To engage Gen Y in financial discussions, Charles Schwab has launched a “SchwabMoneyWise” Facebook page to engage Gen Y in a dialog on “financial firsts.”

One of the initial posts asks viewers to join a “Money Mondays” contest by sharing a financial story in 100 words or less to win $100. Another warns people from posting too many details about themselves online, such as their birthday, in order to prevent identity theft.

“People of all ages are spending more and more time on social networking sites,” noted Charles Schwab Foundation President Carrie Schwab-Pomerantz. “Sharing information online is here to stay. We are excited to be on Facebook and to engage in a richer conversation with people just starting out. We want to hear their thoughts and point of view.”

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