Former Mt. Hebron High School Millionaire’s Club member, Praneeth Chandu, was recently interviewed by Victor Mullins, associate dean of the undergraduate program at the University of Maryland’s Robert H. Smith School of Business. In the interview Praneeth credits his involvement in the Millionaire’s Club financial education experience for fueling his passion for finance and helping others.
(excerpt) – Dean Mullins: When and how were you able to identify this passion?
I was able to identify this in high school through my involvement in a personal finance club called the Millionaire’s Club. I joined as a junior and that involvement is what introduced me to the financial markets and financial news. The following year, I became the president of the organization and was responsible for researching various financial topics and creating slide decks to share my findings with my peers during the general body meeting. The Millionaire’s Club grew to become the largest student organization at my high school and this was the first time I saw myself making an impact in my community.
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Millionaire’s Club members learn the basics of budgeting, selecting financial services, protecting their assets and identities, responsible borrowing, career choice, and trading stocks on a “virtual” basis. Club members also plan and execute an annual entrepreneurial project.
Created five years ago by the CU Foundation MD|DC, Millionaire’s Clubs have been growing at an increasing rate and as of this writing over 1,800 students benefit annually from their participation at forty-four sites.
School Clubs are paired with a sponsoring credit union and are provided seed grants, detailed curriculum, and faculty/student materials at no charge. Clubs are entered into local, regional, and national competitions such as The Stock Market Game™ and The Personal Finance Challenge™. Additional support materials add a fun, competitive edge to the Club’s activities.
Millionaire’s Clubs have produced State and National personal finance champions as well as first-place Stock Market Game™ competitors.