A marketing manager from the $117 million, Lewiston-based Maine Family Federal Credit Union is taking part in a new Web-based reality “show” that challenges young adults ages 18 to 25 to tackle their personal financesThe program, called “So You Think You Can Finance,” is developed and facilitated by NerdWallet, a San Francisco-based personal finance analysis firm.
For “So You Think You Can Finance,” NerdWallet selected five contestants from a pool of more than 100 young adult applicants to submit four weekly blogs describing how they’d handle a specific personal finance challenge, the firm said.
NerdWallet experts then provide feedback on the contestants’ answers, and at the show’s end, NerdWallet will ask the public to vote for a winner, who will receive $1,000 and two free financial planning sessions.
The four challenges center on determining your worth, accomplishing your personal finance goals, investing and deciding what you would do with $1 million, NerdWallet said.
Joining 25-year-old Seth Poplaski, the Maine marketing manager, in the contest are Jia Tolentino, a 23-year-old freelance writer from Ann Arbor, Mich.; Matt Culkin, a 21-year-old comedy writer from New Orleans; Meghan Green, a 25-year-old concert promoter from Brooklyn, N.Y., and Tristan Nelson, a 22-year-old AmeriCorps volunteer from Abingdon, Va.
NerdWallet said it launched the show to help get young people thinking about personal finance sooner rather than later, given that many are being hit with poor job prospects, low starting wages and high levels of student debt.
“I have a lot of friends who are smart in their fields but don’t know much about finances,” said Shiyan Koh, vice president of personal financial management for NerdWallet. “Personal finance is something that people sort of glaze over and don’t want to think about it. But it should be thought of the same way personal fitness is thought of – as something that brings success into your everyday life. When you square away personal finance, you can live the kind of life that you want.”
Contestants have been submitting their blogs throughout September. Public voting will take place Oct. 1-15 and the “So You Think You Can Finance” winner will be announced Oct. 22, NerdWallet said.