Visa Launches Global Financial Education Initiative for Olympic Athletes

Award-Winning, Personal Finance Education Program to Help Empower Athletes

Visa Inc. today announced a global financial education program at the Rio 2016 Olympic Games that will help Olympic athletes take control of their financial futures.

The program, developed in partnership with the International Olympic Committee (IOC), will help current athletes, and those nearing sports retirement, to access resources that can build their financial skills and allow them to better manage their financial lives both during their athletic careers and after.

“As a 30-year sponsor of the Olympic Games and a champion of financial education for over two decades, Visa is committed to helping provide athletes with the tools, resources and support they need to reach their highest potential in sport and in life,” said Eduardo Coello, Visa Group Executive, Latin America and Caribbean (LAC) region. “With this new program, we are deepening our commitment to the Olympic Movement and leveraging our global expertise in financial education in response to a clear need expressed by many athletes.”

Beautiful Girl Talking on the Phone

The new program, Practical Money Skills for Athletes, will utilize Visa’s award-winning financial education program and curriculum focused on key personal finance topics including financial planning and decision making, goal-setting, budgeting and saving, understanding banking services, and basic money management. Financial education workshops for athletes will initially be available in English, French, Portuguese, and Simplified Chinese, and will feature presentations, skill-building activities and multi-media components.

“I’m excited to be an advisor and ambassador for this new initiative,” said four-time U.S. ice hockey Olympian and newly elected chair of the IOC’s Athletes’ Commission, Angela Ruggiero, who serves as an ambassador for the Practical Money Skills for Athletes program. “By making their personal finance education resources relatable to the unique needs and challenges athletes face, Visa is helping to ensure that athletes are better prepared for success in life.”

“We are greatly appreciative of Visa’s commitment to financial education and bringing that commitment to the Olympic family,” said Kit McConnell, Sports Director, International Olympic Committee. “Greater personal finance knowledge and skills are important in building a sound financial future. We encourage National Olympic Committees and all athletes to take advantage of this exciting new program.”

Quote of the Day: “Seniors may be the one group that does not suffer from optimism bias when it comes to scams.”

Rubens Pessanha, CBBB director of marketing research and insights. “Seniors may be the one group that does not suffer from optimism bias when it comes to scams. They’ve heard, loud and clear, that they are at risk. Seniors may very well be more scam savvy than others. They are also less impulsive buyers than younger consumers, and less likely to be making purchases online where so many scams take place.”

Millennials more likely to get scammed than seniors, says the BBB.

Scams affect one in four North American households each year at an estimated loss to individuals and families of $50 billion, yet most consumers believe they are invulnerable.

Millennials more likely to get scammed than seniors, a newly released survey by the Better Business Bureau reports.

FamilyThe age group most likely to fall for scams and lose money are people aged 18 to 24, according to the BBB Institute for Marketplace.  The stereotype of seniors as scam victims is actually wrong — it’s millennials who are less likely to recognize a scam.

The BBB surveyed more than 2,000 adults in the U.S. and Canada.  It found 34 per cent of people in the 18 to 24 age group reported losing money in a scam, compared to 11 per cent of seniors.

“We’ve bought into stereotypes about scam victims — they’re usually seen as vulnerable and elderly, or gullible and poorly educated,” said the paper’s co-author, Emma Fletcher. “We are all at risk, but younger and more educated individuals are actually the most likely to be scammed.”

More about the study:

Amazon shatters earnings expectations

Amazon shattered expectations when it reported second quarter earnings after the bell on Thursday. Adjusted earnings per share came in at $1.78, when Wall Street was forecasting $1.11. Amazon also beat revenue predictions, posting $30.4 billion for the quarter when analysts were expecting $29.55 billion. Amazon tends to make a lot of experimental bets. They’ve…

via Amazon shatters earnings expectations — TechCrunch

Alphabet announces Q2 2016 revenue of $21.5 billion, beats expectations

Ahead of its results call, Alphabet has published earnings for the second quarter of 2016. The company is reporting revenue of $21.5 billion, up from $17.7 billion last year in the same quarter, and has surpassed analyst expectations. Additionally, the company reports a net income of $5.9 billion for the second quarter of 2016. Based on these results, Alphabet stock is up over…

via Alphabet announces Q2 2016 revenue of $21.5 billion, beats expectations — 9to5Google

U.S. Regulators Propose Huge Overhaul of Debt Collection Industry

(NEW YORK) — The Consumer Financial Protection Bureau proposed a massive overhaul of the multibillion dollar debt collection industry on Thursday, which would restrict collectors from calling numerous times a day, require them to have more documentation on what’s owed, and give people more ability to dispute their bills. It would be the biggest overhaul…

via U.S. Regulators Propose Huge Overhaul of Debt Collection Industry — TIME