If you have a millennial in your life, you may already know they’re lacking in financial know-how, but few of us are able to offer any advice they can actually relate to. That’s why Shannon Lee Simmons, a certified financial planner and chartered investment manager, founded the New School of Finance.
Her fee-only financial planning firm is geared toward giving millennials the tools they need to take charge of their finances, with online courses on topics like “Can you afford to buy a home?” and “Don’t get effed at tax time.” Each course costs between $97 and $147 and comes with planning tools and the guidance necessary to ensure clients actually use the resources correctly. But the real value comes from Simmons’ straight-talking personality, and her ability to tailor time-tested financial concepts for a young, urban clientele that may not share the same financial goals as their parents. (Case in point: Her @therealselfies Instagram account shows the actual cost of living large on social media.)
“It’s almost information overload on the Internet, to be honest with you,” says Simmons about why she founded the New School of Finance. “Where do you go? Who do you trust? Who’s a hack?”
There are plenty of places to learn about personal finance for free on the Internet (moneysense.ca being an obvious favourite), but Simmons wanted to create a way for young people to get the information they need from a trusted authority.
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