’t many restrictions as to who can post online and what they can say. If Gen Zers aren’t vetting the information they’re receiving, they could be susceptible to financial misinformation. It also means they might be missing some of the fundamental principles about personal finance along the way, as only 17.60{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} indicated they learned their financial information from a high school or college class.

Find Out: 5 Financial Steps Gen Z Should Be Taking Now
See: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially

A Surprisingly High Percentage of Gen Zers Invest in Real Estate

For the purposes of this survey, only those ages 18-24 were included. Typically, people in that age range are either finishing up their education or working their first jobs. In either case, Gen Zers haven’t had a lot of time yet to build up their savings and investment portfolios. Yet, a surprising 19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of respondents indicated they were invested in real estate, which traditionally requires higher levels of investment and/or a good credit history. This was the second-most popular investment category of survey respondents, just behind the 22.40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} indicating they were invested in stocks.

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Although a large number of Gen Zers in the survey indicated they were invested, 33.70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} indicated that they were not invested in anything. This represented the single largest individual response to this question. While many Gen Zers may not yet be earning a lot of money to invest, it would benefit them to begin saving and investing as young as possible to take advantage of the power of compound interest.

More: Crypto and 5 Other Groundbreaking Investing Trends for Gen Z
Find: How Will Teens and Gen Z Invest Their Money? Think Low-Risk, ESG and Roboadvisors

Debt Levels Are Generally Under Control for Gen Z

While it might be more encouraging to see a higher level of investment from the survey respondents, the good news is that most of the Generation Z survey respondents indicated they had control over their debt. More than 34{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of survey participants didn’t have any debt at all, including student debt, and nearly two-thirds had less than $5,000. However, 9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of respondents had at least $50,000 in debt.

Find Out More: Life Events That Millennials and Gen Zers Are Choosing To Go Into Debt For

Many Gen Zers Still Rely On Their Parents

From the survey results, it appears that Gen Zers aren’t quite ready to completely stand on their own in times of trouble. During the pandemic, around two-thirds of respondents indicated that they lived with their parents. Although 13.90{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} indicated they have since moved out on their own, a full 49.30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} indicated they either have always lived with their parents or moved back home during the pandemic and are still there.

Read: Gen Z Feels Financially Unprepared for Adulthood — But Has Hope for the Future
More: 4 Industries Gen Z Might Save — and 4 It Might Destroy

There Are Some Notable Differences Between Male and Female Gen Zers When It Comes to Personal Finance

When it comes to money and finance, there were some relatively significant differences between male and female respondents to the Gen Z survey. For example, 26.13{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of women indicated they learned personal finance from their parents or family vs. just 16.53{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men. Men vastly preferred YouTube as a source of financial information, at 27.17{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} vs. 11.98{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} for women.

Women were also more likely to have zero debt, at 36.08{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} vs. 31.09{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men, but they were also less likely to be invested: Only 25.77{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men indicated they were not invested vs. 38.10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of women. About 52{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men indicated they were invested in cryptocurrency and/or stocks vs. just 32.50{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of women.

More From GOBankingRates

Last updated: Sept. 15, 2021

Methodology: GOBankingRates surveyed 1,000 Americans aged 18 through 24 from across the country on Aug. 19 through Aug. 20, 2021, asking six different questions: (1) Where did you learn about personal finance?; (2) How much overall debt do you currently have? (Including student loan debt); (3) Do you invest your money? If so, what do you invest in? Select all that apply:; (4) If you had to pick one, what do you prioritize/value the most in a potential job?; (5) Did you move back in with your family during the coronavirus pandemic?; and (6) What do you spend the majority of your money on, aside from rent?. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.

About the Author

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.